£5million innovation deal boosts lon

image: The Catalyst, home to the UK’s National Innovation Center for Aging based at Newcastle University.
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Credit: Newcastle University, UK

A multi-million pound deal to help all of us in the UK live longer and happier lives has been launched today and will bring new jobs, skills and businesses to the North Tyne region.

The £5.6m joint investment brings together the North of Tyne Combined Authority covering Newcastle, North Tyneside and Northumberland with the National Innovation Center for Aging (NICA) and will see cutting-edge research translate into new jobs, skills and technology start-ups. in the zone. Innovations could include smart homes, connected devices, remote monitoring and health, care and support models that enable older people to live independently – solutions that preserve independence and support the challenge of living independently. reach net zero.

The emerging market for aging innovation is huge and it will add 2% to global GDP by 2040. Multi-generational housing alone is expected to triple by 2040 and the number of working people over 65 has doubled since 2001.

Jamie Driscoll, Mayor of North Tyne, said: “The UK population is aging dramatically. This creates challenges but also opportunities. Our phones in our pockets are incredible and powerful tools that can help us stay fit and healthy as we age. Technology is more accessible than ever and has the potential to do more.

“Our region is leading in digital technology, so we are perfectly placed to launch this latest innovation agreement. It will grow local tech companies, help them prepare for these emerging markets and create new good jobs. We will invest in products and services that make a difference and help people live well while living longer.

The innovation agreement places particular emphasis on Internet of Things caring (IoCT) which uses the latest technologies to help people maintain their independence. This phase of investment will directly benefit North of Tyne by working with 600 businesses and creating 145 new jobs. He will work with over 1,000 residents to engage them in the development of brand new products and services.

The region stretching from the Tyne to the Scottish borders is already home to cutting-edge research within its universities and national innovation centres. It has a rapidly growing data and digital economy; and a large and globally recognized healthcare, utilities and life sciences sector. Companies like P&G, onHand, Piaggio Fast Forward, BreatheHappy, GlycanAge, ConnectedLife, Solongevity and Coop Italy are already using NICA’s Aging Intelligence™ approach to translate this expertise into the creation of new products and services.

The deal builds on the government’s and Newcastle University’s existing significant investments in aging and will specifically accelerate innovation and the economic dividend for local and regional businesses.

Professor Nic Palmarini, Director of NICA said: “Our ways of living, working and socializing are changing and services need to catch up with this. The Innovation Agreement will help achieve this by amplifying and clarifying the opportunities of the longevity economy – putting people and meaningful, accessible innovation at the heart of our work so that, together with our partner CPI, we can design an informed future aligned with changing needs.

“This could be in new products that support healthy aging and longevity ‘by design’ such as housing, intergenerational living, workplace, mobility, finance, health. The Longevity Accord will create new jobs, start-ups and large-scale businesses that will benefit the region and the UK.

Nick Forbes, Leader of Newcastle City Council and holder of the North of Tyne Portfolio for Jobs, Innovation and Growth said: “We want the people of Newcastle and North Tyne to live longer and happier lives. That’s what it’s about. This means that companies with good ideas will get the support they need to contribute to our thriving technical and research sector, to develop products that will make a real difference in people’s lives.

“It’s about creating a virtuous circle in Newcastle, North Tyneside and Northumberland where we attract the talent and innovation that will drive growth, attract new investment and make North Tyne a better place to live, work and do. Business.”

The region is making strides to lead the country in building critical mass as an innovation ecosystem with Newcastle University in partnership with Newcastle City Council, NHS Trusts and others developing proposals for master plan for the redevelopment of the campus for aging and vitality on the former general hospital site. The site’s vision is to provide an intergenerational residential environment, state-of-the-art research facilities and an integrated health center to provide longer and healthier lives. Community consultation is already underway.

If you are a business in the North of Tyne Combined Authority, UK and If you want to learn more about the Internet of Caring Things program, check out www.ioct.uknica.co.uk or contact: [email protected]

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