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BCG Digital Ventures

 

Caring for elder family members who choose to live at home is becoming increasingly difficult and expensive. While Mobile and the Internet of Things (IoT) technology has spread to meet every imaginable need, the eldercare industry has not embraced the potential of applying advances in digital technology to the market for senior emergency alert systems.


BCG Digital Ventures is a global corporate venture firm that invents, builds, scales and invests in startups. They recognized a market opportunity to develop both a wearable product and an emergency alert response business model. Their product Silverfox is the result of that internal initiative.


The team followed a human centered approach to work on a wearable and app. The wearable went through six iterations. The team tested ideas ranging from a smart-shirt button to a modified smartwatch and everything in between. The threefold form of bracelet, brooch and necklace was found to be the most convenient and attractive for seniors, as it can be adapted for all genders, daily routines and personal styles, even for the elderly person potentially struggling with forgetfulness or unaccustomed to modern technology.

Along with the prototype product, the team created a unique business model that caters to users with a limited budget. Current business models rely on connection to a third-party emergency response center that proves both unappealing to seniors as well as expensive. The Silverfox alert and assistance service is built to connect the care circle across platforms and devices – from the senior’s wearable to landline, mobile and smartphone.

 

That choice challenged the team further, as the technology had to be easy to understand for responders of all ages and levels of familiarity. But by choosing family and friends as first responders, the service can be offered at a lower cost, and also allows for daily contact and interaction.

 

Silverfox brings advanced digital technology to the eldercare market, allowing seniors to live more independently at home.


 

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