Factors of front-end innovation in fem-tech startups: An empirical study

Abstract

The nascent fem-tech sector, estimated to reach $103 billion by 2030, represents a transformative intersection of women's health and technology. One of the important players within the ecosystem, fem-tech startups are continuously innovating and trying to sustain themselves. However, the sector is characterized by intense competition and a notably high mortality rate among startups. This study attempts to find what drives front-end innovation in the fem-tech startups. We conducted a national-level survey, capturing the perspectives of diverse fem-tech stakeholders. The collected data was validated using Partial Least Square Structural Equation Modeling (PLS-SEM). The findings underline the central role of entrepreneurial orientation in propelling front-end innovation in fem-tech startups, encompassing dimensions like process, practice, and decision-making activities. Intellectual capital significantly shapes the entrepreneurial trajectory. Establishing symbiotic partnerships and cultivating relationships with key stakeholders are pivotal strategies for fostering human and organizational capital development. These factors collectively form a path model that offers insights into the direction of successful fem-tech product development. The study contributes to the emerging literature on successful health-tech entrepreneurship and also provides practice recommendations to the sectoral stakeholders.