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NIC Awards Milken Institute $3 Million to Establish Aging Innovation Collaborative

The National Investment Center for Seniors Housing and Care (NIC) has awarded $3 million to establish a new collaborative aimed at creating new ideas and concepts meant to serve an incoming generation of older adults.

The funding has been awarded to the Santa Monica, California-based Milken Institute to establish the Aging Innovation Collaborative (AIC) within the Center for the Future of Aging.

AIC is starting with three initial offerings. They include a study tracking the attitudes and preferences of adults aged 50-80 over time with initial results expected in 2024, the formation of an advisory council consisting of consumer goods and retailers, housing, government, healthcare providers and payers, technology and capital markets and, and a push to provide advisory services to organizations that “enhance the health and housing of older adults but that lack the capacity or expertise for innovative solutions.”

According to a press release, the collaborative’s mission is to “engage with experts” to develop new forms of housing, healthcare and community in the U.S. for the aging population. By removing silos, the release said, AIC plans to identify and scale “comprehensive” solutions to address these needs.

“Housing and long-term care stand at a crossroads as millions of Baby Boomers think about how they want to live their best life after retirement,” Raymond Braun, president and CEO of NIC said in the release. “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.”

Nexus Insights, a think tank dedicated to aging that was founded by NIC Strategic Advisor and Co-Founder Bob Kramer, is being merged with AIC and will share “intellectual and human capital” to contribute to daily work as AIC fellows.

With the creation of the AIC, NIC will become a strategic partner of the Milken Institute and will have seats on the Center for the Future of Aging advisory board, the AIC advisory board and the Aging Innovation Council, Braun told Senior Housing News.

Kramer founded Nexus Insights in 2020. He previously was CEO of NIC until he stepped down from that role in 2017.

“It’s an exciting time to join forces with the Milken Institute to help people meet their expectations for aging,” Kramer said in the release. “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.”

The AIC will be fully in operation in early 2024.

The post NIC Awards Milken Institute $3 Million to Establish Aging Innovation Collaborative appeared first on Senior Housing News.

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