The government is seeking out ways to support "femtech" startups as more businesses see the intersection of technology and female health as an opportunity to tap into new areas of growth.
In June, the Ministry of Economy, Trade and Industry chose 20 femtech companies for a combined subsidy of ¥150 million ($1.4 million) to help them develop products and services that can help women cope with issues such as menstruation, pregnancy, infertility treatment and menopause.
The global market for technology geared toward women is projected to reach $60 billion in 2027, up from about $19 billion in 2019, according to Emergen Research. By addressing challenges for women’s health, which had for years been viewed as taboo in Japan, the government’s goal is to prevent women from giving up their careers. Improving women’s health will result in an annual economic impact of ¥2 trillion by 2025, according to the ministry.