Femtech fails to garner interest from women, opinion divided
Is the label, ‘femtech’ with all technological products and apps for female health and welfareapt? Opinion is divided!One set of women entrepreneurs feel that it helps to use the term in the context of starting or expanding their business. Tania Boler, chief executive of Elvieis one of those! A pelvic-floor trainer that enables women to undertakeworkouts over phone is one of the popular products from Elvie and the company seems to epitomize the term.
There are several aspects of female health that get included in the term’s purview; menopause, menstruation, fertility, pregnancy and breast feeding are just to name a few of them. With items like breast pumps, period trackers and more getting marketed under the term, it could very well herald the rise of a $50bn industry or so by 2025.
However, women like SuwCharman-Anderson feel otherwise. She states that as long as it remains associated with just tech things are fine. But if it becomes restricted to only everything female then it can become an issue, she said.
Boler opposes the view, she says that their pelvic-floor trainer has reached the retail stores and their other product; a wearable noiseless breast-milk pump has entered the swag bag of the 2019 Oscars. Boler is hands-on for the term; it certainly did open vast coffers for their product with about $42m funds successfully raised by Elvie in the current year.
Boler does add further that in reality with almost half of a country’s populace being women the usage of the term is totally unnecessary and when the issue of fertility comes into question it is wrongful to link the problem to femtech, says a Creative Futures analyst as that problem becomes a family problem.
Bethnal Green Ventures investor, Melaine Hayes says they do not use the term; she would rather focus on technologies that center around good health, a better society and a more ecologically balanced planet. The term femtech could have a broader perspective touching upon each of these aspects.