Introduction

AdvantageNewcastle is an economic step change program for Newcastle and the North East, which is focusing on the ageing demographic. Stakeholders from the public, private and third sectors are working together to identify visionary step change projects for the region that focus on ageing. They aim to create a new generation of opportunities for local businesses and attract a new wave of international investment.

There is a growing worldwide interest in the ageing boomers as an extremely lucrative but demanding market, and Newcastle - in the same way that other cities develop clusters of expertise and know how in sectors such as medicine, aeronautics, electronics and media - wants to pioneer in the area of ageing.

The AdvantageNewcastle process is based on the 'NExT Generation' economic step-change programme, which was designed by BusinessLab and previously deployed in the North East of Scotland Economic Forum. The aim there was:

"to identify a new approach to economic development that better connects and involves the business community” and “to deliver inspirational, yet pragmatic projects that will help to ‘raise the game’ for the City Region.”

In the same way the North East of Scotland through NExT Generation sought to connect with the business community, the stakeholders in AdvantageNewcastle aim to do the same. The projects that arise from the process will help businesses reap an advantage from increasing longevity.