New Delhi [India], December 11 : The Senior-care Ageing Growth Engine (SAGE) scheme, launched by the Department of Social Justice and Empowerment, is fostering innovation in elderly welfare by supporting startups focused on developing products, services, and processes tailored to the needs of senior citizens.
According to the Ministry of Social Justice & Empowerment, through a transparent and effective process, these startups are provided equity funding, with the government's investment capped at 49 per cent of the total equity, ensuring a balanced approach to nurturing growth and innovation.
Implemented in collaboration with IFCI Venture Capital Funds Ltd. as the Investment Manager, the scheme has successfully funded 14 startups over the past three years, driving the development of new, impactful solutions for the ageing population.
In addition to supporting startups, the Department is also providing grants to Non-Governmental and Voluntary Organizations that run senior citizen homes and continuous care facilities.
These homes offer free shelter, nutrition, medicare, and entertainment for indigent senior citizens, ensuring they receive the care they deserve.
In a written reply to a question in Rajya Sabha on Wednesday, Union Minister of State for Social Justice and Empowerment, BL Verma, provided insights into the third-party evaluation study conducted for the Rashtriya Vayoshri Yojana (RVY) under the Atal Vayo Abhuyday Yojana (AVYAY).
The study, completed in June 2024, made several recommendations to enhance the reach and impact of the program. Among the key suggestions were employing a multi-channel communication strategy that includes local media, social media, direct community outreach, and collaborations with local NGOs and health workers to effectively reach all segments of the population.
Further, the study emphasized adopting alternative distribution methods, such as partnering with primary healthcare centers for local distribution.
It also suggested organizing regular assessment camps at the village level, involving local leaders and community organizations to promote the scheme.
The introduction of new items in the scheme, such as ergonomic furniture, adaptive clothing designed with Velcro closures, memory devices, therapeutic activity kits, and home modification supports, was also recommended to better cater to the needs of the elderly.
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