The Santa Monica, CA-based Milken Institute has received a $3 million grant from the National Investment Center for Seniors Housing & Care to establish the Aging Innovation Collaborative within Milken’s Center for the Future of Aging.
The center’s purpose, according to the institute, is to advance “healthy longevity and financial security for all through high-impact policies, research, convenings and multisector partnerships.”
“This commitment to the Milken Institute brings talented individuals from diverse backgrounds together to transform how we think about aging in the United States, Raymond Braun, president and CEO of NIC, said in a statement. “The Aging Innovation Collaborative will become a font of ideas for consumer advocates, real estate developers, senior housing operators, healthcare providers and payers, policymakers and others.”
The initial work of the collaborative will be threefold, according to NIC, starting with a research study that will track attitudes and preferences of adults aged 50 to 80 over time, with initial results expected next year.
The AIC also will form an advisory council that will include leaders from the government, healthcare, capital markets and others.
“By removing silos across industries to share ideas and technologies, the council will create new housing, healthcare, and community solutions for the aging population,” NIC said.
Additionally, the AIC will be tasked with providing “advisory services to organizations wanting to enhance the health and housing of older adults but that lack the capacity or expertise for innovative solutions.”
Nexus Insights, an Arnold, MD-based think tank founded by NIC founder Bob Kramer, will be working with the AIC, bringing its experts on aging. Kramer, the 2023 McKnight’s Pinnacle Award Career Achievement Award recipient, is also a strategic adviser to NIC and is expected to contribute to the AIC’s daily work.
“It’s an exciting time to join forces with the Milken Institute to help people meet their expectations for aging,” Kramer said. “Older adults have diverse backgrounds, interests, healthcare and social needs, and they want and expect housing and care that is as unique as they are. Aging is a good thing, and we need disruptive innovation to create housing and care that supports older adults’ ability to not just age but thrive.”
Diane Ty, senior director of the Milken Institute’s Center for the Future of Aging, said that the collaborative will “examine the intersection of sectors to create new companies and platforms that benefit older adults.”
