Aging is big business.
A growing demand for everything from comfortable shoes to on-call caregivers prompted a New York Times headline to declare baby boomers as the hottest start-up market in 2016.
In fact, the sum of all economic activity devoted to serving the needs of more than 110 million Americans over age 50 now exceeds $7.6 trillion, a staggering amount that surpasses the total gross domestic product of any nation except the U.S. and China, according to an AARP/Oxford Economics report.
As we consider the drivers of the new longevity economy — what AARP describes as a powerful force of people, products and services that are changing the face of America — it is important to acknowledge the crucial roles that universities play in fostering this entrepreneurial enterprise that recognizes aging as an age of opportunity.
To read the entire breakdown on universities and their role in longevity and entrepreneurial advancements from The Milken Institute Center for the Future of Aging series, The Business of Aging, click here.