Media Release: Launch of the Global Centre for Modern Ageing®
A door has opened to the future of how one-in-five Australians will be able to live and age well.
The Global Centre for Modern Ageing®, formally launched today by South Australian Premier Steven Marshall, will spearhead this new way of living.
The Centre has been established so people, businesses, researchers and governments can work together to seize the opportunities of Modern Ageing.
“We want all residents to live purposeful lives, enjoy good health and thrive in the wonderful environment we have, here in South Australia,” Mr Marshall said.
“The Global Centre for Modern Ageing® will play a key role in this.
“Through market development, partnerships, research and learning, the Centre will help businesses, organisations and individuals to devise, build and commercialise products and services that enable people in their 60s, 70s, 80s, 90s and more to live and age well.”
The Global Centre for Modern Ageing® is the leading organisation operating in this space not only nationally but more broadly in the Southern Hemisphere, and among the best-in-class globally.
The Centre has built a living laboratory – called LifeLab® – a nation-leading, testing and innovation facility which allows people in their 60s and older to co-design products and services with businesses in as close as possible to a “real-life” environment.
The Centre’s chair, renowned businessman Raymond Spencer, said the Global Centre was off to a great start with a commissioning phase proving it is now open for business.
“Modern Ageing recognises that there is a fundamental shift in how we live today,” Mr Spencer said.
“Instead of working until retirement and then becoming ‘old’, in modern ageing our lives play out in phases. Each phase creates a new and different opportunity to contribute to society in a meaningful way - through work, learning, enterprise, leadership and community.”
Among the first projects secured by the Centre are initiatives with international technology giant IBM and leading publisher Pacific Magazines.
IBM's Asia Watson Health managing director, Terry Sweeny, said the company was committed to developing and applying technologies so people of all ages and abilities could live more productive and meaningful lives.
"We aspire to improve lives and give hope by delivering innovation to address the world's most pressing problems,” Dr Sweeney said.
“Helping the world’s ageing population manage life's vital decisions, prolong independence and stay more connected is an incredibly important part of the mission, and IBM wants to be part of building that future."
Pacific Magazines will work with the Centre on projects to assist its advertising partners understand the new demographics and host a national initiative highlighting Modern Ageing.
“We’re also partnering with the Centre to run a national photo competition where readers can get involved in crafting what this new phase of life means and looks like,” said Julia Zaetta, editor-in-chief of Pacific Magazines’ masthead Better Homes and Gardens.
Australia’s population is ageing as part of a worldwide trend because of increased longevity and lower fertility rates.
The Australian Bureau of Statistics projects that by 2050 there will be 8.8 million residents aged 65 and over in a population of 42 million. That is, 21 per cent of us will be 65 or older.
In the Asia-Pacific, the number will grow from just over half a billion now to 1.3 billion by 2050. That is, in our region alone, an extra 800 million older people - an increase of more than 30 times the entire population of Australia.
Global Centre for Modern Ageing® Chief Executive Officer Julianne Parkinson said this represented an enormous opportunity for Australia.
“We are here to give an edge to businesses wanting to gain early-mover advantage in developing products and services which truly meet the wants and needs of people,” Ms Parkinson said.
“The sheer size of the market, changing preferences and consumption patterns as evidenced by the data (both in Australia and overseas), should excite the business community to invest time to understand this new and dynamic set of consumers which is creating opportunities for people of all ages.
“Gaining a considered and informed view will equip entrepreneurs to target the vast array of wants and needs that the market has not yet fully recognised.”
Ms Parkinson said people are looking for more and better choices such as:
Flexible arrangements that allow them to continue to participate as workers or volunteers for longer.
Meaningful social activities.
More nutritious, tasty food.
Packaging which is clearer and easier to use.
More consideration in the facilities and services which enable enjoyable experiences such as art, music and sport.
Physical activities they can participate in.
Products created using advanced manufacturing which promote wellness, mobility, security and engagement.
And the management systems to ensure people are cared for properly, sensitively and respectfully as they age.
The Global Centre for Modern Ageing® will lead businesses in identifying and meeting these market opportunities. As well as the work of its flagship LifeLab, the Centre will provide a range of services including:
Mapping and understanding of the eco-system for Modern Ageing, including curating a global alliance of Modern Ageing.
Research and insights.
Business advisory services
Advocacy from evidence-based positions.
The Centre is headquartered in the key industrial rejuvenation site in Adelaide’s inner southern suburbs, the Tonsley Innovation District.
It has been founded with seed funding from the South Australian Government.
People, businesses and researchers interested in finding out more about the Centre can register at the Centre’s website.
