DEVELOPERS of devices for elderly Singaporeans received a $3 million boost from the Government yesterday.
It has set up a new fund to give them seed money to design and test gadgets to help elderly Singaporeans cope with ageing.
The fund is part of the new Silver Community Test-Bed Programme announced by Community Development, Youth and Sports Minister Vivian Balakrishnan when he opened a fair yesterday at Suntec International Convention and Exhibition Centre. The two-day fair of products and services for the elderly is held in conjunction with the Silver Industry Conference and Exhibition (Sicex) that ends today.
At least two companies are already eyeing the fund. Electrical products manufacturer Eubiq wants to develop an electrical socket that sets off an alarm if it gets wet. Another is designing a wireless watch that transmits to a clinic or hospital the blood pressure of its wearer in real time.
But these ideas have to be approved by a committee chaired by the president of property developer Ascendas, Mr Chong Siak Ching. Ideas can be submitted now to the Ministry of Community Development, Youth and Sports and the committee will select the successful proposals by June. Each proposal can receive seed funding of up to $300,000.
The programme also provides for the products to be tested for two years by 10 HDB households, each with at least one elderly member.
One of the volunteers, retired cleaning supervisor Hairon Sheriff, 73, said what would be especially useful is a device that can remind him about food cooking on a stove. "Sometimes, I forget to turn off the stove and the food gets burnt," he said.
But retired clerk Jessie Leong, 68, is worried that the products, while useful, will be expensive. Dr Balakrishnan acknowledged the issue of costs, but said: "The prices will come down if the products are viable."
The Government's focus is on developing and adapting new ideas and technologies to local conditions and producing prototypes for HDB living, he said. "Once proven that they work, the products should no longer need subsidies."
Medical device company HealthSTATS, which is developing the wireless watch that measures blood pressure, said the programmes will help it identify difficulties in using the device. "The scheme will also open doors to possible collaborations with other companies," said its chief executive officer, Mr David Sim.
With one in five residents expected to be 65 years or older come 2030, Singapore recognises the silver industry's business potential. A recent study indicates the consumer spending of Asia's baby boomers, now in their 50s and 60s, will go up to US$616 billion (S$883 billion) in 2015.
A harbinger of things to come was the attendance at the fair yesterday. About 43,000 senior Singaporeans tried their hand at playing frisbee, and visited stalls offering vacations and insurance packages tailored for them.
