Manulife has introduced the ‘Innovating for Asia’s Demographic Future Challenge’ in collaboration with UpLink, the World Economic Forum’s early-stage innovation initiative. This challenge, in partnership with UpLink and the Forum’s Centre for Financial and Monetary Systems, invites startups, innovators, and changemakers to develop solutions that enhance long-term financial resilience, well-being, and fulfillment across Asia’s evolving multi-stage lives.
“To help people live better for longer, we must fundamentally rethink traditional approaches to investments, insurance, health care, and workforce participation,” said Sarah Chapman, Global Chief Sustainability Officer for Manulife. “This challenge is an opportunity to drive investment in innovations that are truly going to move the needle to address demographic trends shaping the future of Asia in an effort to improve health, wealth, and quality of living outcomes for generations to come.”
By 2050, one in four individuals in Asia will be over the age of 60, driven by increasing life expectancy and declining fertility rates. As a result, the conventional ‘school, work, retirement’ model is evolving. People are now navigating more fluid transitions between education, employment, caregiving, and leisure. Findings from Manulife’s Asia Care Survey indicate that physical health is crucial to financial and mental well-being, while rising healthcare costs contribute to growing concerns about financial security.
The challenge aims to identify and support startups focusing on three key areas:
- Multigenerational Financial Resilience: Innovative solutions that enhance financial planning and security throughout extended lifespans.
- Equitable Healthy Aging: Technologies and initiatives that improve access to preventative and holistic healthcare, ensuring individuals maintain physical and mental well-being.
- Lifelong Fulfillment: Programs that empower individuals at all life stages through skills development and community engagement.
Successful participants will gain access to exclusive networking events, strategic partnerships, and funding opportunities. Manulife has committed $200,000 CAD in prize money, which will be distributed among three of the top ten winners.
“Early-stage innovation is key to transforming the challenges of Asia’s profound demographic shifts into opportunities for people across the region,” said John Dutton, Head of UpLink, World Economic Forum. “UpLink, in collaboration with the Forum’s Centre for Financial and Monetary Systems, is proud to advance its longevity-focused work with Manulife through the launch of the ‘Innovating for Asia’s Demographic Future Challenge,’ and – via its unique engagement programme – empower purpose-driven start-ups promoting multigenerational financial resilience, equitable healthy aging, and lifelong fulfilment to scale their ventures.”
This initiative is part of a multi-year partnership between Manulife and UpLink, announced in 2023. It marks the second of three planned challenges aimed at driving longevity-focused innovation. In October 2024, Manulife revealed the ten winners of its inaugural ‘Prospering in Longevity Challenge.’ A third challenge, featuring new thematic focus areas, is scheduled for 2026.
Comprehensive details regarding the ‘Innovating for Asia’s Demographic Future Challenge,’ including eligibility requirements, are available on the challenge page. The deadline for applications is April 28, 2025.
The challenge aligns with Manulife’s Impact Agenda, which prioritizes three interconnected longevity-driven pillars. These pillars focus on addressing critical social and environmental issues where Manulife can drive meaningful change. For further details about Manulife’s Impact Agenda, visit manulife.com/impact.
