In recent years, we’ve witnessed a surge in investment in women’s health, an area long neglected by both the medical and financial sectors. Startups like Maven Clinic, which just secured a $1.7 billion valuation, are attracting significant venture capital, shining a light on the once overlooked realm of women’s healthcare.
On one hand, it’s exciting to see female-focused healthcare innovations finally getting the attention - and the funding - they deserve. But there’s a glaring contradiction at play: while women’s health is being heralded as a critical sector in healthcare innovation, the bulk of the money being made off of these advancements is flowing into the pockets of male investors, given that the venture capital world remains overwhelmingly male-dominated.
While women’s health is being heralded as a critical sector in healthcare innovation, the bulk of the money being made off of these advancements is flowing into the pockets of male investors.
As women, how should we feel about the fact that men are now making millions, perhaps billions, off innovations targeting the female body - an area they will never fully understand from lived experience, and that they have neglected and dominated for centuries? And from a feminist perspective, what does this mean for the future of ownership and control over female healthcare?
A Step Forward, but Who Really Benefits?
There’s no doubt that women’s healthcare deserves the spotlight it’s finally getting. For far too long, conditions like endometriosis, menopause, and maternal health have been underfunded and under-researched. The “male as default” approach in clinical trials has left countless women without adequate treatment options, forced to navigate healthcare systems that fail to recognise the complexities of female biology.
The fact that more money is being poured into these areas can be seen as a win for women. But it’s a complicated victory. Because, while it’s empowering to see companies like Maven Clinic providing much-needed services to women, the financial success of these companies is largely enriching men. With over 90% of venture capital controlled by men, male investors are the primary beneficiaries of the economic boom surrounding women’s health.
The fact that more money is being poured into these areas can be seen as a win for women. But it’s a complicated victory... With over 90% of venture capital controlled by men, male investors are the primary beneficiaries of the economic boom surrounding women’s health.
From a feminist perspective, it’s hard not to feel conflicted. On one hand, these innovations are crucial for improving the lives of women everywhere. On the other, they highlight the persistent power imbalance in how wealth, and ultimately control, is distributed in society.
Should men be the ones profiting from healthcare solutions designed to address female-specific challenges, when they are unlikely to ever experience these challenges firsthand? Is it fair for women to rely on a male-dominated industry to determine what our bodies need, and who benefits from those decisions?
The Issue of Ownership Over the Female Body
When men control the majority of the capital flowing into female healthcare, there’s an undeniable shift in who owns the narrative - and, by extension, the solutions -surrounding women’s bodies. Historically, women have struggled to gain autonomy over their health and reproductive rights, and now, even as progress is being made in healthcare innovations, the question of who owns the female body looms large.
The capitalist drive behind these investments means that many of the decisions regarding which innovations get funded, which products make it to market, and what research is prioritised are still largely made by men. While these innovations are ultimately designed to benefit women, the fact that men hold the majority of financial power over female healthcare raises critical questions about autonomy. Are women really gaining more control over their bodies if the solutions to their health problems are being developed, funded, and monetised by male-dominated industries?
Many of the decisions regarding which innovations get funded, which products make it to market, and what research is prioritised are still largely made by men.
There’s also the issue of representation in decision-making. If men are making the bulk of investment decisions about women’s health, can we be sure that the most pressing needs of women are being fully understood and addressed? For example, will healthcare innovations that primarily impact marginalised women - women of colour, LGBTQ+ women, or those in lower socioeconomic groups - get the same attention as innovations that have mass-market appeal?
The Potential for Change
It’s not all doom and gloom, though. The increased investment in women’s health means that more women than ever are stepping into leadership roles within healthcare startups. Founders like Kate Ryder of Maven Clinic are not only driving innovation but also redefining what women’s healthcare can look like. Women like Ryder understand firsthand the challenges women face when it comes to healthcare, and they’re working to create solutions that reflect those lived experiences.
However, there’s still a long way to go in terms of shifting the power dynamics within the venture capital world. For real change to happen, we need more women on the other side of the table - as investors, funders, and decision-makers. Female-founded venture capital firms, like Female Founders Fund or All Raise, are making strides to invest in women’s healthcare and put more women in control of how their bodies are treated by the healthcare system.
The feminist movement has always been about giving women control over their own bodies, and in today’s landscape, that extends to control over the innovations and economic structures that shape our healthcare. Until women have equal footing in the investment space, there will continue to be an imbalance in how the wealth and power tied to women’s healthcare are distributed.
A Feminist Call to Action
So how should we feel about the fact that men are profiting from female healthcare innovations? It’s a complex issue. On one hand, it’s undeniably positive that women’s health is being recognised as a critical sector, finally receiving the funding and attention it’s long deserved. On the other hand, the fact that men are profiting from these innovations raises significant questions about autonomy, control, and representation.
From a feminist perspective, it’s not enough for women’s healthcare to be funded and advanced - we need to ensure that women are also benefiting from these advancements economically and socially.
From a feminist perspective, it’s not enough for women’s healthcare to be funded and advanced - we need to ensure that women are also benefiting from these advancements economically and socially. Women must have a seat at the table where these financial and medical decisions are being made. That means supporting female entrepreneurs, encouraging more women to enter the venture capital space, and pushing for systemic changes that ensure women aren’t just the recipients of healthcare solutions, but the architects of them.
The goal should be to shift from a system where men profit off of women’s bodies to one where women have ownership - over their health, their bodies, and the financial gains that come with these innovations. Until then, the fight for true equality in women’s healthcare remains unfinished.
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