Addressing Funding Inequity by Empowering Female Founders in Healthcare with Access to Capital and Resources; with Cash Prizes Over $100K

FAIRFIELD, N.J., Sept. 12, 2024 /PRNewswire/ — The Healthcare Businesswomen’s Association (HBA) is pleased to announce that eight companies have been selected to participate in its first-ever Pitch Competition for Women Innovators, set to take place 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 three percent of venture capital funding goes to female founders, and an even smaller percentage to women of color.  

“We are thrilled to have such high-caliber startups showcase their groundbreaking ideas and solutions during HBA’s inaugural Pitch Competition for Women Innovators. By shining a spotlight on these amazing women-led startups, we hope to build awareness for the urgent need to close the funding gap and drive the future of healthcare forward,” said Mary Stutts, CEO of the HBA. “We are grateful to have so many of our corporate partners and venture fund leaders joining us in this important work to accelerate the impact of women innovators.” 

Promising startups in the healthcare or life sciences sector, with at least 51 percent female ownership, were encouraged to apply to participate in the competition. More than 70 companies applied and following a robust evaluation by a selection committee comprised of healthcare industry leaders, the following companies were chosen to pitch:

“This selection process was tough and highly competitive because we received so many outstanding proposals that illuminated the immense talent and innovation women are bringing to shape the future of healthcare,” said Jim Weiss, Founder and Chairman of Real Chemistry, and long-standing HBA Advisor and advocate for diversity and equality in healthcare entrepreneurship, who led the selection committee for the pitch competition. “Initiatives like this are crucial to closing the funding gap and empowering the next generation of women entrepreneurs who will drive much needed transformative change and impact.”

The judges who will evaluate the pitches and select the winners include:

• William Taranto, President of Merck Global Health Innovation Fund
• William Holmes, Director of Supplier Diversity at Novartis
• Chris Haskell, Head of JLABS at Johnson & Johnson
• Shankar Narayanan, CEO of Real Chemistry
• Dr. Charlotte Owens, SVP and Head of Global Medical Affairs and Outcomes Research at Organon
• Nola Masterson, Venture Partner and Managing Director at Portfolia’s Femtech Fund
• Julie Castro Abrams, CEO at How Women Lead and How Women Invest
• Jessica Karr, Founder and Managing Director at Coyote Ventures
• Ibraheem Alinur, Vice President at 2Flo Ventures

During the competition, each company will have seven minutes to pitch their startup to the panel of judges, followed by five minutes for Q&A. The competition will take place from 1:30 – 3:30 p.m. at the Sheraton Centre Toronto Hotel. The competition will be moderated by Shelley Zalis, CEO of The Female Quotient and livestreamed on LinkedIn.

“OBIO^® is pleased to partner with the HBA on the Pitch Competition for Women Innovators, and we’re especially thrilled to see several Canadian companies take the stage. This exciting opportunity will provide startups with access to capital, resources, and invaluable support to grow their companies,” said Dr. Maura Campbell, President and CEO of OBIO^®.

More than $100K in cash prizes will be awarded to the 1^st place, 2^nd place, and Audience Choice winners collectively. Additionally, the winning companies will be awarded several in-kind prizes from the sponsors of the pitch competition which will be announced during the event, as well as a potential opportunity for an equity investment, pending due diligence. Pitch competition participants and other attendees of the Annual Conference will have the opportunity to meet one on one with key industry venture fund leaders and potential investors and financial advisors at HBA’s Innovation Hub.

The focus on Funding Women Innovators is a key element of this year’s annual conference and will be supported by a special session the morning of the pitch competition, “From Idea to Impact: Funding Women in Health Innovation,” which includes two keynote venture capital panel discussions.

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 more than 85,000 individuals and nearly 150 Corporate Partners. The HBA provides access to industry thought leaders and influencers; educational programs to develop leadership skills; and distinctive global recognition of outstanding individuals and companies to promote visibility of their achievements in advancing gender parity 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. 

SOURCE Healthcare Businesswomen’s Association (HBA)