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Human Centered Design   Service Innovation and Decision Design   Generational Design   Social Entrepreneurship and the New Philanthropy   Technology, Entertainment and Health
It’s hard to create a space that will not attract people, what is remarkable, is how often this has been accomplished.  ─ William H. Whyte
AN EVENT SPONSORED BY
 
Profiting in the New Boomer Marketplace Mary S. Furlong, Ed.D CEO, Mary Furlong & Associates November 2008
October and November,  2005 Magazine Covers Marketers are finally recognizing the value of the 40+ market Making Big US News ~ the Boomer Market
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],The Silver Tsunami
The “Age Wave” ,[object Object],Source: US Census Bureau estimates for July 2002, latest estimates available.
Five Key Boomer Trends 5 4 3 2 1 Connection, meaningful pursuits, giving back Spirituality For every stage of aging, there is also a creative business opportunity. Examples: health, family, work, loss of parents, empty nest E-shocks transitions Old rules : Count on social security and lifelong company pensions New rules : Investing for your future, 401(k)s, Entrepreneurship, IRAs, taking control of your destiny (Motley Fool), Longevity ~ financing longer, healthier lives Tech companies like Intel are transforming into tech and healthcare companies. Assistive devices, smart connectivity, smart home - residential wireless sensors, smarter mobile devices Technology ~ enhancing the quality of life China will have about 630 million people age 50+ in 2050  (UN population projection) Aging, a global trend
The U.S. and beyond ~ a graying planet Global aging - the new demographic revolution - offers challenges, changes and opportunities to organizations poised to service it. BusinessWeek Online, 01/05
China's Population by Age Groups, 1950-2050* During the next 50 years China will experience a dramatic population aging. According to this most recent UN population projection (the 1998 Revision), China will have about 630 million people age 50 and above in 2050 - while there will be only some 78 million children below the age of 5 and just 324 million children and teenagers below the age of 20. In other words: by 2050 China will have almost twice as many people above age 50 than below age 20. * These estimates and projections include the population of Mainland China and Hong Kong. Source: United Nations Population Division: World Population Prospects. The 1998 Edition. New York  There are an estimated 250 million disabled persons in China , most of whom reside in the provinces and are not productive members of the economy at present. United Nations Population Projection, 998 Revision, Medium Variant (million) 631 525.8 332.4 208.8 87.1 50+ 529.7 597.9 665 594.7 228.4 20-49 245.6 278.1 290.4 319.6 165 5-19 Age 0-4 Total 78.1 86.3 92.7 103.7 76.2 1484.4 1488.1 1380.5 1226.7 556.7 2050 2025 2010 1995 1950
A Sample ~ Investors in the Boomer Market David Yarnell, Brand Equity Ventures Chip Baird, North Castle Partners Steve Jurvetson Draper Fisher Jurvetson Jon Staenberg Rustic Canyon Partners Bijan Salehizadeh, MD Highland Capital Partners   Brad Vale, Ph.D. J&J Dev.Corp
Healthy Living ~ Market Size by Category North Castle Partners LLC
The Dissonance of Aging Creates New Markets Prevalence of joint pain Prevalence of vision problems that cannot be corrected by glasses or contacts
Five Key Boomer Trends 5 4 3 2 1 Connection, meaningful pursuits, giving back Spirituality For every stage of aging, there is also a creative business opportunity. Examples: health, family, work, loss of parents, empty nest E-shocks transitions Old rules : Count on social security and lifelong company pensions New rules : Investing for your future, 401(k)s, 403(b)s, IRAs, taking control of your destiny (Motley Fool); Entrepreneurship Longevity ~ financing longer, healthier lives Tech companies like Intel are transforming into tech and healthcare companies. Assistive devices, smart connectivity, smart home - residential wireless sensors, smarter mobile devices; wired and wireless boomers Technology ~ enhancing the quality of life China will have about 630 million people age 50+ in 2050  (UN population projection) Aging, a global trend
Large Companies Across Many Industries Value this Market Philips Intuit Wells Fargo Wal-Mart Microsoft Verizon Health and wellness Technology and  financial services Retail Technology Communications and leading-edge innovation
Internet usage among people 50-64 is more than 3X that of today’s seniors 2008: (50-64) – 40.7 million users - 73.7% penetration by ’08, up from 66% today 2008: (65+) 13.2 million users -  34.1% penetration by ‘08, up from 28% today 2005 - 43.4 million Internet users 50+
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Portal  Strategy ,[object Object],[object Object],[object Object],[object Object],[object Object]
Five Key Boomer Trends 5 4 3 2 1 Connection, meaningful pursuits, giving back Spirituality For every stage of aging, there is also a creative business opportunity. Examples: health, family, work, loss of parents, empty nest E-shocks transitions Old rules : Count on social security and lifelong company pensions New rules : Investing for your future, 401(k)s, 403(b)s, IRAs, taking control of your destiny (Motley Fool) Longevity ~ financing longer, healthier lives Tech companies like Intel are transforming into tech and healthcare companies. Assistive devices, smart connectivity, smart home - residential wireless sensors, smarter mobile devices Technology ~ enhancing the quality of life China will have about 630 million people age 50+ in 2050  (UN population projection) Aging, a global trend
Entrepreneurship ,[object Object]
President George W. Bush turned 60, July, 2007 Bill Clinton turned 60 August, 2007 Katie Couric Anchor, CBS News Born January, 1957 Jane Pauley Born 1950 The Boomer Market Has Many Faces Dr. Jane Goodall Born 1937
Life Cycle Messiness (U.S. households by type aged 45 & older, in millions, 2002. Source:  CPS)
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Biggest Market Opportunities
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Where Do Boomers Move? AARP has identified the “15 Best Places to Reinvent Your Life”
US Boomer Population Shift ~ 2006 to 2016 Notes: Alaska is -16.8%, Hawaii is -0.5%, Washington DC is -29.8%. Source: U.S. Census Bureau, Population Division, Projections Branch, April 2005
US Boomer Population Shift ~ 2006 to 2016 Notes: Alaska is -16.8%, Hawaii is -0.5%, Washington DC is -29.8%. Source: U.S. Census Bureau, Population Division, Projections Branch, April 2005
Boomers and Home Ownership ,[object Object],[object Object],[object Object],[object Object],[object Object]
Home is Where the Heart Is ~ ,[object Object],[object Object],[object Object],[object Object]
Women ~ a Strong Market ,[object Object],[object Object],[object Object],[object Object],[object Object],Women are an attractive market for real estate and investments ~
Creativity,  Passion, Play Learning Drivers:  Escapism, Connection, Fulfillment ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
The Studio Studios, Home Offices, Second Homes
 
Future Home ~ Smart Home, 2017 Slimline Personal Help Button and CarePartner Telephone with Reminders Assistive Technology Products: alternative keyboards, electronic pointing devices, wands and sticks, joysticks,  trackballs, touch screens ,[object Object],[object Object],[object Object],Resources to work through difficult family care decisions  Clean, green home
Assistive Technology Can Open Worlds ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Using an IBM text-to-speech synthesizer, Home Page Reader speaks Web-based information.   BRAILLEX® EL Braille Assistant  One of the biggest impetuses to developing assistive technology products so they can be used worldwide, regardless of the company’s size, has been the leadership of IBM, Hewlett Packard, Microsoft, MacroMedia, Sun Microsystems, Dell, Apple Computer, Xerox, Cannon, Panasonic, Deque, Corda, Adobe, Keybowl, AOL and multitudes of other corporations. A primary driving force behind this effort is Section 508 of the 1998 Rehabilitation Amendments.   HumanWare PocketViewer
Five Key Boomer Trends 5 4 3 2 1 Connection, meaningful pursuits, giving back Spirituality For every stage of aging, there is also a creative business opportunity. Examples: health, family, work, loss of parents, empty nest E-shocks transitions Old rules : Count on social security and lifelong company pensions New rules : Investing for your future, 401(k)s, 403(b)s, IRAs, taking control of your destiny (Motley Fool) Longevity ~ financing longer, healthier lives Tech companies like Intel are transforming into tech and healthcare companies. Assistive devices, smart connectivity, smart home - residential wireless sensors, smarter mobile devices Technology ~ enhancing the quality of life China will have about 630 million people age 50+ in 2050  (UN population projection) Aging, a global trend
Spirituality, Philanthropy, Legacy ,[object Object],[object Object],[object Object],[object Object],[object Object]
“ The Third Act for Boomers will be their defining one…with their time, experience, sense of adventure, and desire to leave the world a better place.”  - Mary Furlong “It is not ok to wire our world, if we don’t connect the soul.”   - Tom Brokow   In Summary…
The Future ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Tuesday, June 18, 2008 ~ 8:30 am – 6:30 pm Santa Clara University, 500 El Camino Real, Santa Clara, California www.BoomerVentureSummit.com THE EXECUTIVE DEVELOPMENT CENTER at SANTA CLARA UNIVERSITY’S LEAVEY SCHOOL OF BUSINESS and MARY FURLONG & ASSOCIATES presents Meet at the Crossroads of Market Opportunity, Entrepreneurial Talent and Leading Investors: the Power of the 40+ Market ,[object Object],[object Object],[object Object],[object Object],[object Object],SPONSORS : AARP; North Castle Partners; Posit Science Corporation; Decision Street; The Entrust Group; Hewlett-Packard; MetLife Mature Market Institute; Morrison & Foerster; Silicon Valley Bank; Sun Microsystems; Petplan; LifeBio IN-KIND CONTRIBUTORS:  BMW; Four Seasons Silicon Valley; Les Concierges; Southwest Airlines
Silicon Valley Boomer Business Plan Competition – 2007 Finalists Curant Stanford University, Stanford, CA - Patient-centered, device-based therapies for urinary incontinence. Ross Venook CELLTHERA UCSF, San Francisco, CA - Biotech company developing cell-based transplants for severely disabled stroke patients Cory Nicholas cVision Medical Solutions, Inc. John Hopkins University, Baltimore, MD - A noninvasive way to measure central venous pressure using ultrasound Vikram Aggarwal, Co-founder Optimal Vision Corporation (OVC) University of Illinois at Chicago - A non-invasive procedures to correct presbyopia (loss of near vision). Kristin Ware SeroNostics UC Berkeley, Berkeley, CA - Point of care diagnostic device capable of diagnosing disease in minutes by injecting bodily fluid into disposable cartridges that are inserted into analyzer Poorya Sabounchi AmeliaPlex Orlando, FL - Medication reminder software SusanTorrico, President eLegacy Lewis Center, OH - A comprehensive suite of on-demand estate management and settlement products for estate holders and their executors. Ernest Lamberts, CEO My Celery Troy, NY - Email exchange system that lets you send handwritten letters as email and receive automatically-printed email and color photos  without a computer . Andrew A. Gibson, CEO Prime Footwear Stanford University, Stanford, CA - Footwear created with therapeutic, clinically validated technology to serve consumers with joint problems. Eric Edelson World Hearing Organization Bring the most comprehensive affordable hearing health care services to the 25M U.S. hearing impaired population Sani Siamak, President/CEO Health, Wellness and Eldercare Category General Category
Contact Us 5th Annual What’s Next Boomer Business Summit March 26, 2008 Washington DC www.BoomerSummit.com A pre-conference to the 2008 Conference of the National Council on Aging (NCOA) and the American Society on Aging (ASA) www.AgingConference.org Mary S. Furlong, Ed.D CEO Mary Furlong & Associates 3527 Mt. Diablo Blvd. #128 Lafayette, CA  94549 [email_address] 415-902-8671 http://www.MaryFurlong.com
Resource for More Market Information Turning Silver into Gold How to Profit in the New Boomer Marketplace [email_address] ;  MaryFurlong.com
BOOK NOW FOR THE  2008 SARASOTA SUMMIT DESIGN October 27-29 www.sarasotadesignsummit.com/2008/

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Sarasota Summit 2007-Mary Furlong

  • 1. presents Sarasota – Florida USA
  • 2. Human Centered Design Service Innovation and Decision Design Generational Design Social Entrepreneurship and the New Philanthropy Technology, Entertainment and Health
  • 3. It’s hard to create a space that will not attract people, what is remarkable, is how often this has been accomplished. ─ William H. Whyte
  • 5.  
  • 6. Profiting in the New Boomer Marketplace Mary S. Furlong, Ed.D CEO, Mary Furlong & Associates November 2008
  • 7. October and November, 2005 Magazine Covers Marketers are finally recognizing the value of the 40+ market Making Big US News ~ the Boomer Market
  • 8.
  • 9.
  • 10. Five Key Boomer Trends 5 4 3 2 1 Connection, meaningful pursuits, giving back Spirituality For every stage of aging, there is also a creative business opportunity. Examples: health, family, work, loss of parents, empty nest E-shocks transitions Old rules : Count on social security and lifelong company pensions New rules : Investing for your future, 401(k)s, Entrepreneurship, IRAs, taking control of your destiny (Motley Fool), Longevity ~ financing longer, healthier lives Tech companies like Intel are transforming into tech and healthcare companies. Assistive devices, smart connectivity, smart home - residential wireless sensors, smarter mobile devices Technology ~ enhancing the quality of life China will have about 630 million people age 50+ in 2050 (UN population projection) Aging, a global trend
  • 11. The U.S. and beyond ~ a graying planet Global aging - the new demographic revolution - offers challenges, changes and opportunities to organizations poised to service it. BusinessWeek Online, 01/05
  • 12. China's Population by Age Groups, 1950-2050* During the next 50 years China will experience a dramatic population aging. According to this most recent UN population projection (the 1998 Revision), China will have about 630 million people age 50 and above in 2050 - while there will be only some 78 million children below the age of 5 and just 324 million children and teenagers below the age of 20. In other words: by 2050 China will have almost twice as many people above age 50 than below age 20. * These estimates and projections include the population of Mainland China and Hong Kong. Source: United Nations Population Division: World Population Prospects. The 1998 Edition. New York There are an estimated 250 million disabled persons in China , most of whom reside in the provinces and are not productive members of the economy at present. United Nations Population Projection, 998 Revision, Medium Variant (million) 631 525.8 332.4 208.8 87.1 50+ 529.7 597.9 665 594.7 228.4 20-49 245.6 278.1 290.4 319.6 165 5-19 Age 0-4 Total 78.1 86.3 92.7 103.7 76.2 1484.4 1488.1 1380.5 1226.7 556.7 2050 2025 2010 1995 1950
  • 13. A Sample ~ Investors in the Boomer Market David Yarnell, Brand Equity Ventures Chip Baird, North Castle Partners Steve Jurvetson Draper Fisher Jurvetson Jon Staenberg Rustic Canyon Partners Bijan Salehizadeh, MD Highland Capital Partners Brad Vale, Ph.D. J&J Dev.Corp
  • 14. Healthy Living ~ Market Size by Category North Castle Partners LLC
  • 15. The Dissonance of Aging Creates New Markets Prevalence of joint pain Prevalence of vision problems that cannot be corrected by glasses or contacts
  • 16. Five Key Boomer Trends 5 4 3 2 1 Connection, meaningful pursuits, giving back Spirituality For every stage of aging, there is also a creative business opportunity. Examples: health, family, work, loss of parents, empty nest E-shocks transitions Old rules : Count on social security and lifelong company pensions New rules : Investing for your future, 401(k)s, 403(b)s, IRAs, taking control of your destiny (Motley Fool); Entrepreneurship Longevity ~ financing longer, healthier lives Tech companies like Intel are transforming into tech and healthcare companies. Assistive devices, smart connectivity, smart home - residential wireless sensors, smarter mobile devices; wired and wireless boomers Technology ~ enhancing the quality of life China will have about 630 million people age 50+ in 2050 (UN population projection) Aging, a global trend
  • 17. Large Companies Across Many Industries Value this Market Philips Intuit Wells Fargo Wal-Mart Microsoft Verizon Health and wellness Technology and financial services Retail Technology Communications and leading-edge innovation
  • 18. Internet usage among people 50-64 is more than 3X that of today’s seniors 2008: (50-64) – 40.7 million users - 73.7% penetration by ’08, up from 66% today 2008: (65+) 13.2 million users - 34.1% penetration by ‘08, up from 28% today 2005 - 43.4 million Internet users 50+
  • 19.
  • 20. Five Key Boomer Trends 5 4 3 2 1 Connection, meaningful pursuits, giving back Spirituality For every stage of aging, there is also a creative business opportunity. Examples: health, family, work, loss of parents, empty nest E-shocks transitions Old rules : Count on social security and lifelong company pensions New rules : Investing for your future, 401(k)s, 403(b)s, IRAs, taking control of your destiny (Motley Fool) Longevity ~ financing longer, healthier lives Tech companies like Intel are transforming into tech and healthcare companies. Assistive devices, smart connectivity, smart home - residential wireless sensors, smarter mobile devices Technology ~ enhancing the quality of life China will have about 630 million people age 50+ in 2050 (UN population projection) Aging, a global trend
  • 21.
  • 22. President George W. Bush turned 60, July, 2007 Bill Clinton turned 60 August, 2007 Katie Couric Anchor, CBS News Born January, 1957 Jane Pauley Born 1950 The Boomer Market Has Many Faces Dr. Jane Goodall Born 1937
  • 23. Life Cycle Messiness (U.S. households by type aged 45 & older, in millions, 2002. Source: CPS)
  • 24.
  • 25.
  • 26. US Boomer Population Shift ~ 2006 to 2016 Notes: Alaska is -16.8%, Hawaii is -0.5%, Washington DC is -29.8%. Source: U.S. Census Bureau, Population Division, Projections Branch, April 2005
  • 27. US Boomer Population Shift ~ 2006 to 2016 Notes: Alaska is -16.8%, Hawaii is -0.5%, Washington DC is -29.8%. Source: U.S. Census Bureau, Population Division, Projections Branch, April 2005
  • 28.
  • 29.
  • 30.
  • 31.
  • 32. The Studio Studios, Home Offices, Second Homes
  • 33.  
  • 34.
  • 35.
  • 36. Five Key Boomer Trends 5 4 3 2 1 Connection, meaningful pursuits, giving back Spirituality For every stage of aging, there is also a creative business opportunity. Examples: health, family, work, loss of parents, empty nest E-shocks transitions Old rules : Count on social security and lifelong company pensions New rules : Investing for your future, 401(k)s, 403(b)s, IRAs, taking control of your destiny (Motley Fool) Longevity ~ financing longer, healthier lives Tech companies like Intel are transforming into tech and healthcare companies. Assistive devices, smart connectivity, smart home - residential wireless sensors, smarter mobile devices Technology ~ enhancing the quality of life China will have about 630 million people age 50+ in 2050 (UN population projection) Aging, a global trend
  • 37.
  • 38. “ The Third Act for Boomers will be their defining one…with their time, experience, sense of adventure, and desire to leave the world a better place.” - Mary Furlong “It is not ok to wire our world, if we don’t connect the soul.” - Tom Brokow In Summary…
  • 39.
  • 40.
  • 41. Silicon Valley Boomer Business Plan Competition – 2007 Finalists Curant Stanford University, Stanford, CA - Patient-centered, device-based therapies for urinary incontinence. Ross Venook CELLTHERA UCSF, San Francisco, CA - Biotech company developing cell-based transplants for severely disabled stroke patients Cory Nicholas cVision Medical Solutions, Inc. John Hopkins University, Baltimore, MD - A noninvasive way to measure central venous pressure using ultrasound Vikram Aggarwal, Co-founder Optimal Vision Corporation (OVC) University of Illinois at Chicago - A non-invasive procedures to correct presbyopia (loss of near vision). Kristin Ware SeroNostics UC Berkeley, Berkeley, CA - Point of care diagnostic device capable of diagnosing disease in minutes by injecting bodily fluid into disposable cartridges that are inserted into analyzer Poorya Sabounchi AmeliaPlex Orlando, FL - Medication reminder software SusanTorrico, President eLegacy Lewis Center, OH - A comprehensive suite of on-demand estate management and settlement products for estate holders and their executors. Ernest Lamberts, CEO My Celery Troy, NY - Email exchange system that lets you send handwritten letters as email and receive automatically-printed email and color photos without a computer . Andrew A. Gibson, CEO Prime Footwear Stanford University, Stanford, CA - Footwear created with therapeutic, clinically validated technology to serve consumers with joint problems. Eric Edelson World Hearing Organization Bring the most comprehensive affordable hearing health care services to the 25M U.S. hearing impaired population Sani Siamak, President/CEO Health, Wellness and Eldercare Category General Category
  • 42. Contact Us 5th Annual What’s Next Boomer Business Summit March 26, 2008 Washington DC www.BoomerSummit.com A pre-conference to the 2008 Conference of the National Council on Aging (NCOA) and the American Society on Aging (ASA) www.AgingConference.org Mary S. Furlong, Ed.D CEO Mary Furlong & Associates 3527 Mt. Diablo Blvd. #128 Lafayette, CA 94549 [email_address] 415-902-8671 http://www.MaryFurlong.com
  • 43. Resource for More Market Information Turning Silver into Gold How to Profit in the New Boomer Marketplace [email_address] ; MaryFurlong.com
  • 44. BOOK NOW FOR THE 2008 SARASOTA SUMMIT DESIGN October 27-29 www.sarasotadesignsummit.com/2008/