WoW Woman in FemTech | Megan Capriccio, co-founder of FemTech Collective (Australia)

Interview by MarijaButkovic

Megan Capriccio is the co-founder of the FemTech Collective in Australia. As an entrepreneur, product manager, and business consultant, Megan has dedicated her career to ensuring that women have more control over their realities by working for and with women in a variety of fields. From researching the role of women on the international stage at the University of Sydney to establishing a tequila company that empowers and celebrates women in the wine and spirits industry, to launching the FemTech Collective in Sydney, Megan's various roles have gained her recognition as a champion for positive change for women, their education, and careers. She is currently working with and consulting for FemTech companies, investors, and partners across Australia and the US to grow the ecosystem, offer additional support for women to manage their health with the help of technology, and to re-educate the public on how healthy women create a healthy society.

Megan, tell us a bit about your background and your projects so far.

Oh gosh, this question is always intimidating. I have quite an eclectic background. 

Before moving to Australia, my brother and I started Vikera Tequila, a tequila company that celebrates and supports women in the wine and spirits industry. We knew we wanted to create a social impact company and combined it with our family’s 50+ year history in the industry.

I then studied and conducted my master’s research in International Relations focusing on the effects on women. I was frustrated with the fact that if most countries are run by men, how will women, let alone women’s health, ever be a priority or treated properly. I soon realized the great impact technology and innovation advancements can make in women’s health, which is how I found FemTech.

I have since, Co-Founded FemTech Collective in Australia. Our main priority at this stage is to better situate ourselves to support the growth of the FemTech industry in Australia. The next 6-12 months will be focused on strategic fundraising offerings, mentorship programs, and continuing to bring awareness to the community and industry.

How did you get into this industry? Has it been an easy industry to get into or have you had many challenges?

The difficult part was finding FemTech along my journey. I tossed up a plethora of possibilities but knew once I found FemTech that it was something I was very enthusiastic about seeing through. Nicole Dahlstrom, CEO & Founder of FemTech Collective, has been very supportive of me leading the charge to expand to Australia. But to be frank, the first 12 months have really been an information-gathering exercise.

What was particularly challenging is there wasn’t much data or market reports about FemTech in Australia. Often, Australia is completely overlooked in FemTech market reports and I wanted to change this to show that Australia has the ecosystem to be a key player globally. Continuously building the Australian community has proven to be successful, but also we plan to create our own market reports specifically for the Australian context, trends, etc.

There is plenty of interest in FemTech in Australia, but also plenty of room for education and inciting innovation in the space.

What does your current job role entail?

A little bit of everything. I’m wearing multiple hats each day of the week.

One day I might be consulting on strategy for Aussie-based FemTech companies, other days I’m doing exhaustive research of FemTech companies and products, and even other days I might be producing content or speaking on a panel for the FemTech community.

Ultimately, I want to see the FemTech industry succeed in Australia and globally. Therefore, I am always thinking of the most effective projects to make that happen. This often means I’m learning on the fly and saying yes even before I might be ready.

Until quite recently, I did not have a team in Australia. This meant I was doing and learning about all facets of the organization, but also meant my time was taken up by everything from data entry to high-level strategy. Now that I have a small team, I am able to engage with the FemTech market with a big picture approach. On the grand scheme of things, we still function like a startup, but now I am able to use the information I’ve gathered over the last year and put it into good practice.

What projects are you working on at the moment?

I’m really excited about the projects we’re working on at the moment. In mid-July 2020, we surveyed the Australian FemTech community and found that the key needs were mentorships, fundraising, and networking. Fundraising is an ongoing need, but even more so during COVID. The same goes for mentorships and networking, members are wanting to connect with the community but finding it difficult to do so in their siloed work from home offices.

Therefore, I have partnered with some key investor groups to really drive capital and resources to the FemTech industry. I help Founders perfect their pitch decks and business plans, knowing what the investors are after, and then assist with the formal introduction and pitch. Being the liaison between the two stakeholders has proven effective so far, and I hope we see an uptick in funding for Aussie FemTech companies.

Secondly, professionals in the FemTech space are thriving for connection during COVID. In response, we plan to launch a monthly virtual networking program in October to create more synergy and community among the Aussie FemTech landscape. We want these to be informal conversations that help spread new ideas as well as create collaborations.

Lastly, next year we plan to launch a formal mentorship program. We wanted this to be different than traditional mentorship matches. We’re looking at designing a 3-month program with a guiding curriculum that helps individuals navigate their careers in FemTech with the help of a mentor.

These projects are all targeted to the Australian landscape but happy to extend our offerings to the community globally.

How long did it take you to be where you are now?

My whole life (nervously laughs). As I hinted previously, it took a long time to figure out that this was the industry for me. I think it’s difficult to find a passion and line that up with your skillset. I think I’m just now getting the hang of things but still have so much to learn. And I’m sure this will be the continuous trajectory as my career progresses.

What was the biggest obstacle?

Common to terms that I can’t do everything or solve every societal problem. I set out on my career wanting to make a positive societal impact, but there are too many issues that need attention. I thought being a good activist and ally meant I had to have my hand in all of them.

It took me a long time and an abundance of moral strife to understand that to be effective, I have to invest myself wholeheartedly into one area. Growing the FemTech industry and supporting the professionals in the women’s health tech space has not only taught me so much but allowed me to contribute to something bigger than myself.

What are your biggest achievements to date?

The biggest achievement to date for FemTech Collective Australia is establishing a reputation as the go-to resource for the female-focused health ecosystem in Australia. The industry in Australia still has room for growth, but key players in the space know that the FemTech Collective is the catalyst for FemTech success.

What does the #WomenInTech movement mean to you? What are the challenges of being a woman in femtech?

The women in tech movement is empowering, revolutionary, and changing the future of women’s roles in society. With more women in the room, technology will evolve to better suit women as key users with experiences to be considered.

Being a woman in FemTech specifically is unlike any other industry I’ve worked in. The immense willingness to collaborate for the greater impact of women’s health is abundant and unwavering. It provides evidence firsthand what women can do when they lift each other up.

In your opinion, what will be the key trends in the femtech industry in the next 5 years and where do you see it heading?

I think FemTech will continue to develop granular tools for specific community groups. As medical research progresses, not only are we finding that women experience health differently than men, but also women of varying ethnic backgrounds, communities, and history are experiencing health very differently.

As this research progresses, innovators will strive to create tools that speak to the user's dynamic experience and background to better manage health to their specific journey.

Who are your 3 inspirational women and/or businesses in femtech?

It’s hard for me to just pick 3, but I’ll give it a go. 

My most recent FemTech fan girl moment was being introduced to Dr. Michelle Perugini from Life Whisperer, an AI-enhanced fertility solution. Michelle has created a revolutionary product in Life Whisperer and I can’t wait to see how they progress.

I have great admiration for the team over at the Portfolio FemTech Fund. I think the work they are doing is greatly needed as the industry develops and I hope more investors follow suit.

I’m also just daily inspired by the companies and leaders across the FemTech space who have formed an alliance to assist each other and collaborate with the greater goal of pushing the global FemTech industry forward: FemTech Insider, FemTech Focus, FemTech Collective, Women of Wearables, Fermata, Future of FemTech, and more.

Connect with Megan on LinkedIn!

Website: FemTech Collective

This interview was conducted by Marija Butkovic, Digital Marketing and PR strategist, founder and CEO of Women of Wearables. She regularly writes and speaks on topics of wearable tech, fashion tech, IoT, entrepreneurship and diversity. Follow Marija on Twitter @MarijaButkovic.