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By 2060 one in three Europeans will be over 65. Furthermore, the ratio of working people to the 'inactive' others is shifting from 4 to 1 today to 2 to 1 by 2060, putting a huge responsibility over the shoulders of European workers. Consequently, total government spending on pensions, healthcare, long-term care, unemployment benefits and education within the EU will increase by almost 20 per cent (or 4.1 percentage points of GDP) between 2010 and 2060, while expenditures for long-term care will double.

Prevention, early diagnosis and chronic conditions are essential to limit this tendency. Technology can be useful in this regard: innovation can help European citizens to get older while maintaining a good quality of life and within an adapted and aged-friendly environment (such as smart homes). Innovative devices can improve independent living as well as the quality and the delivery of care which are key to increase the autonomy of the elderly. They can facilitate social interaction with relatives and friends when mobility is constrained. Technological support can also ease the work of services providers through an integrated and person-centered approach of care, especially when multiple carers are acting at the service of one beneficiary. Such assistive devices also allow a constant control of spending: facilitating a cost-efficient provision of care while delivering high quality services.

Innovation has therefore many positive effects and constitutes a “worth-investing approach” for public authorities, notably to create more sustainable care systems. However technology’s potential in this field is yet untapped. To support such an initiative and to boost technological innovation in long-term care, the involvement of diverse stakeholders is necessary. Private companies, particularly SMEs and start-ups, are already enrolled in the so-called Silver economy, recognized as a growing market. The European Commission encourages exchange of practices through platforms gathering public authorities, users’ representatives, providers of care services and industry of care. It also funds applied research and innovation in this field through projects gathering such partners for instance Public Private Partnerships.

In this context, raising awareness about the potential of the Silver Economy and linked technologies is definitely still on today’s agenda. Actually, much remains to be done to extend stakeholders’ interest and engagement, notably at the local and national level.

This ninth Policies and Practices’ session, will focus on:

-       The main strengths of innovation to provide long-term care services

-       The role of Public Private Partnerships to develop technological support for independent living

-       The challenges to overcome and the tools to unleash the Silver Economy potential

Speakers addressing these issues include: