Jamie McNeill
FemTech is a brand new segment of the technology industry that refers to new technologies that are designed to specifically cater for women’s health.
The industry has been thriving as of late, with many expecting it to one day reach a value in excess of $1 trillion.
Could the FemTech be Worth $1 Trillion?
According to CNBC, the industry is set to be worth over $1 trillion and one of the main ladies pioneering this technological development is Ida Tin.
The world of women’s health is certainly an important one, and the healthcare sector is already one of the largest in the world.
However, new technological advancements in areas such as AI have meant that there are a range of areas in women’s health that can now be addressed in manners that weren’t possible in the past.
According to the non-profit organisation FemTech Focus, the industry is estimated to be worth $1.186 trillion by 2027.
Who is Ida Tin?
Ida Tin is the female entrepreneur at the heart of this development and has led a fascinating career thus far in terms of starting businesses that improve the way we lead our lives.
After graduating, she founded a jewellery company, a motorcycle company, and then Clue, an app that helps women to track their menstrual cycles that is now used by over 11 million people worldwide.
In 2016, she coined the name “FemTech” with the goal of bringing more awareness to the industry of women’s health and how technology can pioneer it.
“It’s a little easier to say you’re invested in FemTech than, you know, a company that helps women not pee their pants… It kind of bridged the gap over to men as well, which was important, still is important, because so many investors are men.”
According to Tin, the funding for the industry at the moment is “peanuts”, and she believes that there is a huge gap in the market for attracting further funding.
Relevant news:
- Africa’s Largest Fintech Startup Flutterwave Loses $4.2m and 27 Institutions Interacted with the Hackers
- China Has “Stunning Lead” Over US in Emerging Technologies Says State Department Funded US Report
- Amazon Pauses Virginia HQ2 Construction Amid Tech Slowdown
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This article was written for Business 2 Community by Jamie McNeill.
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