Investing in Women’s Health: Impact.51 Panel Discussion

I had the chance to attend today the demo day of the impact.51 's second cohort which took place at Healing Space ???? ???? .

I participated in the “Investing in Women’s Health” panel that was moderated by Miri Polachek along with Dr. Gal Noyman - Veksler , partner at LionBird and co-founder of the Hhamal VC and Deborah Garner , co-CEO of FEMSelect . What a treat to be alongside three amazing women that I love and respect so much.

Redefining Women's Health

Miri opened the discussion by challenging the audience's preconceptions about women’s health. Often, when people hear the term "women’s health," they think exclusively of reproductive health. However, women's health encompasses much more.

I began by emphasizing that women's health is frequently misunderstood and narrowly defined. While reproductive health is a significant component, women's health spans a wide array of conditions that either affect women differently or more frequently than men. Cardiovascular diseases, mental health conditions, autoimmune diseases, and brain health are crucial areas where women’s health research is either lacking or needs more attention. These areas are under-researched, leading to a significant data gap that impacts diagnosis and treatment.

Challenges in Women's Health Startups

Debbie Gardner, with her extensive experience in the women's health space, highlighted the unique challenges faced by startups. One of the major hurdles is the lack of precedent for successful exits in the women’s health sector. Investors are often hesitant to back women's health ventures due to a perceived lack of profitable outcomes.

Debbie noted that despite the substantial market potential—highlighted by reports from 麦肯锡 and public endorsements from figures like Joe and Jill Biden—convincing investors remains an uphill battle. Many investors still see women’s health as a niche market, even though issues like menopause and pelvic floor disorders affect a significant portion of the female population. The key, Debbie argued, is demonstrating a clear path to profitability and showing investors the potential for lucrative exits.

Innovation and Data in Women's Health

Dr. Gal Noyman Vexler focused on the importance of innovation and data in advancing women's health. She cited the example of Ovia Health , a company that began with a direct-to-consumer fertility app and expanded its offerings to cover pregnancy and early parenthood. Ovia's success was largely due to its extensive data collection, which allowed it to offer valuable insights and interventions for high-risk conditions. This data-driven approach enabled Ovia to secure enterprise contracts with health plans and employers, proving the viability of their business model.

Gal stressed the need for women’s health innovators to identify and address areas where women face delayed diagnoses or unique health challenges. Autoimmune diseases, cardiovascular conditions, and mental health issues are prime examples where targeted innovation can make a significant impact. Reproductive health is just one piece of the puzzle; a broader focus on these under-researched areas is essential.

The Intersection of Mental Health and Women's Health

In my current role at the ICAR Collective, I have shifted my focus from women’s health to mental health, especially in the wake of the traumatic events of October 7th. The intersection of mental health and women's health is particularly compelling due to the significant overlap in the challenges and data gaps faced in both fields.

I emphasized that health equity extends beyond affordability and accessibility; it also encompasses the need for more comprehensive data and knowledge about women's health. Mental health startups face similar challenges to those in women's health: a proliferation of new apps and solutions that must demonstrate their unique value to stand out in a crowded market. The question of who pays for these solutions is critical, as VCs look for models that save money for the health system, insurance companies, or hospitals.

Key Takeaways for Entrepreneurs

As the panel drew to a close, Miri asked each of us to provide a key takeaway for entrepreneurs in the women’s health space. Debbie Gardner reiterated the importance of identifying the paying customer and understanding why they would pay for the product. Gal Noyman Vexler emphasized the need to understand the target user and how they engage with the product, especially in contexts like insurance where engagement is crucial.

I concluded by stressing the importance of having a clear competitive advantage. Whether it’s the best team, superior technology, or unique access to data, entrepreneurs must clearly articulate what sets them apart from others in the field.

Conclusion

The panel highlighted the critical need for innovation, comprehensive data, and strategic business models in advancing women's health. Despite the challenges, the potential for impact and profitability in this sector is immense. By addressing the data gaps and focusing on a broader range of health issues, we can create meaningful advancements in women’s health and attract the necessary investment to drive these changes forward. The journey to closing the gender gap in health is ongoing, but with dedicated efforts and strategic investments, we can make significant strides in improving women's health outcomes globally.