What is the news : Social Justice and Empowerment Minister launched Senior care Ageing Growth Engine or SAGE project

What is SAGE project:

• Launched to select, support and create “one-stop access” of elderly care products and services provided by credible start-ups.
• Formulated following the recommendations of empowered expert committee report on start-ups for elderly.
• Start-ups can apply to be a part of it through dedicated portal. This dedicated portal will also be launched along with the scheme.

How start-ups will be selected?

Start-ups will be selected based on their innovative products and services, which they can provide across sectors like housing, health and care centres. They will also be selected based on technological access linked to finances, food & wealth management besides legal guidance.

Who will facilitate the scheme: Ministry of Social Justice and Empowerment will be the facilitator to enable elderly to access products through these identified and verified start-ups.

What was the need of this scheme: This scheme was required in the light of increasing share of elders. As per a survey, share of elders with respect to total population in percentage term is expected to increase from 7.5 per cent in 2001 to about 12.5 per cent by 2026.