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The inventor said the plan was to create "practical everyday technologies that will make our lives easier".
Plans call for the project, Everyday Technologies for Alzheimer's Care, initially to finance more than $1 million in research to develop systems for Alzheimer's care in the home.
One major roadblock for wider adoption of in-home monitoring has been concern that older people, unused to everyday technologies like the Internet, would resist their use.
His latest project, Means of Exchange, looks at how everyday technologies can be used to democratise opportunities for economic self-sufficiency, rebuild local community and promote a return to local resource use.
As executives prove, everyday technologies can make all the difference.
Everyday technologies such as utensils are mostly open to scrutiny by the reflexive user.
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And serious attack planning, conducted online, too often protected by everyday technology from the watchful eyes of the intelligence agencies.
Carers, the guidance states, should help children become familiar with "everyday technology" and use it to support their learning.
The story is set in a London slightly in the future, where mankind is gradually losing its ability to use everyday technology.
As Andrew Lo of the Massachusetts Institute of Technology points out, to primitive people, everyday technology like cars and televisions can seem like magic.
Wi-Fi is the classic example: fantastic everyday technology that came about through CSIRO's research in radio astronomy, which was unrelated to its ultimate application.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com