Fierce Foundry Pioneers FemTech Venture Studio Laser-Focused On Propelling Female Founders to Next Level Success
Industry Vets Back Studio Model to Mobilize Women Entrepreneurs
New York, June 14, 2024 -- Fierce Foundry proudly announces its launch as the first-ever FemTech Venture Studio centered on supporting female founders in the rapidly expanding FemTech industry. With a mission to solve the inequality in VC funding for female founders and the gap in women’s healthcare, this new Venture Studio will co-found FemTech companies from idea to exit.
"Fierce Foundry is on a mission to shatter barriers and redefine the landscape of FemTech entrepreneurship and further investment in all women and the economy," says Melissa Wallace, Founder and CEO of Fierce Foundry. "By co-founding companies led by strong female founders, we will unleash the full potential of innovation in women's health and wellness. Ultimately, this will drive more exits, and in turn more investment in women - female founders and the individuals who benefit from the products they build - worldwide."
The FemTech industry, defined by Fierce Foundry as “technology for the health and wellness of women and the people in their lives,” encompassing technologies addressing women's health and wellness needs, has witnessed exponential growth in recent years. Yet the representation of female founders remains disproportionately low. According to recent studies by McKinsey & Company, only 1.9% of VC venture capital funding went to female-founded startups in 2023, despite women making up 40% of all entrepreneurs globally.
At the helm of Fierce Foundry is a star-studded team of industry veterans and visionary leaders committed to championing diversity and inclusion in entrepreneurship. With decades of combined experience in venture capital, technology, and healthcare, the team brings unparalleled expertise and a shared passion for driving meaningful change in the FemTech ecosystem. What’s more, Fierce Foundry now includes team members behind the recently sunsetted FemHealth Founders, an innovation hub focused on empowering female founders in the Heartland to build and lead profitable, women-centric companies offering solutions to women’s health-related issues.
Under the umbrella of Fierce Foundry, this exceptional coalition is bringing to bear the full weight of their experience, mission and vision to move the needle for female FemTech founders. In line with its commitment, Fierce Foundry hosted the Female Founders & Funders event which had a great turn out and was an exceptional networking experience for all who came. The venture studio also hosted the NY Tech Week FemHack Hackathon. The outcome was impressive - seven teams each with a powerful product. The panel, including Katie Dunn, Katie Schuele, Lauren Reeves, Jade Kearney, Christine Hong, and Laura Hamilton evaluated the results. Team Theia emerged as first-place winners, followed by Team Gently. The remaining five teams were no less remarkable.
Sponsors included Fembuild Collective, Ellevoy, NY Post, Tip Top Cocktails, Monarch and more. For more information about Fierce Foundry and its upcoming events, visit our website www.thefiercefoundry.com or follow us on LinkedIn, Instagram or TikTok.
Media Contact: Lauren Banyar Reich Email: lreich@lbrpr.com
About Fierce Foundry
Fierce Foundry is a pioneering venture studio dedicated to supporting and scaling women-led startups, particularly in the FemTech (female technology) sector. Our mission is to empower female founders by providing them with the necessary resources, mentorship, and capital to succeed. We envision a more inclusive entrepreneurial ecosystem where women can thrive and subsequently reinvest in other women-led ventures, fostering a cycle of growth and change.
The studio model at Fierce Foundry differs from traditional venture capital approaches that simply invests in a portfolio of startups. Instead, our model actively develops ideas internally, matches them with the right founders, and builds and launches them through a structured four-stage process. Founded by Melissa Wallace, Fierce Foundry aims to bridge the significant funding gap faced by female entrepreneurs by leveraging this unique studio model