The global assistive technology market, valued at over $22 billion in 2023, is expected to witness significant growth by 2030. However, startups focused on developing technology for individuals with disabilities often face challenges in securing early funding. To address this gap, Adaptation Ventures, an emerging angel investment group, aims to provide financial support to early-stage companies creating accessibility-focused technology. This initiative targets not only those dedicated exclusively to assisting people with disabilities but also firms whose products appeal to a broader audience while benefiting these communities.
Adaptation Ventures was co-founded by Brittany and Rich Palmer, both former startup founders and individuals with disabilities. Brittany shared her own struggles in obtaining funding for her venture, Beeyonder, which provided virtual travel experiences for people with disabilities. She noted a widespread lack of understanding among venture capitalists regarding the disability market’s size and opportunities.
Rich, who has experience as both a managing director and angel investor at Launchpad Venture Group, echoed these sentiments, stating that they saw the potential in remarkable founders but needed to find ways to channel capital to them effectively. Initially, the Palmers aimed to establish a traditional venture fund; however, they shifted towards creating an angel group after discovering that high-net-worth individuals preferred to engage directly with startups rather than just serving as limited partners in a fund.
The couple believes that the absence of dedicated angel groups in the assistive technology sector is a significant oversight. Each investment from Adaptation Ventures will start at a minimum of $250,000, with opportunities for co-investing. The group will facilitate quarterly meetings where investors will evaluate and vote on startup pitches to decide which should progress to due diligence.
Adaptation Ventures’ investment strategy focuses on making substantial improvements in accessibility and affordability. Potential investment targets include companies like ReBokeh, which creates assistive tech for individuals with low vision and Tonal, a workout platform that makes exercise more accessible for people with disabilities who struggle to lift weights.
With their extensive experience in startups and investing, both Rich and Brittany feel well-prepared for their new mission. Rich, who has faced health challenges leading to temporary and permanent disabilities, along with Brittany, a bilateral amputee, connect deeply with the founders in the assistive technology space. Their passion drives them to dismantle the barriers to funding that many innovative startups encounter, as they advocate for empowering the disability community through technology.
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