Silver economy: the innovations to back to support the demographic transition
People aged over 65 represent more than 20% of the French population and, according to Insee projections, this share is expected to increase sharply through 2040. Drawing on testimony from several players in the ecosystem, the article lists three trends: financing ageing in place, new ways of liquefying wealth, and treating the causes of "ageing poorly".
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People aged over 65 represent more than 20% of the French population. According to Insee projections, this share is expected to increase sharply through 2040. This demographic transition, or papy boom, creates new economic opportunities.
"Generalist players are starting to take an interest in ageing issues," notes Romain Ganneau, CEO of Silver Valley. This innovation cluster dedicated to the demographic transition has 200 members, from SMEs and startups to large groups. "We have more and more members who are not pure players in the silver economy. They are banks, insurers, social landlords, mutuals, and large technology companies that tell themselves '25 to 30% of our clients are retirees, let's work on that target.'" Demand for services dedicated to this segment of the population is indeed growing. Drawing on testimony from several players in the ecosystem, Maddyness has listed three trends to keep looking at.
Financing ageing in place
For Coline Guénel, co-founder of startup Colette, remaining at home is one of the biggest challenges for ageing well. "When they no longer go to work, seniors lose a first landmark. Some of them no longer have their spouse. The house or apartment, where some of them have lived for decades, is often the last landmark," observes the COO. Colette therefore offers seniors the chance to rent a room to young people, which restores their purchasing power and, at the same time, allows them to be less alone.
Mortgage loans and wealth-backed loans are another way to finance remaining at home.
New ways of liquefying wealth
"Today, retirees are increasingly aware that their pension will not, for some of them, allow them to continue financing remaining at home," notes Romain Ganneau. They can then turn to ways of liquefying their real estate wealth.
Treating the causes of "ageing poorly"
Before thinking about the consequences, it would be relevant to treat the causes. That is what Stanislas Veillet argues for, author of the book "Vivre longtemps et en bonne santé" and CEO of biotech Biophytis. "With more investment, I think we could treat most age-related diseases, which cause people to lose their autonomy and all social ties. That would generate enormous savings for social security. But innovation in therapeutic diseases is moving more slowly than the demographic transition," regrets Stanislas Veillet.
The CEO mentions the possibility of creating a senior-drug status, which would make it possible to accelerate the market-approval process. "We saw it during the Covid crisis: when political authorities want to take on a public health problem, we manage to act in a few months. Why are we not doing it for age-related diseases?" he asks. "Regulatory agencies need to recognise the urgency."