Looking for solutions that empower older adults to engage in entrepreneurship
The future of work is changing. With advances in technology and increasing trends towards entrepreneurship, this brings with it exciting new opportunities for older adults to contribute their extensive skills, networks and experience to the economy and make a positive social impact.
Senior enterprise is one powerful means to empower older adults to contribute to society and create meaningful connections, creating resilient and sustainable businesses and social ventures, as well as leveraging the complementary skills and knowledge of younger adults for intergenerational collaboration.
However, there is currently a lack of opportunities and support for senior enterprise, and the means for all older adults to work with different generations in the entrepreneurial space.
Digital technology and ICT can play an enabling and enhancing role in this space, alongside non-technological solutions, tools and infrastructure can also help older adults to engage in enterprise across generations. This could include diverse means such as mentoring, coaching and other skills-sharing platforms, as well as stimulating the creation of freelance and entrepreneurial initiatives led by older adults, allowing this generation to transition effectively in a changing economy.
Businesses of the future should harness the skills and assets of all generations to enable people to work together and thrive through enterprise.
This 50,000 EUR challenge prize is seeking solutions that support, empower and inspire older adults to engage in entrepreneurship, for example through the creation of intergenerational teams and skills-sharing, or digital solutions to help bring to life the entrepreneurial ideas and energy of the 60+ age group.
The prize pot would be split into 3 awards:
The Challenge Prize will work with the most innovative and impactful applications to develop their business propositions.
You must apply for the Challenge Prize by 17:00pm CET on Wednesday 26th February 2020
March to August 2020
Our judging panel will choose 15 of the most promising applications as semi-finalists. These applicants will be invited to a mentoring Academy in Brussels in June 2020.
Following the Academy and with the support of their business coaches, the 15 semi-finalists will submit a detailed business plan to the judges.
Aug – Sept 2020
From these plans, the judging panel will select 5 top finalists to pitch their projects at the AAL Forum.
Out of the finalists, one winner will receive a top prize of €35,000. A second place prize of €10,000 and a judges’ choice prize of €5,000 will also be awarded.