Fierce Foundry, the first FemTech Venture Studio in New York, proudly announces the launch of its studio devoted to supporting female founders within the rapidly growing FemTech industry. This new Venture Studio, with a mission to close the gap between women’s healthcare and the inequality in VC financing for female founders, will co-found FemTech businesses from idea to exit.
Melissa Wallace, Fierce Foundry’s Founder and CEO, said: “Fierce Foundry has a mission to break down barriers and redefine FemTech entrepreneurship. We are also committed to investing in women and the economy.” “By cofounding companies led and founded by strong female founders we will unleash the potential of innovation for women’s health, wellness, and wellbeing.” This will ultimately lead to more exits and, in turn, more investment in women, both female founders and those who benefit from their products.
In recent years, the FemTech industry has experienced exponential growth. Fierce Foundry defines FemTech as “technology for women’s health, wellness, and the people who are part of their lives”, encompassing technologies that address women’s needs. The representation of female entrepreneurs is still disproportionately low. According to McKinsey & Company’s recent studies, only 1.9% venture capital funding will go to female-founded startup companies in 2023. This is despite the fact that women make up 40% of entrepreneurs worldwide.
Fierce Foundry is led by a team of visionary leaders and industry veterans who are committed to promoting diversity and inclusion. The team has decades of experience in venture capitalism, technology, and health care. They bring a wealth of expertise and a passion for driving change in the FemTech eco-system. Fierce Foundry includes members of the FemHealth Founders team, which was recently shut down. This innovation hub was focused on empowering women founders to build and run profitable, women-centric businesses that offer solutions to women’s healthcare-related issues.
This exceptional coalition, under the umbrella of Fierce Foundry is bringing their experience, mission, and vision to bear to move the needle in favor of female FemTech entrepreneurs. Fierce Foundry, in line with its commitment to female founders and funders, hosted the Female Founders and Funders event. The event was a huge success for all attendees. The venture studio hosted the NY Tech Week FemHack hackathon. The result was impressive: seven teams, each with an impressive product. The panel of Katie Dunn and Katie Schuele, Jade Kearney Christine Hong and Laura Hamilton evaluated results. Team Gently came in second, followed by Team Theia. The other five teams were equally impressive.
Sponsors included Fembuild Collective. Ellevoy, NY Post. Tip Top Cocktails. Monarch. For more information about Fierce Foundry and its upcoming events, visit our website www.thefiercefoundry.com.
Fierce Foundry
6 Mountain Way s
West Orange, NJ 07052
Media Contact: Lauren Banyar Reich
Email: lreich@lbrpr.com
About Fierce Foundry
Fierce Foundry, a pioneering venture studio, is dedicated to supporting and scaling up women-led startups in the FemTech sector (female technologies). Our mission is empower female founders through the provision of resources, mentorship and capital. We envision an inclusive entrepreneurial ecosystem, where women can thrive. They will then reinvest into other women-led businesses, creating a cycle of growth.
Fierce Foundry’s studio model is different from traditional venture capital, which invests in a portfolio. Our model develops ideas internally and matches them with the best founders. It then builds and launches these ideas through a four-stage structured process. Fierce Foundry, founded by Melissa Wallace aims to bridge a significant funding gap for female entrepreneurs using this unique studio model.
This release has been published on openPR.