Funding success for Accelerating FemTech companies

In 2023, the Health Innovation Network (HIN) South London and DigitalHealth.London launched a new initiative, Accelerating FemTech. The programme, utilising Innovate UK funding as part of the Biomedical Catalyst, in collaboration with the Medical Research Council, set out to support innovators focused on addressing key challenges in women’s health. Participating companies also prepared for a special closed call funding opportunity through the Innovate UK Biomedical Catalyst. The fund supports organisations to complete feasibilities studies, helping to drive new innovations to make impactful change.

10 companies from the first cohort of Accelerating FemTech have since been awarded a share of over £3m through the Biomedical Catalyst. Their successful projects focus on a range of women’s health problems, including menstruation management, maternity and neonatal safety, as well as cervical screening. Among the successful companies is IBEX Innovations Ltd, who are revolutionising bone health for post-menopausal women. Currently, an estimated 80% of osteoporosis cases go undetected due to inadequate screening and prolonged waiting times for bone density scans (DXA). IBEX’s innovative detection software, IBEX Bone Health, can be integrated into routine breast cancer screening programmes, facilitating early detection and diagnosis of osteoporosis.

Another funded company, Joii Ltd, are transforming patient management of heavy menstrual bleeding. One in three women experience heavy menstrual bleeding, yet many struggle to secure a diagnosis and deal with debilitating pain. By using artificial intelligence (AI), Joii empowers people who menstruate to track their period symptoms and utilise latest scientific insights to enhance their understanding of gynaecological health.

The Accelerating FemTech alumni are also addressing other important women’s health issues, including chronic pelvic pain, urinary tract infections and the pre-operative preparation of breast cancer patients.

The innovation shown by the organisations that took part in all four accelerators was incredible. The feasibility studies being funded will help improve the lives of so many people and create commercially viable businesses.

Samana Brannigan
Health of Health Technologies at Innovate UK

The diversity of issues addressed by these projects highlights the growing need for innovation to improve outcomes for women living with ill health and disability. It also underscores the significance of programmes like Accelerating FemTech that support innovators in this space. Notably, 100% of the first cohort of companies expressed their willingness to repeat the programme. They emphasised that conversations with experts provided valuable insights for developing their projects and businesses, expanding their networks, and ultimately equipping them for their Biomedical Catalyst application.

I am so pleased to be able to share the celebrations of 10 Accelerating FemTech companies, who will receive Biomedical Catalyst funding to develop their fantastic solutions to real women’s health problems in the UK today. This success reflects the companies’ hard work and dedication throughout the Accelerating FemTech Accelerator programme, which was led by the HIN.

Our experienced Accelerator team, as well as partners from across the country, worked tirelessly to support these innovators, from workshops and mentoring sessions to tailored support for their Biomedical Catalyst applications. I hope the funding will allow these companies to develop evidence, leading to faster, safer and more convenient care for all women.

Sara Nelson
Programme Director at DigitalHealth.London

Building on the success of the pilot, the 10 week Accelerating FemTech programme will return later this year, expanding its offerings. Applications will now be open to small to medium sized enterprises (SMEs), university spin-outs and academics focused on women’s health challenges. Innovators will benefit from targeted workshops, bespoke mentoring and Biomedical Catalyst funding preparation. The programme aims to enhance product development, entrepreneurship skills and stakeholder engagement across the NHS and academia.

We look forward to welcoming applications from innovators for the next cohort of Accelerating FemTech, which we are announcing soon. Register to find out more about the programme and to be informed when applications open.

Sara Nelson
Programme Director of DigitalHealth.London

For more information about Accelerating FemTech and to register your interest, please visit: healthinnovationnetwork.com/projects/accelerating-femtech

The full list of FemTech projects that have gained Innovate UK Biomedical Catalyst funding can be found here: iuk.ktn-uk.org/news/3-2m-funding-awarded-to-advance-early-stage-healthcare-innovation