Manulife and UpLink, a World Economic Forum Initiative, Launch the 'Innovating for Asia's Demographic Future Challenge'

Rhea-AI Summary

Manulife (MFC) has launched the 'Innovating for Asia's Demographic Future Challenge' in partnership with UpLink, a World Economic Forum initiative. This marks the second of three challenges in their multiyear partnership focused on longevity innovation.

The challenge seeks startups developing solutions in three key areas:

• Multigenerational financial resilience
• Equitable healthy aging
• Lifelong fulfillment

The initiative addresses Asia's demographic shift, where by 2050, one in four people will be over 60. Winners will receive part of a CAD 200,000 prize pool split among three of the top ten winners, along with networking opportunities and partnership access. The application deadline is April 28, 2025.

Positive

• Strategic investment in innovation addressing Asia's growing aging market
• Partnership with World Economic Forum enhances company's market position
• Initiative aligns with company's Impact Agenda and long-term growth strategy

Negative

• None.

This challenge is the second of three in a multiyear partnership to help shape the future of longevity innovation

HONG KONG, March 26, 2025 /PRNewswire/ - Manulife launched the 'Innovating for Asia's Demographic Future Challenge' through UpLink, the World Economic Forum's early-stage innovation initiative to tackle the world's biggest challenges. Together, Manulife, UpLink and the Forum's Centre for Financial and Monetary Systems, invite start-ups, innovators, and changemakers with solutions for enabling long-term financial resilience, well-being, and fulfillment across multi-stage lives in Asia to participate.

"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 people in Asia will be over the age of 60ⁱ. This profound demographic shift is driven by longer life expectancies and declining fertility rates.  As countries in Asia adapt to these changes, people may no longer follow the traditional 'school, work, retirement' paradigmⁱⁱ. Instead, they transition more frequently between learning, working, caring, and recreationⁱⁱⁱ. In addition, recent data from Manulife's Asia Care Survey showed physical well-being is central to both financial and mental well-being for people across Asia, and that rising health-care costs are a major concern, fueling anxiety about insufficient savings.

To promote long-term financial resilience, well-being, and fulfillment across populations in Asia, the challenge seeks startups who are working to drive progress in three focus areas:

• Multigenerational financial resilience: Solutions that promote better financial planning over the course of longer lives.
• Equitable healthy aging: Solutions that expand access to preventative and holistic health care, helping people maintain their physical and mental well-being as they age.
• Lifelong fulfillment: Solutions that maximize personal and professional potential for people at all stages of life through skill building and community engagement.

Challenge winners will benefit from access to exclusive networking events and partnerships as well as increased visibility and funding opportunities. Manulife will give $200,000 CAD in prize money split 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."

As part of a multiyear partnership between Manulife and UpLink announced last year, this is the second of three innovation challenges designed to help shape the future of, and investment in, longevity innovation. The ten winners of Manulife's 2024 'Prospering in Longevity Challenge' were announced in October. New thematic focus areas will be picked for the third challenge in 2026.

Full project details for the 'Innovating for Asia's Demographic Future Challenge', including eligibility criteria, can be found on the challenge page here. The deadline to apply is April 28, 2025.

This challenge is aligned to Manulife's Impact Agenda, which focuses on three interconnected pillars grounded in the principles of longevity that outline the social and environmental areas where we have the greatest ability to affect change. To learn more about Manulife's Impact Agenda, visit manulife.com/impact.

About Manulife

Manulife Financial Corporation is a leading international financial services provider, helping our customers make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we operate as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States, providing financial advice and insurance for individuals, groups and businesses. Through Manulife Wealth & Asset Management, we offer global investment, financial advice, and retirement plan services to individuals, institutions, and retirement plan members worldwide. At the end of 2024, we had more than 37,000 employees, over 109,000 agents, and thousands of distribution partners, serving over 36 million customers. We trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges, and under '945' in Hong Kong.

Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.

About UpLink 

UpLink is a World Economic Forum Initiative designed to unlock the power of entrepreneurship to tackle the world's most urgent challenges. UpLink builds ecosystems that enable purpose-driven, early-stage entrepreneurs to scale their businesses for the markets and economies that are essential to a net-zero, nature-positive and equitable future. For further information, click here.

Media Contact:
Gina Simonis
Gsimonis@manulife.com
617-840-4794

________________

i ADP: Adapting to Aging Asia and the Pacific

ii Stanford Center on Longevity

iii The New Long Life: A Framework for Flourishing in a Changing World

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SOURCE Manulife Financial Corporation

FAQ

What is the prize money for Manulife's (MFC) Asia Demographic Future Challenge 2025?

Manulife will distribute CAD 200,000 in prize money among three of the top ten winners of the challenge.

When is the deadline for Manulife's (MFC) Asia Innovation Challenge 2025?

The deadline to apply for the 'Innovating for Asia's Demographic Future Challenge' is April 28, 2025.

What are the three focus areas of Manulife's (MFC) 2025 UpLink Challenge?

The challenge focuses on multigenerational financial resilience, equitable healthy aging, and lifelong fulfillment solutions.

How many innovation challenges will Manulife (MFC) launch with UpLink in total?

Manulife will launch three innovation challenges in total, with this being the second and the third planned for 2026.

What demographic trend is Manulife (MFC) addressing with this innovation challenge?

The challenge addresses Asia's aging population, where one in four people will be over 60 by 2050.