About Seniorcare Ageing Growth Engine (SAGE)

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.

Why we are running this Scheme:-

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.

Eligibility Criteria:-

1. Innovative ideas awarded in the National level innovation challenges such as Smart India Hackathons (of M/o Education) or such other innovative drives – proposing to set up companies and offer products and services for the welfare of the elderly in India.
2. Start-ups already functioning in the elderly segment in India proposing to expand operations.All the startups fulfilling the startup norms as per guidelines by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce, Govt. of India are eligible for applying.
3. Being incorporated or registered in India for less than ten years from its date of incorporation.
4. Annual turnover not exceeding Rs 25 crores in any of the preceding financial years.
5. Incorporated as a Company (Private / Public)
6. Aims to work towards innovation, development, deployment or commercialization of new products, Solutions, processes or services driven by technology or intellectual property in the realm of elder care.
7. It is not formed by splitting up or reconstructing a business already in existence.