February 13, 2024
Femtech Canada, a Canadian network that aims to inspire and foster a community dedicated to innovation in women’s health, has officially launched on January 17, 2024 with “over 120 Canadian start-ups, scale-ups, industry partners, investors, accelerators, and service providers in its network”, as reported by BetaKit.
Founded in 2021 by Rachel Bartholomew, who is also the founder of Hyivy Health, Femtech Canada’s goal is to provide resources and support to tech companies in the women’s health space. It aims to bridge the wellness gap and address healthcare disparities faced by women in Canada which include underfunding and inadequate treatment as highlighted in the report by the McKinsey Health Institute.
While Femtech Canada does not directly invest in companies, the network will provide networking, training, mentorship and business advisory support for fundraising to tech companies in the women’s health space.
In 2022, Femtech Canada partnered with Hamilton, Ontario-based Innovation Factory to build an advisory board and test its initial offerings. The advisory board currently includes representatives from Esplanade Ventures, Amplify Capital, and Wittington Ventures.
Ella Seitz, a partner at Esplanade Ventures, is optimistic about the investment potential in the women’s health sector. She notes: “[g]lobally, women account for over 80 percent of healthcare decisions. Moreover, the femtech industry is growing at a 16 percent CAGR and is expected to grow to $97 billion by 2030.″ This statement underscores the immense potential of the femtech industry on transforming the future healthcare landscape for women in Canada.
Author: Noor Sakran, 2023/2024 Articling Student