Taiwan has become the fastest aging country in the world, with the elders making up 10 percent of the total population. Now to get a piece of this growing pie, Nan Kai University of Technology and a private company are joining forces to develop devices that can cater to their needs.

For many elderly who live by themselves, without others' reminder, they may not be able to remember to take their medication on time, causing more damage to their health.

So by having an automatic medicine dispenser becomes something of a necessity.

It will dispense the right amount of medicine at the right time, making sure that the elders are getting the right amount of right medicine at the right time.

It can also remind their children to remind the elders to take their medicine by sending them sms test messages.

Then its the walker that can help elders walk up and down the stairs easily, thanks to the automatic balancing system.

The medicine dispenser has a microchip to keep everything organized whereas the walker consists of a motor and a gradienter to keep everything balanced.

With just a few tweaks of existing equipment, elders are able to benefit much from it.

According to the Ministry of Interior in a survey from 2009, there are about 2.4 million senior citizens in Taiwan, making up 10% of the total population and more than 48,000 elders living by themselves, taking up 2% of the total in the senior citizen population.

Therefore, in this growing market, the entertainment, health care, and social services of these elders become a pressing need in the nation, taking up about 500 to 600 billion NT dollars.

With these new inventions, the academia and private corporation can work together and benefit the elders as well as fattening their own pockets.