March 14, 2023
While women typically spend an average of 80% more than men on their health needs, women’s health startups still only receive 5% of health funding. FemTech, dedicated to solving women’s underserved health needs, improving outcomes and democratizing access for all women, is a diverse and rapidly growing sector — estimated at $75 billion by 2025. Why, then, the disparity between such generative potential and the necessary structures with which FemTech can succeed?
This International Women’s Day, RAPP’s Health & Wellness practice made it their mission to create a culture of “yes” around FemTech. With the Future of FemTech event at the Sparks & Honey studio in New York, they kicked off the official launch of Series R, a marketing accelerator program for health startups in the FemTech space that invites early-stage startups to apply for pro bono marketing services that would otherwise remain financially inaccessible.
Erica Kraus, SVP US Healthcare Strategy Lead at RAPP, is a former founder herself of a water monitoring startup in response to the water crisis in Flint, Michigan. Series R is her brainchild, merging a deep understanding of the barriers that early-stage startups can face when addressing marginalized communities with her expertise in creating equitable patient outcomes for brands. Erica makes it apparent that Series R is a natural fit for RAPP with its privilege as a leader in the health and wellness space, and its passion for amplifying diverse perspectives. Consequently, the program is the bold product of a heart-led approach from everyone involved.
During the event, moderator and DE&I Director Nicole Simpson and Erica Kraus talked with panelists and Series R judges, Nicky Battle, Managing Director of Healthcare at Ketchum, and Tracy Keim, Chief Marketing Officer of Qvin — a first-of-its-kind FemTech startup that uses menstrual blood to test for relevant health information. They discussed some of the key attributes of an ideal Series R candidate and addressed questions around eligibility, as well as RAPP’s offering to the winning startup through the very best of our craft to accelerate their marketing journey.
The panel tackled some of the industry’s overarching questions around health equity and the power of partnership, identifying how Series R seeks address the democratization of solutions for all women’s health needs, across the spectrum of age, race, and gender identity — a pursuit that RAPP believes is central to the future of health and wellness.
We hope you were able to attend, whether virtually or in person. And if not, you can catch the complete Future of FemTech discussion below. Be sure to stay tuned as the Series R journey continues to unfold!