The World Health Organization, using Census 2011 data, shares that India has over 100 million people above the age of 60.
Meanwhile, the Stanford Center of Longevity released its map of the new 100-year life which does not follow linear patterns of education, job, retirement etc. but can have many intersection dimensions as people live longer.
One of the biggest concerns around growing old is health.
The founders of 60Plus India, Arasi Arul, Oli Arul, and Vivek Raja, were inspired to start up this company after seeing the helplessness of their friends and family who were unable to reach out and take care of their senior citizen parents during the pandemic. With the help of their father, a doctor and patient management expert, they provided trusted medical and patient management advice and support to at least 30-35 of their friends and family.
Seeing the need for an end-to-end parent management technology platform, 60Plus India was born to serve the 40 Million senior citizens who are living away from their children in India. Through their online aggregator platform, NRIs are able to book services and buy products for their parents in India while managing their medical and personal data.
60Plus India has been in business for one year, with over 2,000 customers and onboarded more than 200 service providers and raised pre-seed funding of USD125K. Currently, their presence is in over 15 cities and 5 states in India.
The 60Plus India App solves problems such as data management of personal and medical records of parents, ease of sharing and communicating between doctors, caretakers, children living abroad and other stakeholders, constant and regular updates of the parent to the children, and an instant booking feature.
Their most unique feature is their data management module, where all the medical and non-medical features of the senior citizen parents are maintained. Their distinct instant booking feature is also currently only available with them. Additionally, they promise vetted, verified, and trained service providers with police verification processes.
They have also been awarded by the Hon’ Finance Minister of India, Mrs. Nirmala Sitharaman, as the SHESTAR – promising Top Women Start-up Entrepreneur of Tamil Nadu – Dhruv Awards in Coimbatore on May 5, 2022. Additionally, they were recognized as the TOP 20 WOMEN-led startups to be watched in TamilNadu by Tamilprenuer Forum, and have been covered in the Indian Express Bangalore Edition and a monthly senior citizen magazine “Amuthasurubi”.
Their revenue model includes subscriptions, service fees, commission, sales, and rental of products. Most of their customers reach them for healthcare services, but over time, many also reach out for emotional care, personal care, and product purchase services.
Their competitors include players in the senior care sector such as SilverGenie, Emoha, Anvayaa, and Tribeca. They differentiate themselves by their data management feature, instant booking feature, aggregator model, services in emotional care and personal care, and vetted, verified and trained service providers with police verification process.
Their short-term scaling strategy consists of expanding to multiple states, creating a college student and senior citizen matchmaking buddy system, and having a fully functional, state-of-the-art mobile app.
Meanwhile, beyond health, the other emerging challenges could be loneliness, financial security and more which need to be addressed for the overall well-being of senior citizens. And many of them can actively contribute to the economy through their skills and experience.
For 60Plus, as they scale further and keep solving real problems for senior citizens and their families, they plan to have a presence in every Indian state and in every major city.
We have leveraged AI to generate this entire article and synthesize the images for the same.
