Page 9 - OHKF_Gerontech_report_en

2. Increasing demand-side’s financial One significant issue is that 100% privately funded elderly and
rehabilitation service units do not have access to the $1 billion
accessibility to gerontech products
I&T Fund. As more than half of the residential care homes for
and services the elderly are 100% privately funded, many elderly living in
residential institutions do not benefit from the $1 billion I&T Fund.
Within the gerontech ecosystem, the “demand-side” refers to We therefore recommend the Government to renew the Executive Summary
ends-users, including the elderly, PwD, and caregivers in either $1 billion I&T Fund after its completion in the 2023/24 fiscal
institutional or home settings. In recent years, we have seen a year and extend the renewed funding scheme to cover all
growth in the demand-side, with more end-users accessing and care homes. Specific measures should be in place to ensure
using gerontech as an organic response to the increase in supply. that the service quality of 100% privately funded organisations is
comparable to that of subsidised elderly care homes.
Due to increasing levels of tech penetration and higher educational
attainment among the young old (aged 45–64), we anticipate Another key issue is that the $1 billion I&T Fund’s trial use
significant market potential for gerontech. However, at present, scheme has received little reception. For instance, applicant’s
many existing demand-side users and organisations do not have lack of technical know-how has deterred them from making
enough purchasing power to acquire gerontech on their own. rightful applications. To improve this, we recommend that the
The Government must therefore play a key role in generating Social Welfare Department empower applicants by providing
momentum to sustain the gerontech market’s growth in the coming more information for the trial use scheme, such as a detailed
years. In particular, they must consider how to support both handbook to help applicants identify and select appropriate
end-users living in institutional and community settings. gerontech products for trial.

2.1 Elderly living in care homes 2.2 Elderly living in the community

One of the most important financial drivers to Hong Kong’s One of the largest challenges currently facing Hong Kong’s
gerontech ecosystem is the Government’s $1 billion I&T gerontech ecosystem is helping end-users in the community to
Fund, which subsidises Government-subvented elderly and access and use gerontech. Currently, the Government’s primary
rehabilitation service units to purchase and rent gerontech gerontech-related spending—the aforementioned $1 billion I&T
products. The $1 billion I&T Fund encompasses two schemes: i) Fund—mainly benefits institutions. However, less than 8.1% of
procurement/rental of innovative technology products; and ii) trial Hong Kong’s elderly live in residential settings, whereas most elderly
use of newly developed products. (91.9%) live in domestic households within the community (C&SD,
2018). As such, the majority of end-users who live in the community
lack the Government’s support to procure gerontech.

7