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As such, we recommend that the Government build a 4. Leveraging public-private
“Gerontech Corner” in District Health Centres. We envision
partnership financing models
this Gerontech Corner to perform three key functions. First, it can
host gerontech-related public education and awareness-raising for innovative gerontech
activities. Second, end-users should be able to directly purchase or
service delivery
rent products on display through the voucher scheme extensions. Executive Summary
Third, the Gerontech Corner should also operate as a “product
testing hub” enabling user feedback from visitors to be collected. Accompanying the expansion of Hong Kong’s gerontech
ecosystem in recent years is a growth in the number of financiers
3.2 Home Modification Scheme interested in investing into gerontech. However, despite both public
and private financiers’ interests in funding gerontech projects, there
It is necessary to provide elderly and PwD with a safe and
are few gerontech public-private partnerships.
accessible home environment to facilitate their independent living
and avoid institutionalisation. Currently, there are some initiatives
Pay-for-Success (PFS) is an innovative financing model for
that help end-users living in public housing to receive basic home
social services. In short, private investors fund a social project
modification, such as widening doorways, laying non-slip floor
under the agreement that—only if the service provider meets
tiles, and installing handrails. Unfortunately, similar schemes do
pre-determined outcome-based Key Performance Indicators
not exist for end-users living in private housing. We therefore
(KPIs) measured through social impact assessments—will the
recommend the Buildings Department to create a similar
Government then repay the private investor with interest. PFS
Home Modification Scheme for elderly and PwD living in
is particularly suitable for testing innovative and preventive
private housing. Eligible households should be entitled to a
services, which greatly suits the nature of gerontech products
one-time grant of maximum HKD $10,000 for costs incurred.
and services. We therefore recommend using PFS as
an innovative way to bring together public and private
financiers within the gerontech industry.

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