Her Story: Edition 7
Be inspired and uplifted by Her Story, a weekly series of articles about courageous and powerful women leaders who are living life on their terms.
Hello, Denyse here, and a very warm welcome to We Are Mimosa, a space for ambitious female founders building brands aligned with their purpose and values, and who care about making the world a better place.
How was your week? I hope you've been enjoying the crisp autumn air and the vibrant colours of the changing leaves. I've been busy in my allotment, planting garlic, onions and overwintering peas for next year's harvest - a perfect metaphor for the long-term planning and investment we need in our businesses and our economy.
In today’s edition of Her Story, I’m going to:
Share my thoughts on Monday's UK Investment Summit and why I think it it was a missed opportunity for women entrepreneurs;
Delve into Haeni Kim’s inspirational female founder story;
Shine a light on leading woman, Emma Jarvis, the Femtech entrepreneur who ignited a nationwide movement with a single LinkedIn post;
Reflect on a topical story relating to women;
And share what’s been inspiring me this week. And yes, there will be an allotment reference!
Read: My Summer Business School series on business planning which includes a piece about marketing on a shoestring and my new series on how to build an unforgettable brand.
The £121 Billion Question: Why Femtech Deserves a Spot in UK's Investment Strategy
Today, I want to talk about Monday's UK Investment Summit which brought together 300 leaders from around the world across technology, industry, and investment. As many of you know, bringing opportunity and prosperity to the industrial heartlands ravaged by Thatcher’s de-industrialisation strategy and positioning the UK as a leading green industrial superpower have been key priorities for me, and I was thrilled to see it finally come to fruition.
The summit unveiled a comprehensive 10-year plan aimed at stimulating long-term, sustainable growth in the UK by addressing barriers to investment and creating an environment where businesses can thrive. The strategy aims to drive growth, support Net Zero goals, promote regional development, and enhance economic security and resilience. And it focuses on eight growth-driving sectors:
Advanced Manufacturing, Clean Energy Industries, Creative Industries, Defence, Digital and Technologies, Financial Services, Life Sciences, and Professional and Business Services.
While I wholeheartedly welcome this new Industrial Strategy, I couldn't help but notice a glaring omission - there was no mention of the Femtech industry. For those unfamiliar, Femtech is a market segment that focuses on technology-based products and services for women's health. It's not just a niche market; it's a rapidly growing sector with enormous potential.
In 2021, the global Femtech market was valued at approximately $51.2 billion. By 2030, it's projected to more than double, reaching an estimated worth of $121 billion. These aren't just numbers; they represent a revolution in women's healthcare, an area that has long been neglected.
That said, the UK has been a leader in the Femtech industry, with the number of Femtech companies growing from just nine in 2013 to 58 in 2023. We've attracted $683 million in venture capital investment since 2019, more than any other country in Europe. Initiatives like the Accelerating FemTech project, led by the Health Innovation Network South London, are making significant strides in advancing the Femtech sector.
We have homegrown success stories like Daye, offering monthly subscriptions of sustainable period care products, and Elvie, the maker of connected breastfeeding pumps and pelvic floor trainers. These companies aren’t just businesses; they're pioneers in addressing women's health issues that have been overlooked for far too long.
Yet, despite all the opportunities for improving women's health, Femtech startups still face significant challenges. In 2023, European Femtech startups received only $191 million in funding, a drop in the ocean compared to the broader healthtech industry. Moreover, female-founded Femtech companies consistently raise less capital than similar male-founded companies, highlighting the persistent gender bias in investment.
And this is why I’m so disappointed that we've missed a major opportunity by not explicitly including Femtech in our national investment strategy. This omission is not just a minor oversight; it's a significant misstep with far-reaching consequences. It's not just about economic growth; it's about addressing long-standing disparities in healthcare and empowering half of our population. By overlooking Femtech, we're not just missing out on a lucrative market – we're potentially hindering progress in areas that are crucial for the well-being and equality of women across the UK and beyond.
I'd love to hear your thoughts. Have you had experiences with Femtech products or services? Do you think this sector deserves more attention in our national economic strategy? And if you’re reading this from outside the UK, what attention is the Femtech sector getting where you live? Please share your views!
Female Founder Spotlight
Haeni Kim, founder of the online sustainable brand, KITRI
This week's Female Founder Spotlight shines on Haeni Kim, the visionary behind KITRI, a London-based sustainable fashion brand that's making waves in the industry. Haeni's journey from aspiring ballet dancer to fashion entrepreneur is a testament to the power of diverse experiences in shaping a successful business.
What makes Haeni's story particularly inspiring is her ability to identify and fill a gap in the market. Recognizing the lack of options between high street and high-end fashion, she created KITRI to offer stylish, high-quality pieces at accessible price points. This keen business acumen, combined with her commitment to responsible fashion practices, has resonated strongly with contemporary women seeking both style and sustainability.
Haeni's approach to business is both innovative and responsible. KITRI's direct-to-consumer model, limited production runs, and monthly collections keep the brand fresh and exciting while minimizing waste. Her commitment to sustainability, from using recycled materials to ethical sourcing, demonstrates that fashion can be both stylish and environmentally conscious.
Perhaps most importantly, Haeni has built more than just a clothing brand – she's created a community. KITRI's designs empower women to express their individuality, and the brand's digital-first approach fosters a sense of connection among its customers. Haeni's vision of KITRI as a global lifestyle brand with integrity shows that it's possible to build a successful business while staying true to one's values and making a positive impact on the world. Discover Haeni’s story here.
Shine a light
Which women-built brands do you love and would like to put in the spotlight? Help me to support and uplift amazing businesswomen by sharing the brands you love in the comments box below.
Leading Women
Emma Jarvis, founder of Dearbump
This week, we're shining the spotlight on Emma Jarvis, the Femtech entrepreneur who ignited a nationwide movement with a single LinkedIn post. Emma, founder of Liverpool-based Dearbump, a 'digital midwife' startup, applied for Innovate UK's Women in Innovation Awards, hoping to secure a £75,000 grant to improve maternal health outcomes.
On August 28th, Emma received a rejection email that revealed only 25 grants would be awarded instead of the promised 50. Describing this as "a bit of a gut punch," Emma chose to speak up. She took to LinkedIn, writing, "1,452 female founders applied for the Women in Innovation Award. Only 25 received funding. That means 1,427 female founders are probably feeling pretty disheartened right now."
Her post went viral, attracting hundreds of comments and reposts. Her words resonated with countless female founders, catalysing a movement of nearly 400 people united in addressing the funding gap for female-led businesses.
Emma's actions led to Innovate UK's dramatic U-turn, reinstating the full 50 grants. Her courage in sharing her story not only secured more funding but also sparked a wider conversation about the challenges faced by female entrepreneurs.
Emma Jarvis reminds us that sometimes, all it takes is one voice to make change. Her story inspires us all to speak up, stand together, and fight for the change we want to see in the world of business and beyond.
This week, we’re talking about…
... a near-miss that could have dealt a significant blow to female entrepreneurship in the UK. In August, Innovate UK, a public body part of UK Research and Innovation, made a decision that sent shockwaves through the female tech community. They announced a reduction in funding for their 'Women in Innovation' awards, slashing the number of grants from 50 to 25.
Let that sink in for a moment. At a time when we're fighting to close the gender gap in tech and entrepreneurship, a public body decided to halve its support for women innovators. It's hard to overstate how damaging this could have been.
The impact was immediate. Not only did it drastically reduce opportunities for female founders in an already challenging landscape, but it also dealt a psychological blow to countless women who had pinned their hopes on these grants. Emma Jarvis, founder of Femtech startup Dearbump, aptly described it as "a bit of a gut punch". And she wasn't alone in feeling this way.
But here's where the story takes an inspiring turn. Instead of accepting this setback, Emma (featured above) and other female founders decided to fight back. They launched a social media campaign that quickly snowballed into a movement called 'Let's Fund More Women'. Within days, over 400 campaigners had joined the cause, demanding not just a reversal of the decision, but also a public apology from Innovate UK's CEO.
The pressure worked. Faced with mounting criticism from campaigners, MPs, and the public, Innovate UK did a U-turn. They reinstated the full £4 million investment, committing to fund all 50 awards as originally planned. They admitted their decision was "a mistake" and that they had "prioritised wrongly".
While we can breathe a sigh of relief that Innovate reinstated the funding, this incident serves as a stark reminder of the precarious position of female entrepreneurs in the UK. It highlights how easily hard-won progress can be undermined, often by the very institutions meant to support us.
But it also shows the power of our collective voice. When we stand together, when we refuse to accept setbacks quietly, we can effect real change. The 'Let's Fund More Women' campaign is a testament to what we can achieve when we unite and speak up.
As we celebrate this victory, let's not lose sight of the bigger picture. The funding gap for female-led businesses remains a significant challenge. We need sustained effort and vigilance to ensure that support for women in tech and innovation doesn't just remain steady, but grows.
What are your thoughts on this incident? Have you experienced similar challenges in securing funding or support? Share your stories in the comments below. Remember, every voice adds to our collective strength.
Inspiring Me This Week
This is what’s been providing me with creative inspiration me this week:
Google’s Notebook. I’ve been using it to pull together all my research into female entrepreneurship and it’s proving to be a game-changer!
Rosy Hardy’s YouTube channel. Rosy’s the renowned plants-woman behind Hardy's Cottage Garden Plants, a leading expert on herbaceous perennials and an Hon. Vice President of the RHS.
Riverford Organic’s recipes. I’ve got friends coming for Sunday lunch and I need to find some vegetarian recipes. This squash and harrisa tarte tatin sounds delicious!
I hope you’ve enjoyed this seventh edition of Her Story? I’d love to know what and/ or who has been inspiring and empowering you this week? Share with us here what’s been working for you, what you’re unlearning and what you’re uncovering? I’d love to hear from you in the comments box below.
And, if you enjoyed this post take a moment to “❤️” it and share the love by restacking it.
Until next time!
Denyse
About me
If you’re new to my work, it might be helpful if I explain who I am and what I do!
I’m Denyse Whillier, a former Chief Executive with more than 25 years of business experience under my favourite Sézane belt. I upcycle my skills and experience to provide business mentoring and strategic support, reimagined for female founded businesses.
My mission is simple. It’s to make it easier for women to build thriving brands which are aligned with their purpose and values and to close the gender gap in entrepreneurship, one female founder at a time.
I’ve always worked for organisations with a strong commitment to DEI and was part of the team which led the implementation of the MacPherson Report to address institutional racism in London's public services.
To find out how I can support you on your business journey, check out this link. And if you’d like to know more about the results my clients get, here are some of my case studies.
One-off advice | 3-hour intensive | Ongoing monthly business coaching | Done-for-you business audit