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For femtech startups, funding and faith pose challenge

Written on:
April 27, 2022
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A 2022 survey by Singapore-based consumer research firm Milieu Insight found that most women in Southeast Asia lack knowledge in menopause (54% of respondents) and fertility and infertility issues (51%).  

Women in the Philippines specifically admitted a lack of knowledge on pregnancy and postpartum health, a result of traditions and myths surrounding Filipino beliefs and practices and the tendency to stigmatize women’s health and treat it as taboo.  

“Full realization of female health in the Philippines may be a challenge due to its unique position as a predominantly Catholic as well as Asian country,” said Juda Kanaprach, Milieu Insight co-founder and managing director, via e-mail.  

“Despite a massive digital transformation wave, there still exists a lack of access to technology and consequently information that can answer questions on female health.”  

The study also found that this lack of access has led to 42% of Southeast Asian women not knowing what resources to look for, 40% being unsure of the credibility of resources, and 34% being unsure if their personal experience is even something to worry about.

Given the socially taboo nature of female concerns, online resources are the number one option, with 54% of women saying they go online for answers. Health professionals are the second choice (50%) and parents are the third (36%).  

Ms. Kanaprach added: “We can begin by guiding women towards the right direction and bridge the knowledge gap for women to take the first step out and navigate resources.”

Female-focused, female-run

According to Ms. Kanaprach of Milieu Insight, Southeast Asia’s tech workforce is 32% women, exceeding the global average of 28% in a 2020 study by the Boston Consulting Group.  

However, in boardrooms and in fields of science, technology, engineering, and mathematics (STEM), there remains a huge need for female talent.  

“The venture capital funding scene remains male-dominated, which creates the challenge of pitching to investors who do not personally identify with women’s issues,” she said, “But there is a remarkable increase in female-focused incubators, accelerators, and venture capital funds with a purposeful portfolio approach to supporting female-run businesses.”

Spurring this is the prediction that the global telehealth market for women’s health may reach $215.7 million in revenue by 2027, she added

Read the full feature on Business World.

Find out more about the Femtech study here.

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