AXA has found its FemTech's ten rising starsIn partnership with 50inTech, we are pleased to unveil the top 10 women-led startups selected to join the first global FemTech Accelerator Program. ALL ARTICLES | Innovation
Congratulations to the FemTech Accelerator Program finalists!
Having evaluated more than 170 applications, AXA and 50inTech have selected 10 finalists to join the global FemTech Accelerator program jointly launched during the 2019 Women’s Forum. Four main criteria were considered for the selection process: innovation, female-founded, market size, global ambition to change the future of women’s health.
We received more than 170 applications from startups. We are extremely enthusiastic about the quality of the talent that has made it into our program and look forward to helping them grow through the FemTech accelerator and contribute to changing the future of women’s health.
What is FemTech again?
FemTech describes tech products and services in the space of female health, including periods, menopause, fertility, breastfeeding, incontinence, contraception. It is a fast-growing market that remains underfinanced, despite its considerable potential. Today, only 4% of tech investment in life sciences is aimed for women’s health tech solutions, but the market is expected to reach a $50 billion market size by 2025! (Frost & Sullivan)
What awaits the winners?
During the eight-month acceleration program, the startups, all raising seed to Series A, will receive support and mentoring from a team of experts including AXA top managers, strategic partners, successful FemTech entrepreneurs and investors, to help project leaders raise funds or develop their business model.
AXA’s innovation ecosystem will be made fully available to the participants to give them opportunities to grow their businesses. The program also includes a Learning Expedition Week in Tel Aviv, one of the world’s major tech hubs in the sector, taking place in November, if the pandemic situation allows it.
I am excited to launch the first global online FemTech accelerator in partnership with AXA as it reflects our mission at 50inTech to help accelerate female talent fulfill their ambitions, which requires educating investors to take conscious steps to avoid bias. This acceleration program aims to provide 10 promising female founders with the support they really need to accelerate their business.
Women’s health and entrepreneurship: two key commitments for AXA
“Women are key to developing our overall vision of being an ever closer partner for all our customers, since women engage us and push us to answer their specific needs in innovative ways”, Thomas Buberl, CEO of AXA.
Published in 2015, the “She for Shield” report was the first to comprehensively explain women’s lack of financial protection, especially in emerging economies. Since then, we have stepped up our efforts to stop discrimination against women, in the area of business financing as well as access to healthcare. This acceleration program is a major step forward in our strategy to promote women’s entrepreneurship and women's health.
50inTech is the ideal partner to make this program happen. The aim of this community of entrepreneurs is to strengthen women's influence in the tech industry. AXA has partnered with the 50inTech platform since May 2019.
For the fourth year in a row, AXA is an official partner of the Women’s Forum, an international event devoted to ideas and solutions for unleashing women’s leadership in the economy and society. Read more about AXA's participation in the 2019 Women's Forum.