Addressing Funding Inequity by Empowering
Female Founders in Healthcare with Access to Capital and
Resources
FAIRFIELD, N.J., June 28,
2024 /PRNewswire/ -- The Healthcare
Businesswomen's Association (HBA) is pleased to announce the launch
of its first-ever Pitch Competition for Women Innovators, set
to take place on 25 September, during the 2024 HBA Annual
Conference in Toronto, Canada.
This groundbreaking event aims to address the significant funding
gap faced by women entrepreneurs in healthcare and life sciences,
where only 3 percent of venture capital funding goes to female
founders, and an even smaller percentage to women of color.
"We are thrilled to host our first Pitch Competition for Women
Innovators. By providing a platform for women-led startups to
showcase their groundbreaking ideas and solutions, the HBA aims to
close the funding gap and drive the future of healthcare forward,"
said Mary Stutts, CEO of the HBA.
"We are pleased that our corporate partners and venture fund
leaders are joining us to accelerate the impact of women
innovators."
Adding a wealth of experience as a longtime life sciences
investor, the pitch competition will be emceed by HBA's 2022 Woman
of the Year, Beth Seidenberg, M.D.,
Co-founding Managing Director of Westlake Village BioPartners and
General Partner at Kleiner Perkins.
"We are delighted to partner with the Healthcare Businesswomen's
Association (HBA) in the important work of supporting women
innovators in health & life sciences," said Dr. Maura Campbell, President & CEO of
OBIO®. "The HBA specializes in advancing women in the
business of healthcare, and OBIO® provides comprehensive
supports to companies commercializing their technologies in this
industry. We are very proud of what we have achieved through our
Women in Health Initiative (WiHI) Seed Program, and this new
partnership combines the strengths of both organizations, giving us
a collective opportunity to strengthen support for women
entrepreneurs in the healthcare and life sciences sectors."
Promising startups in the healthcare or life sciences sector,
with at least 51 percent female ownership, are encouraged to apply
to participate in the competition. Early-stage companies that have
raised between $2M and $5M in capital, and later-stage companies that
have raised over $5M in private
capital are eligible to participate. Cash prizes up to
$100K will be awarded to the winning
pitches with additional prizes to 2nd place and an
Audience Choice winner. Additionally, there is a potential
opportunity for companies to secure an equity investment, pending
due diligence. Pitch competition participants will have access to
HBA's Innovation Hub and can meet with key industry venture fund
leaders and potential investors and financial advisors.
Application Details
Applications for the opportunity
to pitch are currently open; the deadline to apply is 21 July 2024, and there is a non-refundable fee
of $200 to apply. To be eligible,
companies must be a private legal entity, and a high-potential
health science company focused on developing innovative products or
services. A complete list of eligibility requirements can be found
on the pitch competition website. All pitches received by the
deadline will be reviewed by an esteemed panel of judges, comprised
of individuals from venture capital and corporate venture entities.
Applicants will be notified in early August if their pitch is
chosen to be part of the competition in Toronto on 25 September 2024.
About the Healthcare Businesswomen's Association
(HBA):
The Healthcare Businesswomen's Association (HBA) is a
global organization dedicated to furthering the advancement and
impact of women in the business of healthcare. With more than 80
locations throughout the world, the HBA serves a community of
nearly 150 Corporate Partners, representing a workforce of five
million employees. The HBA is focused on advancing women's wellness
and health equity, funding women's innovation, and building the
pipeline for the health ecosystem workforce of the future. The
HBA also provides distinctive global recognition of outstanding
individuals and companies to promote visibility of their
achievements in advancing women in the workplace.
About OBIO®:
Founded in 2009,
OBIO® is a not-for-profit, membership-based organization
engaged in strategy, programming, policy development and advocacy
to further the commercialization of human health technologies that
position Canada as a leader in the
international marketplace. OBIO® advances this goal
through collaborative partnerships with industry, the investment
community, academia, the healthcare system and government. For more
information, please visit obio.ca and follow
OBIO® on LinkedIn and X.
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SOURCE Healthcare Businesswomen's Association (HBA)