Flat6Labs and Organon, a healthcare firm, have teamed up to launch the Femtech Accelerator Programme. This programme supports female-founded digital health companies in the Middle East and North Africa (MENA), by helping them to develop products, test market fit, and improve business models.
Organon, a global healthcare company, was formed by a Merck spinoff, also known as MSD outside the United States and Canada. It focuses on improving women’s health throughout their lives.
Flat6Labs is the MENA’s most prominent seed and early-stage venture capital company. It was founded in Cairo in 2011. They have teamed up to create the Femtech Accelerator Programme. The partnership was signed at Expo 2020, USA Pavilion. This marked the launch of Organon in North Africa, the Middle East and Turkey.
Following a selection process, ten companies will be invited into the intensive two-month program. They will receive support in developing their idea into a Minimum Viable Product and securing venture financing.
Flat6labs provides technical and business training, as well as access to regional and local partner networks. Participants will have access to big data and opportunities, as well as connections with local and international experts. Organon will also mentor the participants and connect them to industry experts from around the world. They also provide access and support to their entire business network including external partners and internal teams.
“As a regional healthcare organization with a strong commitment to improving the health of women in the region, we are excited to launch this program supporting female entrepreneurs. We are aware that investing in women can have far-reaching consequences, reaping benefits for families, communities and economies. Organon’s chief commercial officer Susanne Fiedler stated that she will continue to listen and find the best solutions to make every day better for women.
Flat6labs’ chief investment officer Dina El-Shenoufy stated that the current startup landscape was male-dominated, as well as the healthcare industry.
We must do more to help female entrepreneurs and improve women’s health care if we want to achieve gender equality. She stated that the newly launched femtech acceleration will address this need as well as the demand for greater digital innovation in healthcare. It also demonstrates the importance of collaboration across industries to support the goals of female economic empowerment.