US$250,000 For Startups Solving Senior Independent Living

New Startup Program by HAX and Centrica Offers Startups US$250,000 to Help Improve the Quality of Life for the over 65s

The program combines resources and expertise of the world’s largest hardware accelerator, HAX, with the leading international energy and services company, Centrica to accelerate the development of novel connected solutions designed to meet the needs of an ageing population.

[SAN FRANCISCO and LONDON] [26 February 2019, 11:00am PST, 8:00pm CET] — HAX (www.hax.co), the leading Silicon Valley and Shenzhen-based hardware accelerator is partnering with smart home provider Centrica Hive to support startups who are creating solutions for both carers and seniors who wish to live independently at home for longer. This initiative will further enhance an award-winning new smart home service, called Hive Link, which was launched by Centrica in December 2018.

The population of those aged 65 and older in the US is projected to reach 78 million by 2035 (versus 47.8 million today) with more people living alone (1). As those people get older, we know that their first choice is typically to stay in their own homes but that can bring challenges: physical decline, falls, sensory or memory loss, poor nutrition and more (2)(3). Technology can help us do better, for our loved ones and for our future selves” says Sam Salisbury, Centrica Innovations.

“HAX has invested in over 200 high-tech startups over the past 6 years, and we were looking for the right partner to tackle this immense challenge. We want to find the right sensors, service robots, or diagnostic devices that can help us age gracefully, and avoid US$100 problems turning into US$100,000 ones,” says Kate Whitcomb, Partner, HAX.

Applicants will be co-selected by HAX and a team from Centrica and focus on smart home technologies, smart security systems, non-invasive motion tracking technologies, sleep monitoring solutions, at-home health tracking systems and more.

HAX will invest US$250,000 in selected startups who will receive mentoring, education, networking opportunities and office space for up to one year in exchange for equity. The mentorship part will include product development, business development and commercialization from Centrica experts.

This partnership presents a world-class opportunity for startups looking to launch the next wave of smart home solutions aimed at serving the aging-at-home and caregiver market, and improve the quality of life of seniors.

Applications are now open to startups worldwide. Applicants are required to have developed a proof-of concept prototype and be ready to relocate to Shenzhen and San Francisco during the program.

Startups may use this link to apply to the program: https://hax.co/hax-centrica/

Source:

  1. Older People Projected to Outnumber Children for First Time in U.S. History (March 2018)
  2. Aging in Place: Growing Old at Home (NIH)
  3. Independent Living is the Top Choice for Seniors Today (Aging.com)

Media contacts HAX

For any further information, please contact:

ABOUT HAX

HAX is a venture capital-based program dedicated to accelerating industry, enterprise, health and consumer startups with a hardware element. It operates across two strategic locations, San Francisco and Shenzhen, and was featured in the hit documentary by WIRED “Shenzhen: The Silicon Valley for Hardware” (3 million YouTube views)

Notable investments from HAX include ‘rising unicorns’, Makeblock, Yeelink, Particle and Nura. HAX startups have raised funding from top-tier investors such as Sequoia Capital, Andreessen Horowitz and Khosla Ventures.

HAX is part of SOSV (www.sosv.com), the world’s third most active early-stage fund, investing in 150 deep-tech startups per year. With over US$525M in AUM, SOSV operates world-class ecosystem-focused programs including HAX (hardware), IndieBio and RebelBio (life sciences), Chinaccelerator and MOX (Mobile and web for Asia), FOOD-X (food), and dLab (blockchain technology).

For more information visit www.hax.co

ABOUT CENTRICA PLC

Centrica Plc is an international energy and services company. Everything we do is focused on satisfying the changing needs of our customers. We supply energy and services to around 25 million customer accounts mainly in the UK, Ireland and North America.

We are also developing new and innovative products, offers and solutions for customers globally, underpinned by investment in technology. Innovation underpins everything we do, which is why we’ve invested £100m in Centrica Innovations, a new venture to identify, incubate and accelerate new technologies and innovations that can help provide the right offers, products and services for our customers.

For more information visit www.centrica.com

ABOUT CENTRICA HIVE

Hive began back in 2013 with our customers telling us they wanted comfort and convenience and a thermostat they could control that was easy and simple to use. Today, with £500m investment from parent company Centrica plc, the Hive range of connected products has grown its range and geographical market into NA, Canada, UK, Ireland, Italy and most recently France, with more opportunities for global expansion.

Hive focusses on making everyday life a little easier, freeing people up to spend time doing the things they love. The range of Hive products and services are designed to work together, to offer affordable, easy to use solutions and make a difference in people’s lives. The total number of Hive connected home hubs has reached 1m worldwide.

For more information visit www.hivehome.com

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