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8 innovators targeting the elder-care market

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Tapping into the longevity economy

The longevity economy, representing all economic activity serving the needs of Americans over 50, is expected to top $13.5 trillion by 2032, according to Oxford Economics. This opportunity isn't lost on savvy entrepreneurs.

Out of a total 290 entrepreneurs who attended the annual Boomer Summit last month in Chicago, 40 percent were entrepreneurs hoping to pitch their products to potential investors and get ideas on how to best appeal to this demographic. That was twice the amount as the previous year, and for the first time, they came from many different countries.

Katy Fike, co-founder of Aging2.0, a start-up accelerator program, and founding partner of Generator Ventures, a venture fund focused on aging and long-term care, said the industry is attracting graduates from top-tier business schools. Some entrepreneurs have already developed particularly successful products geared toward the demographic shift. Many of these ideas sprung from a personal experience and a desire to solve a problem endured by a loved one.

Here are 8 business owners who have already found millions in the longevity economy.

—By Julie Halpert, special to CNBC.com
Posted 08 April 2015

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