The Rise of FemTech and Digital Health Innovation Opportunities – Megan Capriccio

Originally from the United States, Megan Capriccio moved to Australia to get her Master’s in International Relations. Her focus was looking into women’s health, a low priority for many countries around the world.

As she worked through assorted positions and studies at the University of Sydney, she realized that femtech was essential to creating more health-related opportunities for women everywhere — including in Australia. So, Capriccio investigated to see whether there was interest in femtech in Australia. Her discovery? Australian women felt it was vitally important, with new startups soon contributing to the rise of femtech.

What Is FemTech?

Femtech refers to any product, device, or service that helps women with health care and allows them to take control of their health. You’ll find it usually used for software, diagnostics, and products and services specifically focused on women’s health. Most people assume that women run femtech, but men can also manage femtech companies, as they are excellent allies. The more diversity in the rise of femtech, the better, as Capriccio puts it.

How women receive treatment in healthcare settings is quite different from how men receive treatment. This contrast is one reason for the rise of femtech startups. In many cases, female entrepreneurs who focus on femtech help others with problems they face themselves. While femtech can refer to any female-based disease or health issue, it often focuses on specific areas. These include:

Fertility: Fertility is one of the most common focuses in the rise of femtech. There are countless apps and devices to help women stay on top of their ovulation for natural family planning, whether getting pregnant or avoiding pregnancy.

Menopause: Older women experiencing menopause have a lot going on, and there’s not much in the way of help for them. Apps, forums, and services, and products specifically for menopausal women are pretty popular.

Pregnancy and Nursing: A big part of reproductive health is looking at pregnancy and birth, scary times. Women want to inform themselves and are often willing to buy products and services that help ensure their pregnancy goes well.

Beauty: You’ll find beauty to be another popular area in the rise of femtech. This is particularly true for medical issues that affect the skin and traditional beauty standards. Many startups look to solve this common problem and make it easier for you to find treatment as needed.

Sexual Health Care: Sex is something that many women still feel is taboo, so femtech startups with a focus on sexual health care must make its importance known. Capriccio says that women need to know their options for sex, and they should be free to choose the products and services that allow them to take control of their lives and bodies.

Fitness and Health: Fitness and health fall under femtech and are equally vital for women’s wellbeing. Capriccio acknowledges that, as a woman, you may need to do things differently than men, so what does that look like? Having femtech companies focused on this particular area of health can be helpful for women who need that extra bit of help.

Cancer: Simply taking control of their cancer diagnosis and treatment is another area of concern for women. As Capriccio states, the more you know, the more you can do, so having a better way to handle cancer can become very empowering.

The rise of femtech reaches many other areas, but these are some of the more common industries for femtech companies.

What Is the FemTech Collective?

The FemTech Collective is a global network and support service for companies, investors, and professionals focused on technology and women’s health. The overall mission of the FemTech Collective is to motivate and inspire quality innovation in the women’s health technology space, providing strategic opportunities for startups assisting in the rise of femtech.

In 2016, Nicole Dahlstrom co-founded the FemTech Collective in the U.S. because she realized a significant deficit in online services for female-health-focused startups. Her attempt to create an online space for femtech companies rapidly turned into a thriving community and has expanded from the U.S. to Australia. Now, the Collective provides consulting and marketing services to help those running female-centered businesses build a better business and improve their chances of making it through the early days.

Megan Capriccio is the co-founder of the FemTech Collective, which she runs in Australia with the ultimate vision of becoming the go-to for women’s health tech. The Collective has an extensive network that spans the globe, with some regions requiring extra support. Australia is one of these pockets needing more attention.

Together, the women have created a support network that reaches worldwide to help women-based businesses in the health industry create better products and services. They also encourage skill development and other services to help improve businesses. Capriccio says that there’s no shortage of options in the world of femtech, but it’s always good to have backup and some helpful friends working with you or giving encouragement.

Femtech is growing fast and is expected to receive more than $9 billion in investments by 2024. With so much backing and plenty of innovative new ideas emerging, the rise of femtech and femtech startups shows no signs of slowing down. Femtech products and services are an excellent choice for women wanting to improve their health, but they’re also a good place for investors to start looking.

The FemTech Collective has a range of femtech startups in the network. If you are interested in learning more, reach out to them for more information. Likewise, if you’re managing a femtech startup in the U.S. or Australia, check out the Collective and see if you’re interested in joining. The rise of femtech holds great promise for better health for women everywhere.