The rise of Femtech
With spring energy on the rise, we want to start this sunny season with empowering content. In celebration of International Women's Day we are dedicating March to female entrepreneurs. Ambitious women that saw a problem girls and women are confronted with and came up with a solution.
For some years now, a new phenomenon has been around, one that is focused on women's health and aims to make their lives more comfortable and easier. In case you do not know what we are talking about, wonder no more.
“Femtech”, a term that has become popular over time and is predicted to have a large impact on women’s lives.
What is “Femtech” and who invented it? Let’s find out!
What is Femtech?
Femtech stands for Female technology and according to the Cambridge dictionary, it refers to “electronic devices, software, or other technology relating to women's health”.
When we refer to women’s health, this technology can be involved in various contexts such as: menstruation, fertility, pregnancy, breastfeeding, hormonal imbalances, reproductive system challenges, chronic conditions, mental health, various types of cancer (breast cancer, ovarian cancer) sexual wellness and general health.
But how did this term come to be?
Femtech was coined in 2016 by none other than Ida Tin, Danish author and entrepreneur, co-founder and CEO of Clue, a menstruation tracking app. She came up with this term while attending a Techcrunch event in San Francisco. While she was looking at the panel of speakers regarding female health, she realized that all of the businesses were working towards a common goal and saw that a new business category was on the rise. One that did not have a name yet. She felt like this phenomenon needed a name in order for everyone to understand that something new was happening. And that’s how the term “Femtech” appeared. Ida made an analogy in an interview: “ Like we have Fintech, we also need Femtech”.
Ida Tin has always been an entrepreneur, looking to push her own boundaries. Her idea of developing Clue, a menstruation tracking app, came from a mix of personal needs and the advantages technology offers to daily life.
Unfortunately, when pharmaceutical companies are developing a medicine or a medical device, women are often left out during the clinical research, as the hormonal changes may influence the results. But leaving out half of the population is not a very effective approach.
“If you truly shape the world to actually fit women’s needs you would probably have a very different world, and for sure you would think about it when you develop technology and when you develop medicine.” Ida Tin
Clue - the last piece of puzzle for your body
Founded in 2013 and Berlin-based, Clue is a period-tracking app, with over 19 millions users. What makes it so special? It’s mission is to help people understand what’s going on in their bodies by gathering data around their own bodies and use that data to help them navigate life.
Clue has big plans in the near future, as the FDA recently gave clearance to a new feature, a digital contraceptive.
Other Femtech companies that focus on reproductive health worth discovering:
With the rise of Femtech we are witnessing a revolution focused on women’s needs. And this is just the beginning. We are very grateful to be living in this era, where technology can have such a significant positive effect on women’s lives.
Be smart. Be (c)LIT. Fly with us!🌺🐝
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