What Drives Front-End Innovation in Fem-Tech Startups? Insights from a Quantitative Study.

The fem-tech sector is still nascent and estimated to reach $103 billion by 2030. It is likely to incorporate all themes related to women's health and technology. In this sector, startups are growing amidst competition to stay relevant; nevertheless, their mortality rate is very high. This study identifies the factors that drive front-end innovation in fem-tech startups for their successful product development. We conducted a national-level survey to collect the views of various fem-tech stakeholders for empirical investigation, and the data were validated using Partial Least Square Structural Equation Modeling (PLS-SEM.) The Standardized Root Mean Square Residual (SRMR) was below 0.07, and the Normed Fit Index (NFI) was closer to 0.9, indicating a good model fit. The factors' path model implies a successful fem-tech product development direction. It contributes to the literature on successful health venture creation and offers recommendations to sectoral stakeholders.