Top Takeaways from the Women's Digital Health Summit for Early Startup Founders

The momentum for women's digital health continues to grow. With the recent Deloitte, Boston Consulting Group, and McKinsey & Company reports all pointing to the opportunities in women's health you can follow the signals investors are tracking. McKinsey & Company estimates the women's health sector could contribute a staggering $1 trillion annually to the global economy by 2040!

Specific to digital health in 2024, The Boston Consulting Group emphasizes that:

"...leaders in women’s health—and in particular FemTech—over the coming year will be the data-driven health care companies that are able to offer an integrated, end-to-end care pathway for women."

This end-to-end care pathway sentiment was echoed at last week's Women's Digital Health Summit, in addition to the need for data that backs up your service/solution/product.

Key takeaways from the summit that early startups can leverage as they build out GTM plans, partnerships, and growth strategies in the months ahead are as follows:

From Investors:?

• VCs remain excited about the market, with a continued focus on fertility, menopause, diagnostics, and more.?
• Funding is expected to increase in 2024 (over 2023), so founders – stay optimistic and focused on showcasing your long-term revenue potential.?
• Grant funding can also help de-risk your business (and reduce dilution).

From Founders and Clinicians:?

• Strategic partnerships are key. As the industry grows, founders and clinicians are prioritizing strategic partnerships to expand reach and improve women's overall health experience end-to-end.?
• There's untapped potential in leveraging audience, offerings, and services collaboratively across heathcare verticals.

The Patient/Provider/Payer Ecosystem:?

• Navigating the healthcare ecosystem is nuanced, B2B/B2B2C strategies require a deep understanding of stakeholder needs and the unique value propositions your startup brings to the table.
• Take the time to learn as many details about how your prospective partners earned revenue in the last 12 months so you can strategically position your startup within this stream.?
• Clearly define the benefits and revenue pathways for each party involved; understand this process will take time and vary by stakeholder when developing your GTM approach.

Strategic Integration of AI:?

• Use AI strategically, not blindly. Leverage AI for repeatable tasks that minimize risk and maximize efficiency but avoid introducing unnecessary complexity.
• Keep systems bias in mind - especially for women and underrepresented audiences.

Actionable Strategic Advice:

• Payee partnerships: Plan your go-to-market strategy with long-term partnerships in mind while also developing a short-term path to revenue.
• Clinical partnerships:?Look for a clinic sponsor or smaller clinics as initial points of entry
• Risk management:?Build a risk mitigation strategy into your GTM plan, considering regulations, costs, deal timing, and growth potential upfront
• Branded partnerships:?Explore partnership opportunities for early-stage awareness building.
• Data is everything:?Prioritize your data proof points. Focus on data that showcases your value and market opportunity. Use it to develop best-in-class solutions that prove value for investors.
• Find the right capital fit:?Seek mission-aligned investors who can provide the support you need. VC money isn't for everyone, so be clear about your goals.

Want to dive deeper into strategic growth for women's health in 2024?

• Sign up for the Holistic Design Group’s Women’s Health Strategic Growth?newsletter series.
• Book a quick 'pick-our-brains' strategy session: DM me

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