Startup Studio Alive Ventures raised $12 million to fund entrepreneurs designing products for a graying population and it's enlisting the help of people like famed Apple designer Don Norman to rethink the golden years.

Seniors have often been an afterthought for designers, who often focus their products on youth. But the growing spending power of Baby Boomers, along with their more active lifestyles and longer lives have altered how entrepreneurs are viewing those in their retirement years.

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