Is the term ‘femtech,’ which refers to all technology items and apps that are geared toward female health and welfare, appropriate? Opinions are mixed on this issue! Using the phrase in the context of beginning or expanding a business, according to one group of female entrepreneurs, can be beneficial to them. That includes Tania Boler, the chief executive officer of Elvie! One of Elvie’s most popular items is a pelvic-floor trainer that allows women to perform workouts over the phone. The company appears to be the epitome of the phrase “woman’s empowerment.”
There are various facets of female health that fall under the ambit of the term, including menopause, menstruation, fertility, pregnancy, and breast feeding, to name a few examples. By 2025, it is possible that products like as breast pumps, period trackers, and other such devices will be sold under the name, heralding the rise of a $50 billion or more industry.
SuwCharman-Anderson, on the other hand, is of the opposite opinion. She believes that as long as it is related with only technology, everything would be good with her. However, she cautioned that if it is restricted to exclusively female-oriented items, it may become a problem. ”
Ms. Boler is of the opposite opinion, claiming that their pelvic-floor trainer has made it to retail outlets and that their other product, a wearable noiseless breast-milk pump, has made it into the swag bag for the 2019 Academy Awards. Boler is hands-on in the truest sense of the word; it undoubtedly helped to open wide coffers for their product, with Elvie successfully raising approximately $42 million in funding in the current year.
Boler goes on to say that, in reality, with women accounting for nearly half of a country’s population, the use of the term is completely unnecessary, and when the issue of fertility is raised, it is incorrect to link the problem to femtech, according to a Creative Futures analyst, because the problem becomes a family problem.
Founder and investor Melaine Hayes of Bethnal Green Ventures explains that the company does not use the phrase because she prefers to focus on technology that promote good health, a better society, and a more environmentally balanced globe. The term “femtech” could be used to refer to a broader range of technologies that encompass each of these qualities.