Talking HealthTech: 448 – Funding for Health Tech in Dementia & Cognitive Decline

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In this episode of Talking HealthTech, we focus on dementia and cognitive decline. Peter Birch speaks with Kim Smyth – GM Investment at ANDHealth, Dr Kaele Stokes – Executive Director Services, Advocacy and Research at Dementia Australia, and Dr Amanda Vrselja – Program Head of CUREator at Brandon Capital. 

We talk about innovations in dementia care, the significance of research in the field, and the new CUREator+ program aimed at accelerating solutions for cognitive decline. 

Accelerating Innovation in Dementia Care

Technological advancements are transforming healthcare delivery, particularly in addressing complex conditions like dementia. More than just memory loss; dementia encompasses over a hundred diseases affecting cognition, behaviour, and physical function. Given Australia’s ageing population, the prevalence of dementia is on the rise, making it a critical area for healthcare innovation.

Continuous innovation and community-focused efforts are crucial to finding impactful solutions. The new CUREator+ program is a national initiative designed to expedite the development and commercialisation of technologies addressing dementia and cognitive decline.

The Role of the CUREator+ Program

The CUREator+ program, led by Brandon Capital and ANDHealth, aims to support innovations across various health modalities, including digital health, therapeutics, diagnostics, and assistive technologies. The program is open to Australian small and medium enterprises (SMEs) with promising solutions for dementia care. It is designed to assist these innovations in advancing to the next stage of their commercialisation journey.

Funding is available to established companies and those still in the ideation phase. The program emphasises a collaborative approach, ensuring the engagement of individuals living with dementia and their carers in developing and evaluating technologies. This community-driven focus ensures that innovations address the real needs and challenges faced by those affected.

Creating Impactful Solutions

The goal of innovation in dementia care is to create solutions that have a tangible and positive impact on the lives of those affected. Whether it’s through advanced diagnostics, assistive technologies, or digital health platforms, the emphasis is on improving quality of life and enhancing care delivery. Despite the many challenges faced by individuals diagnosed with dementia and their caregivers, there are also numerous opportunities to make meaningful improvements.

By focusing on real-world impact and prioritising the needs of individuals with dementia, we can develop solutions that make a meaningful difference. This patient-centred approach ensures that innovations address the most pressing challenges and deliver the greatest benefit.

Bridging Gaps with Technology

Technology offers a powerful tool for bridging gaps in dementia care. From early diagnosis to ongoing support, digital solutions can significantly enhance the quality of life for individuals living with dementia. We are at a critical juncture in building the capacity of our workforce, healthcare, and aged care systems to support people living with dementia.

Early diagnosis of dementia remains a challenge, often taking several years. Incorporating advanced diagnostic tools, including AI and digital health platforms, can streamline the identification process and enable timely interventions. These technologies facilitate early detection and support ongoing monitoring and management of dementia symptoms.

The Importance of Community Involvement

Community involvement plays a vital role in creating and executing dementia care solutions. By involving individuals living with dementia, their carers, and the wider community, innovations become rooted in real-life experiences and effectively meet the needs of those impacted. A genuine co-design approach, developed in collaboration with people living with dementia and their families, leads to a richer and more effective outcome.

This community-driven approach empowers individuals and improves the relevance and effectiveness of the solutions developed. We can create more meaningful and impactful interventions by prioritising the voices of those directly affected.

Supporting Carers and Enhancing Community Engagement

Carers are essential in supporting individuals with dementia and need access to resources, education, and support networks for optimal care. Innovative technologies can give carers the tools to manage their responsibilities effectively. Access to support, such as counselling, group programs, or peer support, can significantly enhance their ability to provide care.

Social isolation is a significant issue for those with dementia. Technology can help mitigate this by enabling meaningful social engagement and communication, even for those with severe cognitive impairments. Virtual reality, telehealth, and assistive devices can be tailored to meet individuals’ needs, ensuring they remain connected with their community and caregivers.

Addressing the Economic and Social Impact

Dementia significantly affects both the economy and society. Its rising prevalence highlights the necessity for comprehensive care strategies and innovative interventions. This condition greatly impacts a specific area that requires substantial help and support.

The economic burden of dementia extends to healthcare systems, families, and communities. By investing in innovative technologies and comprehensive care models, we can improve efficiencies, reduce costs, and enhance patient outcomes. The CUREator+ program represents a significant step in addressing these challenges, fostering an environment where innovative solutions can thrive.

Empowering Innovators

Empowering innovators is key to driving progress in dementia care. Programs like CUREator+ support entrepreneurs, researchers, and healthcare professionals working on innovative solutions. By providing funding, mentorship, and access to expertise, these initiatives ensure that promising ideas have the resources they need to succeed. 

Great ideas are emerging from across Australia and various walks of life, including entrepreneurs with technology or clinical backgrounds, researchers, people living with dementia, and human and social innovation or community programs. This inclusive approach encourages diverse perspectives and fosters a rich ecosystem of innovation.

Building a Future of Better Dementia Care

The potential for technology to revolutionise dementia care is immense. By leveraging digital tools and innovative solutions, the quality of life for individuals with dementia and their carers can be significantly enhanced. Major trends such as care moving closer to the home, greater community engagement, and the use of AI or VR hold transformative potential. Furthermore, interdisciplinary collaboration, as promoted by the CUREator+ program, brings diverse perspectives together to address the multifaceted challenges of dementia care. 

An Interdisciplinary Approach to Innovation

Tackling the challenges of dementia care necessitates an interdisciplinary approach that combines healthcare, technology, and community engagement. The partnership between Brandon Capital, ANDHealth, and Dementia Australia is a demonstration of the potential impact of a multidisciplinary strategy. This holistic perspective allows for a comprehensive understanding of the diverse needs and challenges associated with dementia care. We can develop more robust and effective solutions by bringing experts from various fields together.

A Collaborative Vision for the Future

The future of dementia care lies in collaboration and innovation. By bringing together diverse perspectives and expertise, we can develop comprehensive solutions that address the complex needs of individuals with dementia and their carers. The CUREator+ program represents a significant step in this direction, fostering a collaborative environment where innovation can thrive.

The aim is to disseminate information as widely as possible, recognising that some of the most effective ideas originate from individuals deeply involved in the community and closely familiar with the issues. This inclusive strategy encourages the involvement of diverse stakeholders, ensuring that the solutions created are relevant and impactful.

Ultimately, integrating technology and innovation in healthcare is not just about creating new solutions; it’s about transforming lives and enhancing the quality of care for those affected by dementia. 

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