Ida Tin, the founder of the menstrual health app Clue, is a pioneer of the “FemTech” industry, which covers all types of technology and innovation designed to address health issues that solely or disproportionately impact women. Tin came up with the name “FemTech” in 2016 to give the community of people working in the sector a common identity, and to give investors reassurance about where they were putting their money.
FemTech is now set to be worth an estimated $1.186 trillion by 2027, according to forecasts by non-profit organization FemTech focus. The industry covers 97 health conditions that solely, disproportionately, or differently affect girls, females, and women. The estimate defines 23 subsections of women’s health, including menopause, bone health, abortion, brain health, cardiovascular and reproductive health. However, Tin argues that many businesses in this space aren’t getting the capital they need to fully get off the ground.
Although more than 80% of FemTech start-ups have a female founder, companies founded by women receive only 2% of the total capital invested in venture-backed start-ups in the US, according to PitchBook data for February. Tin stepped down as Clue’s CEO in 2021 just after the company’s birth control app received FDA approval as a medical device. She believes there are still gaps in the market when it comes to technology designed around women’s health, such as contraception and menopause, and that more advanced technology is needed to solve these problems. Read the full article about Ida and femtech at the link below.
