The Minister of Social Justice and Empowerment, launched the SAGE (Seniorcare Aging Growth Engine) initiative and SAGE portal to support India’s elderly persons.
- 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 selected under SAGE will be those which will provide new innovative products and services to elderly persons in various areas like health, travel, finance, legal, housing, food among others.
- The SAGE portal has been prepared and finalized 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 upto Rs.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.