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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 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 older population.

The Silver SMEs project, funded by Interreg Europe, has nine partners from Ireland (CIT), Spain (lead partner), France, Sweden, Portugal, Slovenia and Poland. The duration of the two-phase project, launched in June 2018, is 5 years

Silver SMEs Objective

SILVER SMEs wishes to improve the implementation of Regional Policies for SMEs competitiveness by taking better advantage of opportunities derived from the Silver Economy.

Importantly, by supporting the development of new SMEs in the Silver Economy, an intrinsic objective is to generate services and goods that will contribute to improve the quality of life within an ageing society, in particular in rural or remote EU areas.

Silver SMEs 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.

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.

partner locations

The Provincial Government of Teruel, Spain is the lead partner of the project with partners from

  • Cork Institute of Technology, Ireland
  • Region Dalarna – The Regional Development Council of Dalarna County, Sweden,
  • Regional Development Agency - JCS, Poland
  • Intermunicipal Community CIM Ave, Portugal,
  • Soča Valley Development Centre, Slovenia,
  • Society for the Development of the Province of Burgos (SODEBUR), Spain
  • Eurosanté, France and
  • Euromontana the European Association of Mountain Areas, France


© 2018 | Cork Institute of Technology