SDG5 Startup of the week: FemTech Insider
Femtech Insider is the #1 source for all things femtech worldwide
Enhancing the use of enabling technology, in particular information and communications technology, to promote the empowerment of women is one of the indicators for #SDG5.
This is why FemTech Insider is our startup of the week. Enjoy the article:
Healthcare is uniquely shaped by women. They represent 65% of the workforce and make 80% of healthcare buying decisions, yet they only make up 30% of the industry’s C-suite. Even today gender gaps in medical research limit how much we know about women’s health. According to a recent study, diagnosis for a wide range of diseases comes later in life for women than for men.
It is safe to say that women’s health has long been ignored and its market potential underestimated. Has been. An increasing number of innovators in tech, healthcare and beyond are stepping up, founding companies and movements and are addressing what negatively affects the health of women all over the world every day. And as the numbers show, things are slowly starting to change. The femtech market is on the rise with expected market size of 50 billion USD by 2025 and a very real opportunity to improve the lives of half the world’s population through innovation.
"We support SDG5 “Gender Equality” by addressing inequality in healthcare. We want to empower women to take charge of their health and support those creating innovative solutions for the biggest health challenges faced by women of all genders today." said the founder Kathrin Folkendt.
So what is femtech anyways?
In general femtech refers to software, diagnostics, products, and services, that use technology to support women’s health. The term itself was originally coined by Ida Tin, the founder of Clue, a period tracking app, who introduced it during her discussions with (mostly male) investors and almost accidentally created the new terminology and category.
The femtech sector is primarily concerned with addressing the whole lived experience of women. Innovations in this category usually fall into one of the following categories:
Menstruation & Period Care Products
Fertility & Birth Control
Chronic Conditions & Hormonal Disorders
Pregnancy & Post Pregnancy
Sexual WellnessThe femtech industry currently attracts only 1.4% of the aggregated capital that flows into healthcare. The work of femtech founders and women’s health advocates, who are breaking down women’s health taboos, however, is slowly starting to show an effect. Investments in femtech are expected to cross the 1 billion dollar line for the first time in 2020, as the demand for innovative women’s health solutions increases due to rising awareness and education. For a long time period tracking apps were femtech’s “flagship products”. As the sector is evolving fertility treatments, menopausal treatments, pelvic health, cancer diagnosis, telehealth, AI powered diagnostics and products helping women with chronic and hormonal diseases are starting to pick up steam and investments.
Why Femtech Insider?
Femtech Insider exists to share the stories of women’s health innovators, practitioners, advocates and investors and to equip them with the knowledge and connections they need to succeed. Femtech Insider is the #1 source for all things femtech worldwide and is known for its industry-leading newsletter. The detailed brief has information on deals, company and product launches, femtech and healthtech industry news, interviews and shares new jobs, research and resources on a weekly basis.
About the author
Kathrin Folkendt, the founder of Femtech Insider, has spent her entire career in tech. After a health scare a few years ago, she realized how little she actually knew about her own health. She started to learn more, write more and share her knowledge and insights. When femtech was still in its infancy, she was among the first to connect the dots and rally other industry leaders around their common cause of innovating for women’s health. Femtech Insider is the result of her efforts to build an industry leading femtech platform and community.
Women in Healthcare Leadership 2019 (Oliver Wyman)
Femtech: Digital Revolution in Women’s Health (Frost & Sullivan)
What is Femtech? (Femtech Insider)
Photos (c) Christina Spörer
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