The Femtech Accelerator Program, launched by Organon and Flat6Labs, aims to help female-founded digital health start-ups in the Middle East and North Africa (MENA) flourish by assisting them in developing products, determining market fit, and improving business models.
Organon, a global healthcare company with the mission of making every woman’s day better and healthier, has launched the Femtech Accelerator Program in partnership with Flat6Labs, the MENA region’s leading seed, and early-stage venture capital firm, to support female-led start-ups in the digital healthcare space.
The agreement was inked in the USA Pavilion at Expo 2020, marking the beginning of Organon’s presence in the Middle East, North Africa, and Turkey.
The relationship is the first step toward the company’s goal of collaborating closely with regional partners to support innovative women’s healthcare programs.
“As a new regional healthcare institution with a commitment to enhancing the health of women in our region, we are extremely excited to establish this program supporting female entrepreneurs,” Susanne Fiedler, Chief Commercial Officer of Organon, said of the program. We know that investing in women has far-reaching ramifications for families, communities, and economies locally and nationally. We’ll keep listening to women’s needs to better understand the gaps and provide the correct answers so she can live a better and healthier lives every day.”
“COVID-19 has pushed digital transformation across industries, including healthcare,” said Ramy Koussa, Associate Vice President of Organon MENAT. Due to limits on our movements and the strain on healthcare services throughout the world, digital transformation has proven to be an important instrument for both coronavirus management and preserving crucial healthcare services. The future of healthcare is digital, and this accelerator program was established to help our region make that transition by providing new and creative digital technologies to improve women’s healthcare. Organon is committed to establishing a firm based on ESG principles, and today’s announcement marks a significant step forward in our commitment to working in conjunction with key stakeholders across MENAT to enhance women’s health.”
“Globally, both the current start-up ecosystem as well as the healthcare industry are male-dominated spaces,” Dina El-Shenoufy, Chief Investment Officer of Flat6labs, remarked. We must do more to encourage female entrepreneurs and advance women’s healthcare if we are to achieve greater gender parity while supporting economic development across MENA. Our newly created Femtech accelerator will address this need, as well as the need for more digital innovation in the healthcare area while showcasing the value of cross-industry collaboration in advancing female economic empowerment goals.”
Female-founded start-ups will be selected for the accelerator program, and they must demonstrate that they can meet unmet women’s needs, in line with Organon’s aim to enhance women’s health. Following a selection process, ten of the finest start-ups will be chosen to attend the two-month intense accelerator program, where they will receive assistance in developing a Minimum Viable Product (MVP) and acquiring venture capital.
Flat6labs will offer technical and business training, as well as access to their local and regional partner networks. Participating start-ups will be connected to local and international firms, as well as have access to big data and new prospects. Meanwhile, Organon will provide mentorship, connect participants with global industry experts, and provide them access to their complete business network, including internal teams and external partners.