TORONTO, ON, January 17, 2024 – Femtech Canada, a women’s health network initiative operated by Innovation Factory, celebrated its official launch today at a gathering in Toronto, Ontario. Signalling a milestone in women’s health technology, Femtech Canada is the first organization in the country dedicated to advancing women’s health innovation, commercialization and investment in an effort to address a global market estimated to exceed $4.8 trillion by 2025.
Femtech Canada represents and supports companies with technologies that cater to the health and wellness needs of women, girls, non-binary individuals, trans people, and those assigned female at birth – thereby shaping a more inclusive and effective healthcare landscape. The team provides strategic networking, training, and business advisory support including fundraising and mentorship. Playing a crucial role in nurturing and strengthening the community, Femtech Canada has assembled a strong ecosystem with over 120 Canadian women’s health start-ups and scale-ups, industry partners, investors, accelerators, and service providers.
Women’s health has historically been under-researched, under-funded, under-served, and even considered to be “niche” within the business and investment community. Rachel Bartholomew, the founder of Femtech Canada (and founder of Hyivy Health, a women’s health company) began the initiative over 2 years ago, enabling Femtech Canada to serve as a platform for companies to come together to share knowledge and connections while addressing barriers ranging from a lack of resources and investment to advertising bans and talent shortages.
Femtech Canada is proudly backed by an advisory board of venture capital members including, Esplanade Ventures, Amplify Capital and Wittington Ventures; femtech companies including Future Fertility and Hyivy Health, and the business accelerator, Innovation Factory.
“We are truly overdue to rally around women’s health – the health of 51% of the global population. Femtech Canada exists to advance the recognition and resourcing of women’s health and wellness companies. We take a founder-first approach in all of our programming and are excited to support those innovating for the betterment of Canada’s diverse population,” says Karen Linseman, VP of Operations at Innovation Factory.
Ella Seitz, Femtech Canada advisory board member, women’s health investor and a partner at Esplanade Ventures, a leading Canadian Healthtech venture capital firm is committed to the growth of the sector and points to the tremendous investment and impact opportunity in the space, “50% of the population is not and should not be considered ‘niche’. Globally, women account for over 80% of healthcare decisions. Moreover, the femtech industry is growing at a 16% CAGR and is expected to grow to $97 billion by 2030”.
Today’s launch event attracted more than 100 members from the network and provided an opportunity for early-stage femtech companies to network with industry partners as well as pitch for a chance to receive $35,000 in non-dilutive funds, supported by the lead sponsor, Sun Life, as well as Shoppers Drug Mart, Borden Ladner Gervais LLP (BLG) and Ontario Bioscience Innovation Organization (OBIO).
About Femtech Canada
Femtech Canada is a national network committed to connecting Canadian femtech companies with essential resources and recognition. Through mentorship, advocacy, and an active online community, Femtech Canada aims to engage the sector and inspire entrepreneurs and researchers to pioneer in women’s health innovation. Emphasizing an intentional, intersectional, and inclusive approach, Femtech Canada values innovative technology that enhances the lives of end-users.
About Innovation Factory
Innovation Factory is a not-for-profit business accelerator, serving as the catalyst for technology innovation in Ontario since 2010. Innovation Factory provides business services, training, mentorship, and strategic connections to drive market adoption, leverage intellectual property, and increase revenues, investment, and jobs. Innovators can also access sector-specific resources including exclusive smart transportation test environments and data; and a formal life science and health innovation ecosystem.
Annie Horton, Marketing Lead