Startup 4 Inclusion – The Role of Startup20 under G20 India (ERIA)

Arguments

The Femtech market is expected to double in size in the next five years, focusing on pregnancy, nursing, reproductive and menstrual health, and contraception.

Supporting facts:

• Advanced maternal care is a key part of Femtech.

• Women use their own data to track and manage their health.

Topics: Femtech, Pregnancy, Nursing, Reproductive health, Menstrual health, Contraception

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The growth of Femtech is breaking down barriers of stigma related to women’s health issues.

Supporting facts:

• Breastfeeding is stigmatized in many parts of the world.

• Social media giants ban and restrict many educational content on women’s health.

Topics: Femtech, Women’s health, Stigma

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Inclusive startups, particularly those focusing on underrepresented communities, can stimulate economic growth.

Supporting facts:

• Startup20 focussed on this issue.

• Activation of underrepresented communities can translate to an increase in GDP.

Topics: Inclusion, Startups, Underrepresented communities

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Establishing Lactamo faced many pre-market obstacles

Supporting facts:

• Etta Watts Russel personally experienced the challenges of breastfeeding.

• She noted IP, clinical validation, market validation, regulatory compliance, funding and manufacturing as obstacles faced during the establishment of her startup.

• Government grant funds and support from the Australian startup system were beneficial in her journey.

Topics: Breastfeeding, Startup, Accelerator programs, Government funds

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Startup20 provided an opportunity for diverse startups to learn from each other

Supporting facts:

• Startup20 engagement meeting allowed each country to present on their strengths and weaknesses in the startup space.

• The variety of delegates from founders to VCs and professional firms added diversity to Startup20

• Etta stated that she benefited from the recommendations and focus areas highlighted during Startup20.

• Different definitions of startups in various countries indicate the need for a unified understanding.

Topics: Diversity, Global Interactions, Startup20

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Femtech sector is anticipated to evolve hugely in next 5-10 years

Supporting facts:

• Taboo subjects are turning into focus areas

• Industry statistics predict that this area will double in the next five years

• Women’s health is closely related to data, which gives power to women

Topics: Femtech, Industrial Growth, Women’s Health

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Digitalization in Femtech space can bring numerous opportunities

Supporting facts:

• Digital solutions can make women more comfortable discussing their health solutions

• Digitalization can help to tackle fertility journeys, pregnancy and postpartum journeys

Topics: Femtech, Digitalization of Healthcare Solutions, Women Empowerment

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Report

The Femtech market, which encompasses technology-based solutions catering to women’s health needs, is projected to double in size within the next five years. This growth is primarily focused on areas such as pregnancy, nursing, reproductive and menstrual health, and contraception.

Advanced maternal care is identified as a key component of Femtech, highlighting the importance of providing comprehensive healthcare solutions for expectant mothers. One significant aspect of the Femtech market is its ability to empower women to track and manage their own health by utilizing their personal data.

By empowering women to take control of their health, Femtech plays a crucial role in promoting gender equality and supporting SDG 5 (Gender Equality). The rapid growth of Femtech is also breaking down societal barriers and overcoming stigmatization associated with women’s health issues.

Breastfeeding, for example, is stigmatized in many parts of the world. However, the growth of Femtech is gradually removing the barriers by providing support and education to mothers. In addition, social media platforms have implemented policies to restrict educational content on women’s health, but the development of the Femtech market challenges these restrictions and provides valuable resources and information for women.

Furthermore, inclusive startups, particularly those focusing on underrepresented communities, have the potential to stimulate economic growth and contribute to SDG 8 (Decent Work and Economic Growth) and SDG 10 (Reduced Inequalities). Activation of underrepresented communities has been linked to an increase in GDP, highlighting the positive impact of inclusive startups on the economy.

Etta Watts Russell, a prominent advocate for the integration of Femtech in the healthcare sector, emphasizes the importance of addressing stigmatized women’s health issues and empowering underrepresented communities. She underscores the economic benefits of investing in breastfeeding and the significant market potential for Femtech.

Establishing a Femtech startup comes with its own set of challenges. Obstacles such as intellectual property (IP), clinical validation, market validation, regulatory compliance, funding, and manufacturing impact the success of such ventures. However, government grant funds and support from the startup ecosystem can prove instrumental in overcoming these barriers.

The international platform Startup20 provides an opportunity for diverse startups to learn from each other. Through engagement meetings, various countries present their strengths and weaknesses in the startup space, promoting global interactions and the exchange of knowledge. The diversity of delegates, ranging from founders to venture capitalists and professional firms, adds richness to the startup ecosystem.

Support and education are crucial for the success of Femtech solutions. Etta Watts Russell emphasizes the need for educating mothers and raising awareness about solutions like Lactamo. Without proper support, the ability of Femtech products to improve breastfeeding statistics and women’s health outcomes may be limited.

The future of the Femtech sector looks promising, with industry statistics predicting a significant evolution in the next 5-10 years. Taboo subjects related to women’s health are emerging as focus areas, highlighting the growing recognition and acceptance of previously neglected issues.

The use of data in women’s health gives power to women, enabling them to make informed decisions about their well-being. Femtech solutions promote proactive approaches to healthcare, countering negative trends and bridging gaps in access to healthcare services. By empowering women to handle their own health issues, Femtech contributes to SDG 3 (Good Health and Wellbeing).

Digitalization has the potential to revolutionize the Femtech space. By providing digital solutions, women can comfortably discuss their health concerns and find support. The use of technology can also aid in tackling fertility journeys, pregnancy, and postpartum experiences. Overall, the growth and development of the Femtech market present numerous opportunities to address women’s health needs, break down societal barriers, and empower underrepresented communities.

By integrating Femtech solutions into the healthcare sector, prioritizing education and awareness, and embracing digitalization, significant progress can be made towards achieving the United Nations Sustainable Development Goals.

Arguments

Femtech market is expected to grow rapidly, with major categories including pregnancy, nursing, reproductive and menstrual health, and contraception

Supporting facts:

• The Femtech market is expected to double in size in the next five years

• the COVID pandemic significantly accelerated the rise and adoption of digital health solutions

Topics: Femtech, Growth, Pregnancy, Nursing, Reproductive health, Menstrual health, Contraception

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Women are more likely to use digital tools for healthcare

Supporting facts:

• Working age women are 75% more likely to use digital tools for healthcare than men

Topics: Women , Digital health tools, Healthcare

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Many Femtech offerings unfortunately go hand in hand with society’s labeling of supposed taboo subjects

Supporting facts:

• Breastfeeding, a crucial life-saving intervention for infants, is heavily stigmatized in most countries in the world

Topics: Femtech, Taboo Topics, Society

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Despite its growth, the Femtech market so far is primarily limited to the developed world

Supporting facts:

• Main development of the Femtech market has occurred predominantly only in the developed world

Topics: Femtech, Development Gap

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Initiatives like Startup20 aim to address the challenges faced by entrepreneurs, focusing in particular on underrepresented groups

Supporting facts:

• Startup20 is the first of its kind engagement group under the Indian presidency of G20

• Its task forces are empowered to develop key priorities for the global startup ecosystem

• One task force, Include, works to promote startups addressing challenges faced by underrepresented groups

Topics: Startup20, Entrepreneurship, Underrepresented Groups

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Etta Watts Russell stresses the importance of providing support and education for mothers in the context of breastfeeding and femtech solutions

Supporting facts:

• Etta’s own negative experience with breastfeeding motivated her to approach the problem

• Lactamo is a world-first product with a 100% clinical validation success rate

Topics: Femtech, Lactamo, Breastfeeding, Motherhood, Startup20

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There has been a major shift in what is considered acceptable and priority, especially in women’s health.

Supporting facts:

• Industry statistics project doubling of opportunities in women’s health in the next five years.

• Technology is enabling women, especially in remote/rural areas, to better access health solutions.

Topics: Women empowerment, Women’s health, Femtech

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Report

The Femtech market is expected to double in size within the next five years, focusing on areas such as pregnancy, nursing, reproductive and menstrual health, and contraception. This growth is partly due to the accelerated rise and adoption of digital health solutions during the COVID-19 pandemic.

Additionally, women of working age are 75% more likely than men to use digital tools for healthcare, indicating their greater engagement and interest in leveraging technology for managing their health. However, despite the positive growth prospects, many Femtech offerings still face societal stigma due to their association with taboo subjects.

This stigma hinders the widespread acceptance and usage of these products and solutions. Another concern is the limited development of the Femtech market in the developed world, leaving out significant portions of the global population and creating an inequality in access to innovative healthcare technologies and solutions.

To address these challenges and promote inclusivity, initiatives like Startup20 have emerged. Startup20, as the first engagement group under the Indian presidency of G20, empowers task forces to develop key priorities for the global startup ecosystem. One particular task force, Include, focuses on promoting startups that address the challenges faced by underrepresented groups.

In the context of Femtech and breastfeeding, providing comprehensive support and education for mothers is crucial. Etta Watts Russell, an advocate in this field, emphasises the importance of solutions like Lactamo, which has achieved a 100% clinical validation rate and aims to improve the support available to mothers.

Furthermore, there has been a shift in society’s perception of women’s health and priorities. Industry statistics project a doubling of opportunities in women’s health over the next five years. Technology enables better access to health solutions, particularly for women in remote or rural areas.

In conclusion, the Femtech market is poised for significant growth, driven by digital solutions and innovations addressing various aspects of women’s health. However, challenges related to societal stigmas and limited accessibility need to be addressed to ensure a more inclusive and global impact.

Initiatives like Startup20 and the advocacy of individuals like Etta Watts Russell play a vital role in promoting equality and proactive approaches to women’s health.