Scrum Studio and Hakuhodo Launch AgeTechX to Redefine the Future of Health and Longevity

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Dec 01, 2023, 08:00 ET

Applications Open for Scrum Studio's Seventh Open Innovation Program Offering Co-Development & Investment Opportunities for AgeTech Startups

SAN FRANCISCO, Dec. 1, 2023 /PRNewswire/ -- Scrum Studio Inc., in partnership with Hakuhodo, announces the launch of AgeTechX, a visionary open innovation program dedicated to helping scale and grow startups developing products and solutions working to revolutionize the $2 trillion field of aging-related technology and services by collaborating with Japanese corporations.

Demographic Shifts Drive Need for AgeTech Innovation

According to the World Health Organization, there is a significant demographic shift on the horizon: by 2030, one in six individuals globally will be aged 60 or older, with the world's population of people aged 60 and above expected to double to 2.1 billion by 2050. Moreover, the number of individuals aged 80 or older is projected to triple by 2050, reaching a staggering 426 million. This demographic transformation presents an enormous opportunity for startups to pioneer innovative solutions catering to this growing aging population.

"In a world where the aging population is on the rise, we started AgeTechX to encourage innovation, uniting startups and industry pioneers to shape the future of aging-related technology and services, " said Yuya Watanabe, Program Associate with Scrum Studio. "Together with our partner, Hakuhodo, we invite the world's most visionary entrepreneurs to join us on this transformative journey towards a healthier and more connected 100-year life."

"The mission of the Hakuhodo Senior Business Force is to expand our DNA of 'sei-katsu-sha thinking' to '100 years of sei-katsu-sha thinking' to gain deeper insight into individual seniors and create new values," said Jun Matsuda from Hakuhodo Senior Business Force. "Our mission is to create value through deep insight into seniors. AgeTechX aims to create businesses that solve the problems of Japan's aging society together with startups from around the world that have new ideas and technologies. We hope to create a prosperous society where people want to live to be 100 years old."

Program Connects Startups with Japanese Corporates to Encourage Innovation

AgeTechX is a groundbreaking global initiative between Hakuhodo, renowned for its expertise in senior consumer-oriented ventures, and Scrum Studio, an affiliate of Scrum Ventures known for its commitment to fostering innovation, designed to ignite innovation by connecting startups from around the world with cutting-edge technologies and applications across diverse sectors. With the participation of industry experts and forward-looking municipalities, this program is poised to catalyze dynamic collaborations between startups and Japanese corporations spanning various industries.

The 'AgeTechX' initiative will focus on the following key areas:

Anti-Aging / Care
Regenerative Medicine
Treatment, Regenerative Medicine
Empowered Independent Living / Cognition
Personalized Health Management
Connected Care and Support
Lifelong Learning and Enrichment
Economic, Life Planning

Startups from around the world are invited to participate in this transformative program, which offers selected candidates a unique opportunity for business co-creation alongside leading corporations. Participants will also gain access to a series of enriching events, including kickoff sessions and demo days meticulously designed to accelerate their growth and impact.

'AgeTechX' seeks collaborative ventures with diverse industries, corporations, and municipalities dedicated to nurturing a society enriched by technology-powered well-being and healthy aging. Companies aspiring to explore innovative solutions and address societal concerns through regional Proof of Concept (PoC) initiatives are encouraged to engage. The program offers comprehensive support, aiding exceptional startups in establishing a presence in Japan. The Studio programs boast a track record of helping startups enter the Japanese market with two previous Studio participants entering the market.

Applications are being accepted for AgeTechX' 2024 until February 29, 2024. To apply, please visit the official application page here.

Exceptional startups participating in 'AgeTechX' may also attract the attention of Scrum Ventures for potential investment opportunities, further boosting their growth prospects.

About Scrum Studio, Inc.
Scrum Studio, Inc. is an open innovation platform formed to bridge the gap between iconic Japanese corporations and startups from around the world. The platform focuses on three pillars to create new business opportunities: acceleration, incubation, and connection. Its vertical studio programs include SmartCityX, and Food Tech Studio - Bites! Learn more at https://scrum.vc/studio/.

About Scrum Ventures
Scrum Ventures is an early-stage venture firm based in San Francisco with a growing Tokyo office. With entrepreneurial expertise and a strong network in Japan, we actively support portfolio global growth and success. Learn more at Scrum Ventures.

About Hakuhodo Inc.
Founded in 1895, Hakuhodo is an integrated marketing solutions company headquartered in Tokyo, Japan. With offices in 20 countries and regions, and over 10,000 specialists working in Japan and around the world, Hakuhodo is the world's second largest advertising agency according to Ad Age's "Agency Report 2022." The company is the core agency of the Hakuhodo DY Group. Sei-katsu-sha insight is the foundation for Hakuhodo's thinking, planning, and brand building. It reminds us that consumers are more than shoppers performing an economic function. They have heartbeats. They are individuals with distinct lifestyles. Hakuhodo introduced this term in the 1980s to emphasize its commitment to a comprehensive, 360-degree perspective on consumers' lives. With sei-katsu-sha insight as its cornerstone, Hakuhodo combines creativity, integrative capabilities, and data and technology to play a leading role in evolving companies' marketing activities and generating innovation for the digitalized era. This enables the company to impact and provide value to sei-katsu-sha and society. Renowned for its creativity, Hakuhodo has won the Grand Prix at Cannes Lions International Festival of Creativity twice, and was named Network of the Year at ADFEST 2021.

SOURCE Scrum Ventures