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In today’s healthtech in a nutshell:

HLTH’s Disco Stage putting a spotlight on Women’s Health Needs in the Workplace

A key discussion at HLTH yesterday (Breaking Glass Ceilings: Supporting Women at Work) highlighted how companies are finally tackling the gender gap in workplace benefits. Historically, women have paid more for healthcare while getting less value from their benefits. Now, forward-thinking employers are moving beyond one-size-fits-all approaches to offer comprehensive women's health support—from reproductive care and menopause support to childcare solutions. The business case is clear: when companies address women's unique health challenges, they see higher retention rates and increased productivity. It's becoming clear that supporting women's health isn't just about equality—it's a strategic imperative for building more resilient and competitive businesses in today's marketplace.

The Speakers:

Deena Shakir

Janet Choi

Liz Harrington

Laurine Tibaldi

Here are some alternative insights on Working Women’s Wealth, Workplace, and Community from various voices beyond the HLTH conference:

Even in Women's Health Tech, Male Founders Get More Money

The summary:

New research reveals that women-led femtech companies are less likely to secure funding compared to those led by men, even in the female-focused healthcare technology sector. Female founders face additional hurdles when using advocacy-related language in their pitches, while male founders benefit from using the same terminology. Since 2010, female-founded femtech companies have raised 23% less capital per deal compared to male-founded ones, highlighting a persistent gender bias in venture capital funding.

Key points:

• Structural Gender Bias in Funding: Female-founded femtech companies raise 23% less capital per deal than male-founded ones and women-led companies receive 28% of VC funding vs. 38% for male-led companies. Even having one woman on a mixed-gender founding team reduces funding chances

• Language and Perception Barriers: Words like "women's rights," "equality," and "empowerment" hurt female founders' chances while the same advocacy language benefits male founders' funding prospects. Moreso, female founders are perceived as "emotional" and "social impact-focused" while men are seen as "business-savvy"

• Industry-Wide Implications: 75% of femtech companies are founded by women, yet they face disproportionate funding challenges. Male-founded companies like Flo Health (founded by two men) achieve unicorn status while similar women-led companies struggle. Investors, predominantly male, often fail to understand the scale of problems femtech aims to solve.

Why this matters:

This disparity in funding represents a critical market failure in healthcare innovation, where those most intimately familiar with women's health challenges (female founders) are being systematically disadvantaged in their ability to develop solutions. This bias not only perpetuates gender inequity in the startup ecosystem but potentially limits the development of effective healthcare solutions for half the global population, impacting both public health and economic opportunities in the growing femtech sector.

The Hidden Cost of Inadequate Women's Health Support in Canadian Workplaces

The summary:

A new Sun Life report reveals that 60% of working women believe their health issues around menstruation, menopause, and reproductive health could impact their career advancement. Despite women making up nearly half of Canada's workforce, only 37% say their employers provide adequate women's health resources and support. Many working women are making career-limiting decisions, with some leaving their jobs entirely due to health-related concerns, particularly around menopause.

Key points:

• Career Impact and Health Challenges: 40% of women have made career-limiting decisions for health or family care reasons. 10% have left or plan to leave jobs due to menopausal symptoms. 29% have felt compelled to lie to managers about women's health-related sick days

• Workplace Support Gap: Only 37% of women say their employer provides adequate health resources. Just 42% report an open culture for discussing women's health at work. Women's mental health claims are significantly higher (40% vs 30% for men).

• Business Implications and Solutions: Employers can reduce absences and improve retention by addressing women's health. Comprehensive benefits should include contraceptives, mental health support, fertility procedures. Creating an inclusive environment for health discussions benefits all employees.

Why this matters:

The gender health gap represents a significant economic and social challenge, affecting not just individual women but also workplace productivity and talent retention. With women comprising nearly half the workforce, inadequate health support creates a systemic barrier to career advancement and workplace equality, ultimately impacting business performance and economic growth. This represents a "solvable problem" that, when addressed, can benefit both businesses and society while helping to close the broader gender gap in the workplace.

Empowering Women's Health: Shoppers Foundation Grants $2.8 Million to Community Initiatives

The summary:

The Shoppers Foundation for Women's Health has launched its 2024 Community Grants program, distributing $2.8 million to 41 organizations across Canada to enhance women's healthcare. This initiative seeks to address significant disparities in funding and research, focusing on critical issues such as mental health, sexual health, gender-based violence, and menstrual equity.

Key points:

• Funding Disparity in Women's Health: Despite women making up a substantial percentage of patients with "medically unexplained symptoms," only 7% of national funding is directed toward women's health research. This inequity poses risks to women's lives and well-being.

• Diverse Community Initiatives: The grants, which can reach up to $100,000 each, will support a variety of programs, including:

  • Mental Health Workshops by The Shaama Centre for Seniors and Women in Alberta.

  • Menstrual Equity Projects like The Period Purse's education initiatives, aiming to reduce stigma and increase access to menstrual products.

  • Support Services for Survivors of Domestic Violence and mental health programs across various provinces, such as the YWCA and the Surrey Women’s Centre.

• Long-Term Goals of the Foundation: Committed to investing $50 million by 2026, the Shoppers Foundation aims to tackle pressing health inequities faced by women. This includes enhancing representation in health research, addressing barriers to mental healthcare, and alleviating challenges stemming from poverty and domestic violence.

Why this matters:

The initiative is crucial for several reasons:

• Addressing Systemic Inequities: The lack of funding for women's health research can lead to misdiagnoses and inadequate care for women. By increasing financial support for community-led initiatives, the Foundation helps bridge this gap.

• Empowering Local Organizations: The grants empower local organizations that understand the unique needs of their communities. This grassroots approach fosters tailored solutions that can effectively address specific health challenges faced by women.

• Building Awareness and Education: Programs focused on menstrual equity and mental health not only provide necessary services but also educate communities, reducing stigma and improving overall health literacy.

Overall, this initiative reflects a commitment to ensuring that women's health issues are recognized, funded, and addressed in a comprehensive manner, paving the way for a healthier and more equitable future for women across Canada.

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