BetterAge Company Profile

Background

BetterAge, founded in 2020, is a public benefit corporation dedicated to enhancing the health and well-being of older adults globally. The company's mission is to provide personalized, science-backed insights and recommendations that empower individuals to take proactive steps toward healthier aging. By integrating expertise from aging services, positive psychology, gerontology, and healthcare, BetterAge aims to address the holistic needs of the aging population.

Key Strategic Focus

BetterAge's strategic focus centers on developing a collectively intelligent digital platform that offers hyper-personalized assistance to older adults. This platform evaluates multiple dimensions of well-being, including social determinants of health and individual preferences, to generate actionable data insights and guidance. By leveraging advanced technologies and collaborating with community organizations, BetterAge targets the diverse needs of older adults, including underserved communities, to improve their quality of life.

Financials and Funding

In April 2024, BetterAge was awarded a $2.5 million Small Business Innovation Research (SBIR) grant from the National Institute on Aging. This funding supports the development of their innovative web-based platform designed to enhance the well-being of older adults and their caregivers. The grant facilitates initial research, platform refinement, and a randomized controlled trial to validate its efficacy.

Pipeline Development

BetterAge is actively developing its web-based platform, which assesses twelve domains of well-being and provides personalized, actionable plans for older adults. The development process includes collaboration with six leading community-based organizations across Texas, New York, Massachusetts, and Pennsylvania. The project is structured in two phases: initial research and testing to refine the platform, followed by a randomized controlled trial to validate its effectiveness. A key focus is on inclusivity, ensuring the platform meets the diverse needs of older adults, including underserved communities.

Technological Platform and Innovation

BetterAge's platform stands out due to its comprehensive, rules-based expert system that evaluates multiple dimensions of well-being. By integrating evidence-based advice and personalized assessments, the platform offers tailored, actionable plans for older adults. The use of advanced data analytics and machine learning algorithms enables continuous improvement and adaptation to individual needs. Additionally, the platform captures new data and insights to inform organizations and policymakers, contributing to broader public health initiatives.

Leadership Team

Diana Yin, MPP, MBA: Co-Founder & Chief Executive Officer

James Firman, MBA, Ed.D.: Founder & Chief Innovation Officer

Stephen Engels: Chief Technology Officer

Michael Webb, MPA: Chief Data Officer

Ronald Kaiser, Ph.D.: Chief Immersion Officer

Nicole Leon, MSG: Gerontologist

Joseph Schneier: Co-Founder & Board Member

Judy Toran Cousin, MBA: Chair of the Board

Jay Greenberg, MS, Sc.D.: Secretary of the Board

The leadership team brings together diverse expertise in healthcare, technology, gerontology, and business, driving BetterAge's mission to improve the lives of older adults.

Competitor Profile

Market Insights and Dynamics

The market for digital health solutions targeting older adults is expanding rapidly, driven by the aging global population and the increasing demand for personalized healthcare services. Innovations in technology and data analytics are enabling more effective and scalable solutions to address the complex needs of this demographic.

Competitor Analysis

Key competitors in this space include companies like Motitech, which combines exercise bikes with customized local videos to motivate older adults and individuals with dementia to stay active. Their product, Motiview, has demonstrated benefits such as improved mobility, reduced falls, and enhanced well-being.

Strategic Collaborations and Partnerships

BetterAge collaborates with various community-based organizations and research institutions to enhance its platform and reach. Notably, the company is working with six leading community-based organizations across Texas, New York, Massachusetts, and Pennsylvania as pilot and research sites. These partnerships facilitate the development and validation of the platform, ensuring it meets the diverse needs of older adults.

Operational Insights

BetterAge's strategic approach involves leveraging advanced technologies and data analytics to provide personalized health assessments and recommendations. By collaborating with community organizations, the company ensures its solutions are grounded in real-world needs and contexts. This approach differentiates BetterAge from competitors by combining technological innovation with community engagement to deliver impactful solutions for older adults.

Strategic Opportunities and Future Directions

Looking ahead, BetterAge aims to expand its platform's reach and impact by forming additional partnerships with community organizations and healthcare providers. The company plans to enhance its platform's capabilities through continuous research and development, incorporating user feedback and emerging technologies. By focusing on inclusivity and personalization, BetterAge is well-positioned to address the evolving needs of the aging population and contribute to broader public health initiatives.