Women represent 49.58% of the whole human population. Yet, the technological field focused on servicing women’s health represents an unbelievably small part of the market - there are only 200 female-focused health startups worldwide. That’s where FemTech comes in.
The FemTech industry was created precisely for catering to women’s biological needs and expanding the influence of women on world technologies in response to social ignorance.
The concept of FemTech was created and presented to society in 2016 by Ida Tin. Tin is a Danish entrepreneur and founder of the popular app Clue which assists women in managing their menstrual cycle and reproductive health. Her idea of making FemTech a separate field of innovation is based on the need to emphasize the essentiality of discussing and treating women's needs.
Why is FemTech so important?
1. The FemTech industry reduces gender inequality in the tech field
According to researchers, only 29% of people working in STEM fields are women. However, FemTech is turning this statistic over: only 29% of those working in this field are men. Out of unwillingness to come to terms with the existing inequality in the STEM industry, Fem-tech frees women from gender stereotypes, promotes and recognizes talented and deserving female scientists and technicians, and gives them more employment opportunities.
2. FemTech normalizes the female body and health
For all of human history, the female body and its common physiological features were condemned and hidden by society. Somehow, discussion and demonstration of natural processes and problems, such as menstruation and body hair became taboo, and this taboo has carried into the modern age.
Fortunately, humanity has started to understand female health and accept the many topics related to it by educating girls about their bodies and health from a young age, erasing a ban on dialogue about their sexuality, and getting rid of unrealistic and unhealthy beauty standards.
Despite this, there is still a lot to do to educate people. FemTech has already had a huge impact on normalizing the importance of women’s health not only to women themselves but also to society.
According to the research “Women's reproductive health - Statistics & Facts”,
31% of adult women regret that they didn’t know how their reproductive system works. No one thought that women needed to be educated about their health when these women were young girls.
Now, FemTech gives us the opportunity to know our bodies and how to take care of them better. Because of FemTech, this statistic could change in future generations as women’s health is normalized.
3. No industry can understand you better than FemTech
FemTech companies and projects are overwhelmingly created and led by women. Because of this, they are much better suited to understand users’ needs, diversity, and problems. They can simultaneously create innovation that caters to women both individually and as a group. FemTech efforts are largely connected to healthcare. Specifically, these efforts are divided into 25.5% Pregnancy and Nursing, 24.8% Reproductive Health, 13.1% Longevity, and the remaining percentage consists of Pharmacology, Diagnostics, Beauty, etc.
Due to the variety of issues the FemTech industry caters to, all women are able to find a space that relates to them on a more personal level.
4. FemTech makes you feel safe
While FemTech mostly involves innovations related to healthcare, these innovations can provide safety not only for your physical and mental health. FemTech can protect you in cases of sexual assault and harassment threats as well.
SafeUP is a perfect example of an app created by a woman to cater to women’s needs and keep us safe. Our founder, Neta Schreiber, saw her friend facing these threats of assault and harassment and immediately understood that creating a female community aimed at protecting each other was essential.
SafeUP is not only a tool for prevention and protection. Most importantly, SafeUP is about creating supportive communities working towards a safer and more supportive world.
Helping the FemTech industry to grow is extremely important and beneficial for every woman in the world. We should support every new FemTech idea or startup. Even without investing or being a technical specialist, you can help by simply downloading women-oriented apps, such as SafeUP, and promoting them to your friends and family. This is an easy but important step that will improve women’s life, health, and wellbeing.
If you want to be part of the change, feel safer and be part of a global community of women, download SafeUP here.