On the first day of the 2019 Women’s Forum, we are proud to announce, in partnership with 50inTech, a call for applications to find and support the world’s 10 best FemTech startups.
FemTech (Female Technology) is a term used to describe innovations designed to improve women's health. It is a fast-growing market that is currently underfinanced, despite its considerable potential. That is because FemTech has been long overlooked by (overwhelmingly male) investors and treated as a “niche” market – even though its products and services address 50% of the world’s population!
This status quo is changing. The FemTech market is expected to reach $50 billion by 2050, and several startups have already grabbed attention, such as ObsEva, a Swiss FemTech whose successful IPO made a splash in 2017, and Clue, a startup founded in 2013 by Ida Tin, FemTech pioneer, which already has more than 10 million users worldwide.
The FemTech Accelerator Program: for FemTechs by FemTechs
As a longtime supporter of women's entrepreneurship and women's health, we decided to launch our FemTech Accelerator Program. Our goal is to co-build a personalized support program with the selected FemTechs that will operate as a “business accelerator”.
We are looking for FemTech startups in the seed or Series A rounds of funding and headed by women. The 10 selected startups will be involved in building the program to ensure a close fit with their specific needs. Three types of support are planned:
Mentoring: Creation of a network of mentors, including top managers at AXA, strategic partners, and investors, to help project leaders raise funds or develop their business model.
Learning: Organization of a “Learning Expedition” to the FemTech hub of Tel Aviv.
Acceleration: The AXA Group’s innovation ecosystem made fully available to the selected FemTechs, to give them opportunities to grow their businesses.