EGNT builds and backs AI-native products.
Current focus: an MVP for Europe's ageing population. The investment thesis follows.
40m in Italy, France & Spain: ~50% of the euro-area total. By 2035, Italians +65 will be 30% of total population.
36m (45% of total) are active. Travel, attend cultural events, read and socialise regularly. Half take at least one leisure trip a year.
Governments pay the bill. Age-related public spending is 27% of GDP in Italy, 30% in France; peaks in 2045 as 1960s cohorts turn 80.
Source: Eurostat demo_pjangroup 2025 & EUROPOP2023 (euro area, EA-21); Eurostat isoc_ci_ifp_iu, isoc_sk_dskl_i21 (2025, 65–74, euro area); EU-SILC; ECB HFCS; EC Ageing Report 2024. Connected = last 3 months; digital skills = at least basic. 2036 connected and skills = today's 55–64 cohort (calc).
Decline starts early. Europeans live to 85 but stay healthy only to 74. The 11 dependent years carry the €1.3tn health and care bill.
Onset can be delayed. 45% of dementia cases trace to modifiable factors. A 2-year delay saves ≈€55bn a year by 2050.
Families absorb the gap. 58% of the dementia bill, over €100bn a year, falls on households as unpaid care by children aged 45-65.
Source: EC Ageing Report 2024; Alzheimer Europe / OHE; Lancet Commission 2024; Kuiper 2015; Alzheimer's Association 2025; Eurostat EU-SILC. "Europe" = euro area (EA-21): EU-27 rates applied to EA-21 population and GDP (calc).
Fill the skill gap. In Italy, 73% of 65–74s are connected and 27% are skilled. France and Spain show gaps of 42 and 51 points. AI closes it with zero-skills UX.
Convergence is fast: voice, vision and agents were lab demos in 2023. Frontier accuracy on Humanity's Last Exam went 9% → 50% in 15 months.
Free time is opportunity. 65+ watch TV ~2.8 hours a day, 40% of their free time. AI brings active contents, stimulation, memory and family contact.
Source: Eurostat isoc_ci_ifp_iu, isoc_sk_dskl_i21 (2025, 65–74); Stanford AI Index 2025/2026 (Humanity's Last Exam, Jan 2025 – Apr 2026); Barlovento 2025; ISTAT 2024.
Model quality keeps improving. Suppliers compete, and every upgrade is available on day one.
Unit economics work. Generating 1m words costs <€1 on fast-tier models, trending down.
Access is open. Frontier models are available by API to any team; open models run on-device.
Source: company guidance (Futurum compilation, 2026E $660–690bn); Stanford AI Index 2025 (inference cost, GPT-3.5-level output, Nov 2022 – Oct 2024); Epoch AI. 2024 figure from company reports, approximate.
Context is the key moat. Switching cost grows with every interaction as data compounds. A competitor cannot match the experience on day one.
Compliance lives in the router. Consent, EU data residency and logging are enforced once, for every model behind it. New rules land in one place.
No supplier lock-in. Models are interchangeable and a swap takes days. A supplier outage triggers automatic fallback. The user sees only the improvement.
Source: public API price lists (Sep 2026), cost index indicative; GDPR; EU AI Act (Reg. 2024/1689).
Concept defined. CEO identified. Team taking shape.
Now focus on target, retention and MVP for validation.
Happy to compare notes with founders and builders in consumer AI, operators who already serve the over-65s, and investors who follow the space. Write to me
Spent 30+ years building digital-first products — FinecoBank, ePRICE, Nexi YAP — and scaling them into businesses that served millions of customers and reached hundreds of millions in annual revenues. More on LinkedIn
Each of them brought a bank, a store or a payment card to customers who had never used one online. The over-65s are the same opportunity.
Now working alongside founders building AI-native products, combining their vision, skills and speed with my experience, hands-on work and capital. Write to me
EGNT is my trademark, not yet a company.
