#None #Hong Kong #Manulife #UpLink #AgingAsia

Manulife and UpLink: Innovating for Asia's Demographic Future

In a significant endeavor to address the unique challenges posed by an aging population in Asia, Manulife, a prominent international financial services provider, has partnered with UpLink, the World Economic Forum's early-stage innovation initiative, to launch the 'Innovating for Asia's Demographic Future Challenge.' This initiative was officially announced on March 26, 2025, in Hong Kong, marking the second installment in a series aimed at fostering long-term solutions for the continent's demographic shifts.

A Call for Innovators
This challenge invites start-ups, innovators, and change-makers that aim to enhance financial resilience, well-being, and overall fulfillment across various stages of life in Asia. According to Sarah Chapman, Manulife's Global Chief Sustainability Officer, the challenge seeks to rethink conventional approaches related to investments, insurance, healthcare, and workforce participation. The pressing need for innovation is underscored by predictions that by 2050, one in four people in Asia will be over the age of 60, driven by longer life expectancies and declining fertility rates.

Shifting Paradigms
As Asia undergoes this demographic transformation, the traditional linear path of 'school, work, retirement' is becoming increasingly obsolete. Instead, the emphasis is shifting towards more dynamic life transitions, encompassing periods of learning, working, caregiving, and recreation. Recent insights from Manulife's Asia Care Survey reveal that physical wellness is central to financial and mental health, indicating a growing anxiety about rising healthcare costs and insufficient savings among the population.

Focus Areas of the Challenge
The 'Innovating for Asia's Demographic Future Challenge' concentrates on three critical areas:
1. Multigenerational financial resilience: Solutions encouraging better financial planning throughout extended lifespans.
2. Equitable healthy aging: Approaches to broaden access to preventative and holistic healthcare, ensuring individuals maintain their health as they age.
3. Lifelong fulfillment: Initiatives aimed at maximizing personal and professional potential through skill-building and community engagement.

Winners of the challenge will receive exclusive networking opportunities and increased visibility, along with a total prize fund of $200,000 CAD, which will be distributed among three of the top ten innovators.

The Role of Early-Stage Innovation
According to John Dutton, Head of UpLink at the World Economic Forum, early-stage innovation is crucial for transforming Asia's demographic challenges into opportunities. By supporting purpose-driven start-ups that focus on multigenerational financial resilience, healthy aging, and lifelong fulfillment, UpLink and Manulife aim to stimulate meaningful advancements within the region.

This initiative is part of a broader multiyear partnership between Manulife and UpLink, following last year's launch of the first innovation challenge focused on longevity. As the partnership continues, new thematic areas for the final challenge are scheduled to be identified in 2026.

Exploring the Journey Ahead
Details regarding project eligibility and further information about the 'Innovating for Asia's Demographic Future Challenge' can be accessed on their dedicated challenge page, with applications closing on April 28, 2025. This initiative aligns with Manulife's Impact Agenda, which outlines key social and environmental principles aimed at driving change in interconnected sectors.

For further insights into Manulife's initiatives, visit manulife.com/impact to explore how they are dedicated to enhancing their customers' lives and making informed choices easier. Manulife operates under different names globally, including John Hancock in the United States, demonstrating its wide-reaching impact across continents.

Conclusion
As the dynamics of aging reshape societal norms in Asia, the launch of such innovation challenges is not only commendable but essential. The collective efforts of Manulife and UpLink are paving the way for a future where individuals can experience richer, healthier, and more fulfilling lives, irrespective of their age.