Although life expectancy is rising, risks increase as well. The UN predicts that by 2050, there will be over 2.1 billion people in the world who are 60 years of age or older. Israelis are expected to live to an average age of 83.49 in 2023, keeping Israel among the top-ranked nations in this category. Let’s consider some of the most cutting-edge Israeli startups in Longevity Tech.
The steady rise in life expectancy brings about changes in our lifestyles. Businesses in MedTech now have a unique chance to be at the forefront of longevity planning, building financial flexibility, and promoting good health in later life. Yet, besides the advantages, the concept of longevity also has risks related to the dilution of financial resources, a decline in health, and a rise in dependency on the nation and family members in respect of finances.
According to Dr. Ira Sobel, CEO of the Fintech 4Longevity Academy, a research and consulting platform, helping financial institutions to unlock the potential of people of 50+, introducing new solutions and technologies can help governmental structures, corporations, and the general public be well-prepared for aging.
Dr. Sobel believes that there are three approaches to attaining this objective:
- Starting an international partnership, mostly through conferences, seminars, and education, so that despite the cultural differences between other societies, we may benefit from one another.
- Promoting an interdisciplinary approach so that all the aging stakeholders (healthcare organizations, pension funds, R&D centers, etc.) will create new solutions for addressing the issue.
- Spurring innovations in MedTech so that people will live healthier and extended lives while utilizing last-generation solutions.
In light of this, Eternity Life Clinics highlights some of the most cutting-edge Israeli projects in the Longevity Tech sector.
At least 3 million Americans pass away each year, causing countless mourning families to suffer both from their grief and the subsequent organizational nightmares. These families spend over 500 hours on average in the weeks and months after a death taking care of immediate requirements like planning a funeral and approving a will as well as more involved procedures like account closures, estate administration, benefit claims, and property cleanout.
Israeli entrepreneurs Ron Gura and Yonatan Bergman created Empathy in 2021 as a platform to assist families in navigating the journey, including the organizational and emotional challenges they encounter after losing a family member. This startup provides technological and emotional assistance in the $100 billion US end-of-life industry. Empathy’s software automates estate administration procedures, reduces onerous tasks, and streamlines end-of-life paperwork.
Each year, older persons report having around 36 million falls, which cause more than 32,000 fatalities. Many elderly people after falling have not sought medical attention or reported the incident.
A device developed by the company BoBo Balance founded by Eitan Merhavy in 2017 has modernized physical rehabilitation, fitness, and balance training.
The main objective of the project is to give seniors the confidence they need to live independently by offering them individualized balancing training that lowers their risk of falling, keeps them active and healthy, and is also enjoyable.
Established in 2021 by Guy Leitersdorf, Israeli firm Longevity AI is dedicated to leveraging science and tech to enhance people’s lives all over the world. The startup has created a comprehensive system for hospitals, health funds, and other medical institutions that enables real-time tracking of patient health. The project’s SaaS platform can be used to do everything from drawing reports utilizing a range of variables, such as blood, DNA, and psychological surveys, to providing biological age estimates.
Longevity AI’s mission is to help individuals live longer lives by giving them the assistance they need to maintain their well-being. The company can create specialized treatment regimens that can improve life expectancy for individuals of all ages and medical histories by using AI to offer individualized suggestions.
Another startup SenterCare founded in 2020 by Yair Geva and Nimrod Altman offers what the company calls to be “the only unobstructive technology that can differentiate between people in the same home and can be truly personalized and adaptive.” The system sends alerts on trends, short- and long-term occurrences, and safety. As a result, the senior’s quality of life is prolonged, their quality is preserved, and medical costs are decreased.