In the midst of pandemic, 400 applications were received within three weeks from the launch of a government initiative to support start-ups that develop products and services for the elderly.
Submitted by the Department of Social Justice secretary R Subrahmanyam, The Indian Express on Wednesday in a show on the SAGE portal, selected companies will be supporting government equity participation up to Rs 1.
The portal is designed to provide a single-stop access to older care products and services by credible startups, Thaawar Chand gehlot, Minister of Social Justice and Empowerment, launched on 5 June.
Innovation products and services will be used for the selection of start-ups across sectors such as healthcare, housing, healthcare, access to technology, financial, food and wealth management, and legal guidance.
Gehlot said that the number of elderly people in the country is constantly on the rise, so the elderly must be kept healthy, financially and physically active. The website is open until the 30th of June.
Social Justice and Empowerment Ministers Rattan Lal Kataria emphasised that a robust care ecosystem in India, particularly in the face of the pandemic needs to be established urgently.
A quantity of Rs 100 was assigned Subrahmanyam said that the programme was designed to involve young people and their innovative ideas for elderly care as proposed by the Committee of Empowered Start-ups. It will help to turn elderly programmes into a national movement rather than a government programme, he said.
In the current financial year, a Rs 25 crore allocation was made for the SAGE project. The state will facilitate the access of the elderly by means of these found start-ups, Subrahmanyam said.
The population of the elderly in India is on the rise, with an expected increase of around 7.5% by 2026 in 2001 to 12.5% by 2026 as a percentage of the population of the country, which is expected to outweigh 19.5% by 2050.
