Manulife launched the ‘Innovating for Asia’s
Demographic Future Challenge’ through UpLink, the World Economic Forum’s
early-stage innovation initiative to tackle the world’s biggest challenges.
Together, Manulife, UpLink and the Forum’s Centre for Financial and Monetary
Systems, invite start-ups, innovators, and changemakers with solutions for
enabling long-term financial resilience, well-being, and fulfillment across
multi-stage lives in Asia to participate.
“To help people live better for longer, we
must fundamentally rethink traditional approaches to investments, insurance,
health care, and workforce participation,” said Sarah Chapman, Global Chief Sustainability Officer for Manulife. “This
challenge is an opportunity to drive investment in innovations that are truly
going to move the needle to address demographic trends shaping the future of
Asia in an effort to improve health, wealth, and quality of living outcomes for
generations to come.”
By 2050, one in four people in Asia will be
over the age of 60. This
profound demographic shift is driven by longer life expectancies and declining
fertility rates. As countries in Asia
adapt to these changes, people may no longer follow the traditional ‘school,
work, retirement’ paradigm. Instead,
they transition more frequently between learning, working, caring, and
recreation. In
addition, recent data from Manulife’s Asia Care Survey showed physical
well-being is central to both financial and mental well-being for people across
Asia, and that rising health-care costs are a major concern, fueling anxiety
about insufficient savings.
To promote long-term financial resilience,
well-being, and fulfillment across populations in Asia, the challenge seeks
startups who are working to drive progress in three focus areas:
Multigenerational financial resilience: Solutions that promote better financial planning
over the course of longer lives.
- Equitable healthy aging: Solutions that expand access to preventative and holistic
health care, helping people maintain their physical and mental well-being as
they age.
- Lifelong fulfillment: Solutions that maximize personal and professional
potential for people at all stages of life through skill building and community
engagement.
- Challenge winners will benefit from access to
exclusive networking events and partnerships as well as increased visibility
and funding opportunities. Manulife will give $200,000 CAD in prize money split
among three of the top ten winners.
“Early-stage innovation is
key to transforming the challenges of Asia’s profound demographic shifts into
opportunities for people across the region,” said John Dutton, Head of UpLink, World Economic Forum. “UpLink, in
collaboration with the Forum’s Centre for Financial and Monetary Systems, is
proud to advance its longevity-focused work with Manulife through the launch of
the ‘Innovating for Asia’s Demographic Future Challenge,’ and – via its unique
engagement programme – empower purpose-driven start-ups promoting
multigenerational financial resilience, equitable healthy aging, and lifelong
fulfilment to scale their ventures.”
As part of a multiyear partnership between
Manulife and UpLink announced last year, this is the second of three
innovation challenges designed to help shape the future of, and investment in,
longevity innovation. The ten winners of Manulife’s 2024 ‘Prospering in
Longevity Challenge’ were announced in October. New thematic focus areas will
be picked for the third challenge in 2026.
Full project details for the ‘Innovating for Asia’s Demographic
Future Challenge’, including eligibility criteria, can be found on the
challenge page. The deadline to apply is April 28, 2025.
This challenge is aligned to Manulife’s Impact
Agenda, which focuses on three interconnected pillars grounded in the
principles of longevity that outline the social and environmental areas where
we have the greatest ability to affect change. To learn more about Manulife’s
Impact Agenda, visit manulife.com/impact.
.jpg)
Post a Comment