Investments and policies to shape women-led innovations in digital health

In the fast-evolving landscape of digital health innovations, the need for women's representation and leadership is more crucial than ever. According to a recent report by Big Data in 2022, only 4% of investments in Africa were raised by women-led startups. This stark contrast highlights the disparities in funding between male and female entrepreneurs. However, by 2023, there was a promising increase to 7% in funding raised by female-led companies, showcasing a positive trend in the right direction. Despite these improvements, the road to success remains challenging for many women entrepreneurs. Incubation and acceleration programs have proven to be instrumental in helping startups secure funding and build confidence among investors. Unfortunately, many women still shy away from these opportunities, hindering their ability to compete effectively with their male counterparts. To address this issue, it is essential for organizations and investors to create targeted measures and support systems to empower women in the entrepreneurial space. One key aspect emphasized by Immanuel Momanyi, Hub Director at HealthTech Hub Africa, is the importance of intentional efforts in equipping and empowering women to succeed in raising funds and running successful businesses. By creating a conducive environment and offering tailored support, women-led startups can thrive in the competitive digital health sector. Collaboration between government, private investors, and startups is essential in shaping a supportive ecosystem for women's innovations in digital health. Momanyi stresses the significance of developing policies that enable startups to flourish, especially in the highly regulated healthcare sector. By working closely with governments to revamp outdated policies and align regulations with current innovation trends, startups, including women-led enterprises, can benefit from a conducive policy environment. Governments play a vital role in understanding and supporting the needs of startups, while investors bring valuable insights on the impact of policies on investment decisions. The synergy between these stakeholders is crucial in fostering innovation and driving economic growth in the digital health sector. While Africa may not have specific policies targeting women's representation in digital health, examples from countries like Kenya and Rwanda demonstrate efforts to promote gender equity in decision-making bodies. By ensuring women are involved in policy-making processes and innovation development, governments can create inclusive policies that cater to diverse needs and perspectives. Looking ahead, the future of women-led innovations in digital health holds tremendous potential for growth and impact. Successful women entrepreneurs like the founders of Benakia in Kenya, who launched a groundbreaking mobile dialysis service, are paving the way for other women-led startups to thrive in the industry. With continued support from governments, investors, and the broader ecosystem, women entrepreneurs in digital health are poised to compete on a level playing field and drive meaningful change in healthcare innovation.