The Institute for the Ages is no more. Once an ambitious plan to turn Sarasota into a community-wide laboratory for products designed for aging consumers, the Institute’s board of directors on Tuesday voted to disband the organization, and former executive Tom Esselman has already moved back to Kansas City. “I’m extremely grateful for everything the community provided for the opportunity for the institute to get started and find success,” Esselman said. “I am disappointed that it’s not moving forward, but things happen and you move on.”

The concept for the Institute spawned in the late 2000s out of workshops led by Sarasota County Openly Plans for Excellence, and in 2009 worked with RTI to flesh out the idea. Along the way, Sarasota County approved an ncentives package for the Institute worth more than $1 million, and philanthropic groups including The Patterson Foundation provided substantial seed money as well. Esselman, a former Hallmark executive, was tapped as the first executive director, and a national advisory board included representatives from Bucknell University, the University of Maryland, Wayne State University and Civic Ventures, while the board of directors included a mix of high-profile local leaders and representatives of national firms like Intel. 

During its operation, the Institute helped facilitate the location of Boomerswork.us (now rewired.solutions), and developed a promising partnership with InnovateLTC in Atlanta and Georgia Tech’s HomeLab Initiative. But last year, problems started to show when the Institute announced it could not continue supporting full-time staff and would explore “new operating models.” Esselman said the organization ultimately faced the same obstacles as many startups, and that while the organization was focused on staying ahead of the research and ideas curve, it proved difficult to raise the appropriate level of funds.