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The EU 2020 Strategy calls for citizens in our ageing society to live actively and independently for longer and to continue contributing to the society and to the economy … the Silver Economy as it has become known.

The Silver Economy can be defined as the economic opportunities arising from the public and consumer expenditure related to population ageing and the specific needs of the population who have researched the retirement age.

With a total of nine partners, SilverSMEs general objective is to improve the implementation of Regional Policies for SMEs’ competitiveness by taking better advantage of opportunities derived from the Silver Economy. The duration of the two phase project, which was launched in June 2018, is 5 years.


SilverSMEs particularly aims to address some of the EU 2020 objectives such as

  • increasing the employment rate of the population aged 20 to 64 through the development of SME’s and entrepreneurship initiatives,
  • Increasing combined Public Private Partnership (PPP) investment in R&D, in particular based on the development of e-health and e-care solutions, and
  • By tackling the issue of the needs of older adults, Silver should also reduce the risk of social exclusion, in particular for older adults living in rural areas.

The Hincks Centre for Entrepreneurship Excellence provides a focus for CIT to develop niche approaches to enterprise growth and the Silver Economy is one on which a focus is developed.  There are pressing demographic reasons, due to an aging economy, to develop more sustainable means of supporting independent living in older people. This presents a series of new opportunities for SME’s to engage in innovation directed at this sector. As one of the nine project partners, CIT’s Hincks Centre will carry out the Composite SWOT Analysis and contribute to the identification of Good Practices (GPs) as well as bringing our academic knowledge to facilitate the trilateral peer review process. 

The project is funded by Interreg Europe. The lead is the Provincial Government of Teruel, Spain with partners from:

  • Cork Institute of Technology, Ireland,
  • Hedmark County Council, Norway,
  • Region Dalarna – The Regional Development Council of Dalarna County, Sweden,
  • Inceptus Romania Association, Romania,
  • ADRAVE – Regional Development Agency of Vale do Ave, Portugal,
  • Soča Valley Development Centre, Slovenia,
  • Society for the Development of the Province of Burgos (SODEBUR) also of Spain and
  • Euromontana the European Association of Mountain Areas


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