The Minister of Social Justice and Empowerment launched the SAGE (Seniorcare Aging Growth Engine) initiative and SAGE portal for elderly persons.
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The SAGE portal will be a “one-stop access” of elderly care products and services by credible start-ups. The SAGE portal will be opened for applications from 5th June, 2021 onwards.
The start-ups will be selected on the basis of innovative products and services, which they should be able to provide across sectors such as health, housing, care centers, apart from technological access linked to finances, food and wealth management, and legal guidance.
The SAGE portal has been prepared and finalised in record time by Mr. Chandrasekhar Buddha, CEO, NEAT, M/o Education along with Dr. Elengovan, Assistant Innovation Director, M/o Education.
The Ministry of Social Justice & Empowerment will act as a facilitator for this scheme. A fund of uptoRs.1 crore as one-time equity will be granted to each selected start-up. An amount of Rs 100 crore has been assigned for the promotion of the silver economy. An allocation of Rs 25 crores has been made for the SAGE project in the current financial year i.e 2021-22.
