World Menstrual Hygiene Day: Femtech Startup CEOs Leading Change
This is an excerpted English translation of a Korean-language article originally published by Edaily. Only the section related to Kai Health is included.
On May 28, World Menstrual Hygiene Day, femtech startups led by women CEOs are drawing attention, according to Edaily reporters Hye-mi Kim and Kyung-eun Kim. “Femtech” is a portmanteau of “female” and “technology,” and refers to products and services designed for women using technologies such as artificial intelligence (AI), biotechnology, and advanced materials.
According to the Ministry of SMEs and Startups and the Korea Women Entrepreneurs Association (KWEA), the global femtech market is expected to grow 3.3x—from $29.3 billion (about KRW 40.25 trillion) in 2022 to $97.3 billion (about KRW 133.67 trillion) by 2030. KWEA also plans to launch a new femtech support program next year to help foster the industry, citing goals such as improving women’s quality of life and addressing low birth rates.
Among younger companies founded less than five years ago is Kai Health, which launched Korea’s first AI-based solution addressing infertility with its product Vita Embryo.
Kai Health was founded by CEO Hyejun Lee, who trained as an obstetrician and gynecologist specializing in infertility. After graduating from Seoul National University College of Medicine and completing her OB-GYN residency, she worked at a fertility specialty hospital, earned an MBA in the United States, supported U.S. companies entering Korea, and then entered the startup arena herself. She has said that the most important goal in infertility treatment is achieving pregnancy. Vita Embryo is a medical device that analyzes embryos generated during fertility procedures and supports the selection of embryos with a higher likelihood of pregnancy, helping reduce the time and cost to pregnancy.
Vita Embryo has obtained medical device certifications in Europe, Singapore, and India, and was designated as a Class III medical device by Korea’s Ministry of Food and Drug Safety in January this year. Kai Health is also preparing to enter the U.S. market, with the goal of obtaining FDA approval next year. Lee said, “Building on technology that helps select good embryos, Kai Health is also focusing on research to improve embryo quality, and plans to expand R&D into healthcare solutions that support women’s health across the full life course, including pregnancy and birth preparation and contraception.”
Chang-sook Park, Chairwoman of KWEA, said, “We are continuously communicating to the government and the National Assembly the importance and urgency of the femtech industry to secure budget support,” adding, “We are working to highlight the need to foster the industry by identifying promising femtech companies and promoting their cases.”
Source: Edaily · By Hye-mi Kim and Kyung-eun Kim · Originally published in Korean · English translation