The world’s population is aging, however the requirements of senior people are still being underserved. A United Nations report discovered that older individuals make up more than one-fifth of the population in 17 countries, and by 2100, a majority of the world’s population, or 61 %, will be aged 60 and above
. One of the most immediate requirements for families is caregiving, with demand overtaking the pool of qualified suppliers. This means many individuals in their forties and thirties are now part of the “sandwich generation,” managing jobs and child care while looking after elderly loved ones. This produces both a chance and challenge for tech start-ups and investors in practically every market all over the world.
In Southeast Asia, Homage is addressing the concern with a platform that takes a curated approach to combine households and caregivers, using a mix of in-person screening and its matching engine to make the procedure more efficient. Currently running in Singapore and Malaysia, the startup announced previously this year that it will use its Series B financing to expand into 5 new countries in the region.
Backed by financiers, consisting of HealthXCapital, Golden Gate Ventures and EV Ventures, Homage was co-founded in 2016 by ceo Gillian Tee, who grew up in Singapore and was influenced by her family’s own experiences trying to find caretakers. Tee states she wanted to build a platform that would make the process of matching clients and caretakers simpler, and be scalable into different markets.
“It’s not the most convenient space to be in, and I would say that you do require to want to be intentionally operating in this area, instead of simply falling under it. It goes hand in hand,” she informed TechCrunch. “We found that there is a big market chance, but why we’re doing it goes way beyond that.”
How Homage addresses the skill swimming pool lack
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.