Longevity Startup Accelerators Recommendation
TOTAL SCORE: 8
Score
A1 (Feasibility increased by continuance of pandemic): 0
A2 (Necessity increased by covid pandemic): 0
A3 (political viability): 0
B1 (Relevance to the specific goal of increasing HALE by 5 years by 2035): +1
B2 (Relevance to general goal of biomedical healthy life extension): +1
C1 (Market readiness applicability): 0
C2 (Project readiness): 0
C3 (Move to market readiness): +1
D1 (Actionability): +1
D2 (Degree of measurability): +1
D3 (Degree of leveraging cross-sector inputs): +1
D4 (Awareness of international context): 0
D5 (Resourcefulness): +1
D6 (Reorganisation): 0
E (Disruptiveness): 0
F (Dividends - does the recommendation aid in social activity and inclusivity?): +1
RECOMMENDATION SUMMARY
We propose that the UK Government launch a number of task forces and working groups to roadmap the development of several key initiatives to boost the development of the UK’s Longevity Industry, including:
1. A working group for establishing Longevity Startup Accelerators in London and other major regional industry-academic hubs.
2. A working group on establishing an Association of Longevity Angel Investors and Early-Stage VC Firms.
3. A working group to propose measures that the UK Government can take to provide enhanced and prioritized support for Longevity charities and nonprofits in order to boost the development of its Longevity scientific and academic ecosystem.
4. While these three initiatives should share a certain degree of dialogue and interaction, we propose that distinct, non-overlapping task-forces oversee their development due to the differing agendas of these three types of entity (Longevity startups, investors and non-profits, respectively), to maintain an appropriate degree of independence and objectivity, so that the specific aims and interests of all three types of entity can be met to their maximum individual benefit.
We propose that the Government establish several related but distinct initiatives to support an increase in investments into UK Longevity startups, including the launch of a Longevity Startup Accelerator, and an initiative to support both new and existing Longevity-focused charities and non-profit organisations.
There are currently only a handful of Longevity startup accelerators active globally. One of them is Y Combinator's Longevity accelerator, based on California, which launched roughly 1 year ago and invested in 10 San Francisco-based Longevity startups. One other example is Aging 2.0, also based in California, which supports AgeTech startups (i.e. companies providing elderly care and support services, as well as companies developing products and services that use IT and digital technologies to increase quality of life for the elderly).
The only Longevity startup accelerator in the UK, and the most relevant example for House of Lords to use in considering the development of its own Longevity startups accelerator, is Innovation Warehouse's AgeTech and Longevity Hub, which focuses on supporting companies working on early stage diagnostics, preventive medicine and AgeTech.
Therefore, we would propose the formation of a working group and task force to consider and roadmap the establishment of one or more Longevity Startup Accelerators.
Score
A1 (Feasibility increased by continuance of pandemic): 0
A2 (Necessity increased by covid pandemic): 0
A3 (political viability): 0
B1 (Relevance to the specific goal of increasing HALE by 5 years by 2035): +1
B2 (Relevance to general goal of biomedical healthy life extension): +1
C1 (Market readiness applicability): 0
C2 (Project readiness): 0
C3 (Move to market readiness): +1
D1 (Actionability): +1
D2 (Degree of measurability): +1
D3 (Degree of leveraging cross-sector inputs): +1
D4 (Awareness of international context): 0
D5 (Resourcefulness): +1
D6 (Reorganisation): 0
E (Disruptiveness): 0
F (Dividends - does the recommendation aid in social activity and inclusivity?): +1
RECOMMENDATION SUMMARY
We propose that the UK Government launch a number of task forces and working groups to roadmap the development of several key initiatives to boost the development of the UK’s Longevity Industry, including:
1. A working group for establishing Longevity Startup Accelerators in London and other major regional industry-academic hubs.
2. A working group on establishing an Association of Longevity Angel Investors and Early-Stage VC Firms.
3. A working group to propose measures that the UK Government can take to provide enhanced and prioritized support for Longevity charities and nonprofits in order to boost the development of its Longevity scientific and academic ecosystem.
4. While these three initiatives should share a certain degree of dialogue and interaction, we propose that distinct, non-overlapping task-forces oversee their development due to the differing agendas of these three types of entity (Longevity startups, investors and non-profits, respectively), to maintain an appropriate degree of independence and objectivity, so that the specific aims and interests of all three types of entity can be met to their maximum individual benefit.
We propose that the Government establish several related but distinct initiatives to support an increase in investments into UK Longevity startups, including the launch of a Longevity Startup Accelerator, and an initiative to support both new and existing Longevity-focused charities and non-profit organisations.
There are currently only a handful of Longevity startup accelerators active globally. One of them is Y Combinator's Longevity accelerator, based on California, which launched roughly 1 year ago and invested in 10 San Francisco-based Longevity startups. One other example is Aging 2.0, also based in California, which supports AgeTech startups (i.e. companies providing elderly care and support services, as well as companies developing products and services that use IT and digital technologies to increase quality of life for the elderly).
The only Longevity startup accelerator in the UK, and the most relevant example for House of Lords to use in considering the development of its own Longevity startups accelerator, is Innovation Warehouse's AgeTech and Longevity Hub, which focuses on supporting companies working on early stage diagnostics, preventive medicine and AgeTech.
Therefore, we would propose the formation of a working group and task force to consider and roadmap the establishment of one or more Longevity Startup Accelerators.