Senior Sense Solutions
Simpler, Safer, and Smarter elderly care for family caretakers.
As the elderly population increases, so will the instance of health issues like cogntive decline. For instance, the risk of getting Alzheimer's and related dementias increases with age and is one of the most prevalent afflications among older adults. Over 80% of those Alzheimer's patients receive care at home, and 1/3 of their family caretakers provide care for 4+ years.
As the people who once took care of us grow older, they will need to be provided care. Unfortunately, options like hospice care can be expensive or emotionally difficult to accept. Therefore, many of us become family caretakers for their elder relatives.
Juggling work, personal responsabilities, and family caregiving can lead to caretaker burnout and stress. So we partnered up with Dassault Systèmes to find and design a smart, biomedical solution to address the financial and human burden of elderly care in an increasing elderly population, which promotes quality of care for the elderly and peace of mind for the caretakers.
Product Description
The use of IoT devices like smartwatches has drastically improved the ability for informal caregivers to monitor and care for their patients’ health. You can be one step ahead in any situation by knowing the facts of your loved ones’ health and location in real time. Inspired by commercial smartwatches like Apple, we bring a streamlined and health-focused approach to equipping seniors. Besides displaying basic biometric data and battry life, the portal will also notify the caretaker if the patient has fallen down wandered or wandered. For user comfort and practicality, the wearable is comfortable, splash proof, and adjustable.
Wearable Device
Caretaker App/Website
Market Analysis
Identifying Our Market
Our device fits within the larger Senior Healthcare market. Specifically, we find ourselves matched in the market for Medical Alert Systems. As of data from 2024, the compound annual growth rate of 10.3%, and by 2030 the global market value for Medical Alert Systems (in the subsection of wearables) is expected to reach $6.6 Billion (USD).
Competitor Comparison
This chart provides the costs and features of the most prominent medical alert smartwatches in the United States. Senior Sense Solutions offers a more financially forgiving entry and retention to staying up to date with senior health - all without sacrificing on the quality of data monitoring.
Why not Apple or any other smartwatch on the market?
The current selection of commercially available smartwatches are often marketed as cellular, calling, or fitness tracker smart watches. These include popular names like Apple, Fitbit, and the Samsung Galaxy - many of which include health and wellness applications among a myriad of other features.
However, many smartwatches that promote fitness or include health monitoring features are often less suitable for seniors that require additional care. These devices can be daunting with a high upfront cost, often too complicated with unnecessary features or applications that will go unused, or lack recording and alerts for health information.
We here at Senior Sense Solutions believe that it is high time for a true medical alert and monitoring wearable made for families caring for their loved ones. We seek to bring a streamlined and health-focused approach to equipping seniors.
Market Strategy
Business Model
We will follow a D2C (Direct-to-Consumer) to B2C (Business-to-Consumer) model to bring our product to our customers. Since we are a small business with the ideal of continuous innovation, it is important to us that we get to know our customers and partners to bring more personalized care to seniors. In our beginning stages, we want to work closely with a few families and seniors before expanding our reach through retailers to reach more caregivers. We plan to create our own channel (e.g. Online Retail) to facilitate commerce and communications with our customers.
We will also implement a Subscription Model for families using our Caregiver App. At the price of just one meal per month, our modest fee at $25/month provides caregivers with real-time monitoring and history of their patients’ health information.
Product Testing & Future Development
While informal caregivers - often family and friends of senior patients - are our target audience, Senior Sense Solutions has used the experience and input of professional caregivers and geriatric specialists to inform the development of our product.
We want to provide families the best in monitoring and informing through our device. To do this, we will partner with professional at-home caregivers to help test our smartwatch on senior patients.
This will allow us to collect feedback on both our device and app, as well as give us the opportunity to continually improve our device to satisfy the needs of family caregivers and their loved ones.
Additionally, our mentorship with Dassault Systèmes has provided us with the software necessary to design our smartwatch. In the future, we hope to continue our partnership to mutually improve our relations between business, medicine, and the people.
Pitch Video
Meet The Team
Acknowledgements
Medical Student: Flor Romero ICS team members: Noah Wang (team lead), Adan Jr. Chavez, Peter Tumali, Elijah Hahm, Jacky Cheng, Justina Wu, Tyler Tran Mentors:- Dassault Systèmes Mentors: Sarah Ahmad, Florent Salako, Jean-Philippe Laguerre
- BioEngine: Christine E King