Europe’s leading independent FemTech accelerator, FemTech Lab, is excited to announce that it will present its first equity-free grant sponsored by Google for Startups, 3S Money, and Essity Ventures. This marks significant growth for the accelerator program, which is now running its third cohort in under two years.
The £30,000 grant - the biggest of its kind in the women’s health and wellbeing space - will be awarded to at least one of the nine FemTech startups currently participating in the Spring program. This prize will be given to the startup that makes the most impressive progress during the 12-week program, which started in March. It will be announced at the Demo Night celebrations on 26 May.
FemTech Lab co-founders, Karina Vazirova and Katia Lang, highlighted the potential impact of the Spring 2022 cohort equity-free grant: “We hear about FemTech being underfunded all the time. As the major player in the space, this is the issue we have to address. Our new equity-free grant is the way to “walk the talk” for corporates and investment funds, who keep discussing the lack of funding for FemTech entrepreneurs. We’re thrilled to have the support of Google for Startups, business banking provider 3S Money, and Essity Ventures. It’s companies like these, which recognise the importance of revolutionising the women’s health sector, who’ll help us drive change.”
Google for Startups UK’s Startup Partner Manager, Mariama Boumanjal, said: “Startups in the women’s health and wellbeing sector have the potential to transform women’s access to the best care, services, and products they need. These innovations require support from all directions, from business advice to funding. By joining forces with FemTech Lab, we’re excited to give the most promising startup a head start, while bumping women’s health further up the agenda in both the business world and the broader healthcare sector.”
Through the 12-week accelerator program, FemTech founders from across the world have been put through their paces across seven different FemTech business categories, culminating in a Demo Day on May 26. The unique program built for startups operating in the women’s health and wellbeing space involves over 50 workshops with 60 expert advisors across three main sprints: Product, Go-To-Market, and Fundraising – all with a FemTech-specific angle.
In response to extensive interviews with stakeholders in the FemTech industry, the program is tuned into the real-world problems startups face as they go to market and attract investors. For example, it has incorporated “Money Mondays” to support founders with fundraising, as well as a state-of-the-art Mental Wellbeing module to help founders strengthen their leadership skills, mental resilience, and wellbeing.
The Spring 2022 cohort follows the success of the previous two cohorts, with around 20% of alumni getting overfunded. The successes were not isolated to funding, as the Spring cohort has triumphed from digital propositions to major national deals, corporate sponsorships and grants, as well as playing a leading role in the UK Government’s Women’s Health Strategy.
Taking part in the Spring program are MoxyPatch, Feminutes, Fly Mama, Love + Body +, Ma Joie, YeneHealth, Blob Box, Beauty Twins, and We Seek. This cohort of promising FemTech startups span wearables, apps, online membership platforms, subscription boxes and more that address important areas of women’s health including menstrual health, skincare, pregnancy loss, stress urinary incontinence, and sexual and reproductive care.
FemTech Lab offers opportunities to participate in the grant, and welcomes corporate sponsors to get in touch via the contact details below.
About FemTech Lab
Based in London, FemTech Lab is on a mission to revolutionise the FemTech sector and unlock the true potential of women to create a fairer, better world. By offering workshops and individual mentorships with world-class specialists in product design, medicine, technology, law, finance, and more, FemTech Lab aims to equip innovative female health and wellness startups with the know-how, tactics, and confidence to take the healthcare sector by storm. The program will also deliver a state-of-the-art Founders Mental Wellbeing module to help founders strengthen their leadership skills and mental resilience.
About 3S Money
3S Money is an authorised electronic money institution that enables companies to accept and manage bank transfers in foreign markets through all major payment rails. The digital accounts are designed for high-value import and export transactions, dividend distributions, finance, and treasury operations, with 3S Money handling all aspects of cross-border payments and FX risk management.