About Seniorcare Ageing Growth Engine (SAGE)
The Seniorcare Ageing Growth Engine (SAGE) has been introduced under the Atal Vayo Abhyuday Yojana (AVVAY) of the Ministry of Social Justice and Empowerment, Government of India. The initiative is aimed at promoting solutions that support active, dignified, and productive ageing.
In the context of social gerontology, the Silver Economy assumes increasing importance in addressing the emerging needs of India’s ageing population. SAGE seeks to encourage the development of innovative products and services for senior citizens by supporting entrepreneurs and start-ups working in the elderly care ecosystem.
The objective of SAGE is to identify, promote, and support innovative start-ups and start-up ideas that cater to the welfare and well-being of senior citizens. Start-ups are selected based on the novelty, relevance, and potential impact of their offerings. The initiative covers sectors such as healthcare, housing, care centres, and technology-enabled access to financial services, food, wealth management, and legal assistance for the elderly.
Under the SAGE initiative, the Government acts as a facilitator, enabling senior citizens to access dependable and appropriate products and services through selected start-ups. Financial support is provided in the form of equity investment of up to ₹1 crore per project through IFCI Venture Capital Funds Ltd., subject to the condition that the total Government equity in the start-up does not exceed 49 per cent. The SAGE Portal serves as a platform to encourage entrepreneurs and start-ups to participate in the Silver Economy, while also providing a single-window access for senior citizens to identify credible start-ups offering elderly care products and services.
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
a. 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’ products and services aimed at the welfare of the elderly in India. These initiatives aim to promote innovation, development, deployment or commercialization of new products, Solutions, processes or services driven by technology or intellectual property in the realm of elder care in India.
OR
b. 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.
Both (a) & (b) must meet the following essential criteria: -
1. Being incorporated or registered in India for less than ten years from its date of incorporation.
2. Annual turnover not exceeding Rs 25 crores in any of the preceding financial years.
3. Incorporated as a Company (Private / Public)
4. It is not formed by splitting up or reconstructing a business already in existence.
SAGE Scheme Beneficiaries List
| S.No | Logo | Beneficiary Name | Website |
|---|---|---|---|
| 1 |
|
Life Circle Health Services | https://lifecircle.in/ |
| 2 |
|
Primary Healthtech Pvt. Ltd. | https://www.primaryhealthtech.com/ |
| 3 |
|
Avyantra | https://www.avyantra.com/ |
| 4 |
|
Karevoyage Pvt Ltd | https://karevoyage.com/ |
| 5 |
|
Digital Succession Solutions Pvt Ltd | https://getyellow.in/ |
| 6 |
|
Casajoya Pvt Ltd | https://haxor.in/?srsltid=AfmBOooWCH-w5VWoCI97RgKRCaldtZJz73Xbg72ozWD1mI5yOOyCkvGz |
| 7 |
|
Nostalgic Dust Pvt Ltd | https://www.liveivory.com/ |
| 8 |
|
Newndra Innovations Pvt Ltd | https://www.newndra.com/about/ |
| 9 |
|
Anvayaa Kin Care Pvt Ltd | https://www.anvayaa.com/ |
Department of Social Justice & Empowerment
Ministry of Social Justice and Empowerment
Government of India
Contact Us
Department of Social Justice & Empowerment
8th Floor, GPOA-3, Netaji Nagar, New Delhi - 110023
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