The regions racing to become the “Silicon Valley” of an aging world
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In 2018, when Inc. Magazine named Boston one of the country’s top places to start a business, it highlighted one significant reason: Boston is an innovation hub for products and services catering toward the aging population. The “longevity economy” represents a massive chunk of economic opportunity: As of 2020, the over-50 market contributed $45 trillion to global GDP, or 34 percent of the total, according to AARP and Economist Impact.
What makes Boston such a good place to do business in aging? One important factor, according to the Inc. story, was MIT — specifically, MIT’s AgeLab, a research organization devoted to creating a high quality of life for the world’s growing aging population.
Inspired by that claim, AgeLab Director Joseph Coughlin, AgeLab science writer and researcher Luke Yoquinto, and The Boston Globe organized a yearlong series of articles to explore what makes Boston such a fertile ground for businesses in the longevity economy — and what might make its soil even richer. The series, titled “The Longevity Hub,” had a big goal in mind: describing what would be necessary to transform Boston into the “Silicon Valley of aging.”
