Elderly technology an untapped investment resource for Boston venture capital firms

A Boston venture capital firm located in Kendall Square recently held an expert roundtable to discuss investment opportunities in the elderly population, Boston Business Journal.

A lot of technology firms in Boston are unaware of the "multi-billion" dollar opportunities that exist in what has been dubbed "The Grey Market."

"We really want young entrepreneurs and old entrepreneurs to understand this is a great opportunity," Jeet Singh, managing director and co-founder of the VC firm, told the news source. "We want to educate, inspire and hopefully help entrepreneurs with creating a new generation of businesses."

Approximately 50 entrepreneurs, investors and business school students attended the event. One opportunity that was touched upon was "aging-in-place" technology, which is becoming more important for older people as they want to stay in their homes as long as possible while their families want to avoid rising nursing home costs.

The news source points to another innovation from Cambridge-based Vitality, called GlowCaps. According to the company website, around half of America is on at least one prescription medication, and many older people face challenges to remember to take them as prescribed. The technology embeds prescription caps with wireless chips that flash when it's time to take a pill.

KLR offers services for industries that many other CPA firms in Boston may not be familiar with. Its technology consulting branch provides assistance for software developers, technology support services, hardware manufacturers and more.