The Northern FemTech and Women’s Health Tech Accelerator Programme
Health Innovation North East and North Cumbria (HI NENC) and the North East and North Cumbria (NENC) Integrated Care Board, along with Lifted Ventures, are working together to deliver the Northern FemTech and Women’s Health Tech Accelerator Programme.
Closing the gender health gap
In the UK, women typically have a longer life expectancy than men, but they often experience more years of poor health. This innovative programme aims to address the gender gap in women’s health by empowering early-stage innovators in FemTech and Women’s HealthTech to scale their business ideas and secure crucial investments.
Supporting FemTech and Women’s HealthTech
FemTech and Women’s HealthTech are rapidly growing sectors with enormous potential, yet they remain underfunded. A recent report found that, on average, women are in poor health for 25% longer than men. This could be reduced by almost two-thirds if the health gap were closed.
This programme addresses these disparities by supporting businesses that are working to improve women’s health.
In the UK, it is estimated that closing the gender health gap will lead to significant improvements in national GDP. One study found that gender equality in health could contribute to increased economic growth, with women’s health improvements potentially adding billions to the economy by increasing women’s participation in the workforce and enhancing their productivity.
By supporting businesses with the potential to drive real-world impact, the programme aims to:
- Improve health outcomes for women and girls
- Support female entrepreneurs
- Drive economic growth in the North East and North Cumbria region
What support does this programme provide to innovators?
The programme is supporting eight female founders by providing assistance in the following areas:
- Business Plan Evolution: Enabling innovators to understand and develop their business models, visualising all the critical components required to start and grow a business. This support also helps identify key priorities and ensures that essential aspects of the business are addressed effectively.
- Accessing Funding: Offering guidance on available funding options, exploring the current financial landscape, and identifying what investors seek in potential opportunities.
- Financial Forecasting, Legal Requirements, and Intellectual Property: Supporting the preparation of financial projections for business growth, offering legal advice, and providing guidance on structures and governance to prepare for investment. Assistance is also given to protect business assets through intellectual property management.
- Investor Readiness, Pitch Deck Development, and Elevator Pitching: Preparing innovators to engage with investors, including creating compelling elevator pitches for business conversations and developing effective pitch decks. This process ensures each business has a comprehensive plan and a clear approach to presenting to investors.
- Preparing for Investor Due Diligence and Refining Business Opportunities: Providing one-to-one coaching sessions to ensure businesses are ready for investor evaluations.
- Pitching to Investors: The programme culminates in a pitch session, where each business presents its opportunity to a group of investors.
How is HI NENC supporting this project?
HI NENC is working in partnership with the NENC Integrated Care Board to:
- Define the focus areas for the innovators.
- Commission Lifted Ventures to deliver the accelerator programme.
- Support the development of the application process and communications to promote and position the accelerator.
- Provide ongoing assistance to the innovators through the Innovation Pathway.
- Promote the innovators via communication channels, including introducing them to the NENC Integrated Care Board for potential commissioning opportunities.
For further information about this work, please contact Kirstie Taylor, Women’s Health Programme Lead – [email protected]