Five finalists have been selected for the 2006 Boomer Business Plan Competition,
an annual Silicon Valley-based event that serves as an incubator for
entrepreneurs developing new products and services aimed at consumers age 45 and
up.
This year’s competition, co-produced by Santa Clara University’s Leavey School
of Business and Mary Furlong & Associates, attracted contestants from around the
United States and as far away as New Zealand and the Philippines. In all, more
than 75 business plans were submitted by college students and early-stage
companies with up to $1 million in annual revenue.
Plans targeted ventures in a range of industries poised for significant growth
as the population ages, including medicine, technology, fashion and financial
services. Competitors focused on the evolving needs and interests of America’s
78 million baby boomers, a generation with more than $2.5 trillion in spending
power that is fast approaching its golden years. The first wave of boomers began
turning 60 in January.
“The boomers need innovation,” says Mary Furlong, consultant and expert in the
boomer and senior markets. “The Boomer Business Plan Competition seeks to foster
innovation and help entrepreneurs of all ages and stages take their ideas and
build businesses out of them.”
The five promising ventures selected by the competition’s judges include::
• Renovus, a Stanford, CA-based business developing a waste-management
solution for people who have undergone ostomy surgery.
• Novelios Pharmaceuticals, a Durham, NC-based company developing a drug that
fights glaucoma.
• ALCiS Health, a San Jose-based company that develops and markets total body
therapy solutions, including topical pain relief products.
• iRhythm Technologies, a Stanford, CA-based company that has developed an
easy-to-use cardiac rhythm monitoring device.
• In Your Home, a Portland, OR-based company that modifies homes so that
older residents can continue living there independently and safely as they age.
Several of the finalist teams are headed by students or graduates of leading
universities, including Stanford, Duke and Santa Clara University. They were
selected from a pool of 20 semifinalists, all of whom will have their plans
reviewed by top Silicon Valley venture capitalists and boomer market experts.
The five finalists will present their plans to a panel of judges at the 2006
Silicon Valley Boomer Venture Summit on June 20 at Santa Clara University, where
a $10,000 grand prize winner will be chosen. For more information and Summit
registration, please visit
www.boomerventuresummit.com.
The winner will be chosen by a panel of judges that features distinguished
members of the venture capital, business, media and education communities,
including: Jennifer Fonstad, Managing Director, Draper Fisher Jurvetson; Michael
Goldberg, General Partner, Mohr Davidow Ventures; Emilio Pardo, Chief Brand
Officer, AARP Services, Inc.; Nancy Kamei, Senior Director, Digital Health,
Intel Capital; Jon Staenberg, Partner, Rustic Canyon Partners; Brad Vale, Vice
President, Johnson & Johnson Development Corporation.
The Silicon Valley Boomer Venture Summit’s sponsors include North Castle
Partners, AARP Services, Inc., Intel Capital, MetLife Mature Market Institute,
Silicon Valley Bank, Wells Fargo, Facebook, NBC, Story of My Life and CogniFit.
Marketing partners include: American Society on Aging’s Business Forum on Aging,
SmartSilvers Alliance, CEOnetworking, SVASE, Career Company, EBIG and GRANDtimes.com.
About the Co-producers
Leavey School of Business, Santa Clara University
Founded in 1926, the Leavey School of Business at Santa Clara University was one
of the first business schools in the country to receive national accreditation.
Its undergraduate business program is recognized as one of the best in
California, and its MBA program is ranked 10th in the nation among part-time
graduate programs for working professionals.
Mary Furlong & Associates works with companies seeking to capitalize on new
business and investment opportunities in this $2 trillion-per-year market. MFA
provides business development, financing strategy and integrated marketing
solutions to entrepreneurs, corporations and nonprofit organizations serving the
50+ market.
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globalagingtimes.com accepts no responsibility for their accuracy.
