Our Story
8 min read

From the Founders’ Heart

From the Founders’ Heart
Written by
Nehul
Published on
12/19/2024

Story behind the name ‘GenWise’

GenWise is short for ‘Generation Wise’ and for the 3 of us, Generation Wise signifies our elders and parents who have taught us through and through. While all of us could be clubbed as GenY/GenZ etc, our elders are ‘Generation Wise’ and hence the name – GenWise.

To reiterate, GenYs, Zs of today have been groomed and shaped by the wisdom extended by our elders. Hence, we believe elders are ‘Generation Wise’ and therefore, the name ‘GenWise’.

Why ‘Parents & Loved Elders’ as primary target segment?

We wanted to build a product for user segment which is an amalgamation of our passion, sentiments and commercial opportunity and after months of research and user feedback, our early answer is that we couldn’t have landed it better.

  1. Sentiment – All 3 founders of GenWise deeply care for our parents but feel our busy lives leave us wanting to connect and care more for them. I guess that’s true for most of the readers reading this. If yes, GenWise is equally for you as it is for your parents.
  2. Passion – We wanted to build in space where there is opportunity for innovation and real impact. Neither ’delivering a grocery in 10 minutes’ nor ‘another fintech lending or payments product’ would have given us this satisfaction.
  3. Commercial opportunity – Today, 51-75 years users in India:
  4. Represent 25 Cr people and are the highest growing segment due to increasing life expectancy and reducing family coverage ratio. In-fact, India was youngest in 2021 and will get older from here
  5. Have 10X average networth as compared to those under 35
  6. Represent first generation of tech-savvy smartphone users who adopted them in their adulthood in 2005-10 and have reached 51+ bracket
  7. Are the fastest growing adopters of digital economy. 40% of new online shoppers post Covid are above 50+ years of age
  8. Are a complete whitespace with regards to tech businesses because no one builds for them. The total VC funding in India in the age-tech space is less than US$ 15 Mn

At GenWise, our eventual mission is to create the largest Online Club for Indian Elders which provides them features that make their lives easier. The basis of GenWise would be 3 Pillars – Connect, Entertainment, and Exclusive Services – all of which is especially curated and built for the comfort of our Elders.

Founders’ Guilt Trip

Let’s be honest about it. All 3 of us are on a guilt trip of not having done enough for our parents. It’s not that we haven’t tried. We have rejected multiple job offers to move abroad. Combined, we travel 130 Km everyday back and forth to office so that we stay with our parents. However, we still face numerous circumstances during the day where we just wish to be with our parents and are not available, e.g,

  1. Geetanshu’s father calls him regularly to pay his bills
  2. Nehul’s mother has a history of Anxiety and just wishes he could be with her during tough moments of the day
  3. Rajat’s mother constantly calls him to check what he has eaten etc. and most of the times, he is just not available to respond resulting in emotional distress at her Mom’s end

The list is long but we will stop here. We guess, most well to do 25-40 years old of today want to do more for their parents but just can’t due to lack of time and mental bandwidth. GenWise is an attempt to make the same easy.

Describing our initial product

When we started speaking to this age group, we ended up listing down 40 use cases with each having a potential to become a big business. In hindsight, it was natural because no one is building for them.

Since there were so many unaddressed needs for this segment, cracking an opportunity was lesser of an issue vs. adoption and digital discovery.

So, our initial product had to present a solution which is easier to reach and adopt, is intuitive, builds a trust and is highly engaging. After days of problem solving, we landed on below:

GenWise aspires to be India’s largest online club for elders. We aim to be a digital gymkhana where elders come and become digitally independent.

The Club is built on 3 foundational pillars – Connect, Entertainment, and Exclusive Services. Accordingly, we have created products to fit each need of the Elders.

Connect

GenWise Community

Meet Club Members, and make friends!

Here, our Elders get to be a part of a Community of people with common interests. They can meet people, establish friendships, and enjoy Events with other members!

GenWise Family

Stay close to your Family, 24×7!

GenWise Family allows our Elders to stay connected to other family members. With features like call with screenshare, one-click location share, and attending Events together – this is a feature which pulls everyone to one place!

Entertaiment

WhatsApp Greetings

Share your Greetings, in your style!

We will not say anything about this product. The name is enough. Checkout the personalization options though, especially, awaaz waali photo.

GenWise Videos

Hand-picked vidoes of their Generation, in today’s style!

To solve the problem of downloading different Apps for each type of entertainment, we have gotten hand-picked selection of videos of their interests on GenWise Videos – for our elders’ entertainment, infotainment, and excitement!

GenWise Events

Add joy to your daily life!

Our Elders get treated to a bunch of Events, curated for them every day! From meditation, to games like Antakshari, and learning new Apps everyday – this is a place where they can participate, relax, and win monthly prizes!

Exclusive Services

GenWise Saathi

Emotional Support and Care on call!

Our elders are lonelier than ever due to a) nuclearization of families and b) busier work lives. GenWise Saathi is our attempt to provide an advisor and listening ear to our elders. With GenWise Saathi, our elders can:

  • Talk with a friendly advisor to find a friend away from home
  • Share thoughts which can’t be shared with their friends & family members
  • Talk on any topic related to family, travel, hobbies, interests, ambitions, etc.
  • Curb Boredom and Lighten your Mood
  • Get advice from trained professionals who are eager to spend time with them

GenWise Astrologer

Know your future with Top Astrologers!

With GenWise Astrologer, our Elders are provided with India’s top Astrologers at the best price, with whom they can talk and get solutions to all their life problems!

Risk-Free Passbook

Your Phone = All Bank Passbooks!

We all have seen our elders struggle to log into their bank accounts or being afraid of doing it due to perception of a possible fraud. Hence, they still have to go and stand in queues or wait for lunch breaks to get over to get their passbooks updated. Powered through RBI Approved Account Aggregator framework, our risk free passbook converts your phone to a passbook where they can check balances and transactions against all your bank accounts.

AI Friend

Your special computer friend, to keep you entertained at all times!

AI Friend is a special computer friend provided to our elders with whom they can talk about anything, and get answers to all their questions! Whether it’s solving boredom or starting a new hobby, AI Friend is available 24×7 for them to assist and talk!

Personal Assistant

Learn latest Technology and Apps at your own pace!

With GenWise PA, our Elders get an opportunity to learn new technology and Apps at their own pace with 1:1 priivate sessions! To make the interaction easier, we allow screensharing on our app-to-app audio sessions.

Medicine Reminder

Set Medicine Reminders for yourself & family, and never miss a medicine again!

Now, you can take care of your Elders from anywhere – no matter the distance! Set Medicine Reminders, get monthly performance report, and so much more! Embrace GenWise and take a step towards a healthy lifestyle.

Summary

  • What is GenWise? – GenWise is India’s Largest Online Club for Elders
  • What does GenWise do? – We empower elders to become tech-savvy, connected and independent in their golden years. We also help younger family members stay connected with their parents.
  • Who can use GenWise? – All elders who currently feel left out of India’s digital revolution and all children who want to do more for their elders and parents

Replies to few questions we got

Q: Why are you not building in Health Care?

A: Thinking that our elders only need “healthcare” is a view of younger community with regards to elders’ needs. If you ask your parents today on what they need, very few will say they need elder care. At 50,60,70 years of age, they have a long life ahead of them and what everyone needs is a better lifestyle instead of healthcare. Have an open conversation with your parents today and let us know.

Q: Why are we not building in religious segment?

A: We have not been able to think of a product better than “YouTube”. The day we get an answer, we will build it.

Our request

If you have reached here and liked reading it, please re-share this to as many folks possible and help revolutionize the life of our elders.

Of course, get GenWise installed to your loved elders

For any feedback, please write to founders@genwise.club

Regards
Team GNR (Geetanshu, Nehul and Rajat)