Swavalamban Divyangjan Assistive Technology Market Access Fund

Sector Overview

The WHO has estimated that over 1 billion people live with disability across the globe. With a global ageing population and rise in non-communicable diseases, it has been estimated that more than 2 billion people will need at least 1 assistive product by 2030, with many older people needing 2 or more devices.

OVER 1 BILLION

people globally
experience disability

1/2

of people cannot afford
healthcare treatment

50%

more likely to suffer from
catastrophic health expenditure

2 BILLION

people globally, will need at-least 1 assistive product, by 2030

Assistive products maintain or improve an individual’s functioning and independence, thereby promoting their well-being!

466 million

people globally, experience hearing loss. This represents 6% of the world’s population. Production of hearing aids only meets:10% of global need

200 million

people globally with low vision who do not have access to assistive products for low-vision globally.

75 million

people globally, who need a wheelchair and only 5% to 15% of those in need who have access to one.

200 million

people globally have a developmental disability. This represents 2.6% of the world’s population.

There are approximately 40 to 80 million PwDs in India. with low literacy levels, high unemployment, poor health management

104 million senior citizens in India. 64 per thousand in rural | 55 per thousand in urban
areas suffer from one or more disabilities.

Ecosystem Challenges

Today, India accounts for about 40 to 80 million persons-with-disabilities (PwDs)—i.e. one in twelve households has a family member with a disability. However, due to low literacy levels, social stigma, and lack of opportunities, people with disabilities remain the most excluded members of Indian society.

Intervention of the right assistive technology can integrate PwDs into the society and make the environment more inclusive.

  • Lack of R&D infrastructure
  • Fragmented Market with a broken supply chain
  • Lack of access to risk capital
  • Limited manufacturing hubs
  • Low affordability amongst the customer base

WHY IS AFFORDABILITY SUCH A HUGE PROBLEM?

A large number of children with disabilities stay out of school and an exorbitant number of people with disability remain unemployed as the society does not have an inclusive environment to accommodate PwD’s. Moreover, the out of pocket expenses incurred by the families of PwDs is high and grows exponentially over time even to meet their basic needs. Estimates show that 50% of such individuals are more likely to suffer from catastrophic health expenditure and 1 in 2 of them cannot afford healthcare treatment.

50%

More likely to suffer from catastrophic health expenditure

1/2

Of People with Disability cannot afford healthcare treatment.

REQUIRED INTERVENTION

An immediate solution is to develop a financial instrument that makes existing high-quality technologies/solutions more affordable and accessible to the end user; further allowing easier market entry for technologies. This will allow technologies in:

  • Development of sustainable financing models.
  • Economies of scale by improving the market demand.
  • Risk capital inflow in the Assistive Technology space.

Swavalamban Divyangjan ATMA Fund

Social Alpha is introducing, the Swavalamban Divyangjan ATMA Fund. The Fund will finance up to 50% of selling price for the initial users, improving the access, and reducing the out-of-pocket expenditure for procuring new technologies. This will lead to improved affordability and access of assistive technologies to the unserved and the underserved population.

Selling Price = Customer (50%) + ATMA Fund Support (upto 50%)

The Fund will ease the entry of the assistive technology solution into the market, reduce the expenditure for the end-users and eventually help the startup scale its selling price in the market.

Theory of Change

How to apply and selection process

The start-ups will be able to apply throughout the year, in a rolling application format.
Applying start-up will go through the selection process in a quarter.

To apply please write to us at as assistivetech@dev.socialalpha.org with your product deck and information on any pilots you may have conducted.

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