Manulife has launched the ‘Innovating for Asia’s Demographic Future Challenge’ through UpLink, the World Economic Forum’s (WEF) early-stage innovation initiative.
In collaboration with UpLink and the Forum’s Centre for Financial and Monetary Systems, Manulife invites startups, innovators, and changemakers to propose solutions that promote long-term financial resilience, well-being, and fulfillment across multi-stage lives in Asia.
“To help people live better for longer, we must rethink traditional approaches to investments, insurance, health care, and workforce participation,” said Manulife global chief sustainability officer Sarah Chapman, adding that the challenge is an opportunity to invest in groundbreaking innovations addressing demographic shifts and improving health, wealth, and quality of life.
By 2050, one in four people in Asia will be over 60, driven by increased life expectancy and declining fertility rates. As societies adapt, the conventional ‘school, work, retirement’ model is evolving into a more fluid lifecycle of learning, working, caregiving, and recreation.
Manulife’s Asia Care Survey underscores the link between physical, financial, and mental well-being, highlighting concerns over rising healthcare costs and insufficient savings.
The challenge, the second of three longevity innovation challenges, focuses on three key areas—multigenerational financial resilience, equitable healthy aging, and lifelong fulfillment.
Winners will gain access to networking opportunities, partnerships, visibility, and funding. Manulife will award CAD 200,000 in prize money to three of the top ten winners.
Uplink head John Dutton said early-stage innovation is key to turning Asia’s demographic challenges into opportunities.