In the field of social gerontology, silver economy plays the major role in living of ageing population. Objective of SAGE is to call for the innovative ideas for the elderly care and promoting them into start-ups by providing equity support.
Start-ups will be selected on the basis of innovative products and services. Sectors such as health, housing, care centers, apart from technological access linked to finances, food and wealth management, and legal guidance.
The Government acts as a facilitator, enabling the elderly to access the products through these identified start-ups. The selected Start Ups / Start-up ideas is provided equity support of upto Rs. 1 crore per project through IFCI (Industrial Finance Corporation of India) while ensuring that the total Govt. equity in the start-up should not exceed 49%.
The SAGE portal would encourage entrepreneurs and start-ups to enter the “silver economy” and thereby promote business innovation as well as provide a “one-stop access” of elderly care products and services by credible start-ups.
Seniorcare Ageing Growth Engine (SAGE) : An Initiative for promoting aged-care products and services by Ministry of Social Justice and Empowerment, Government of India. The Seniorcare Ageing Growth Engine (SAGE) is to identify, evaluate, verify, aggregate, and deliver products / solutions / services directly to the stakeholders, giving them wide choice to select the products / solutions / services that would suit their requirements, thereby improving their quality of life. The Ministry of Social Justice and Empowerment would act as the facilitator in the process while ensuring that the products / solutions / services are made available to a large number of needy people.
Government of India
