Boost for Mexico’s fast-growing femtech sector

Amid a growing number of startups and home-grown ‘unicorns’, Mexico’s femtech community now has its own representative body.

FemTech.Mx has been launched as Mexico’s first femtech association; led by Mexican entrepreneur Mayra Hurtado, CEO and co-founder of hormonal health firm Hormony, and Jazna Stannard, former director of the health and wellness tech accelerator, Well4Tech.

FemTech has seen exponential growth in recent years, with estimates suggesting that the industry will reach a valuation of US$20.59B by 2030, representing a compound annual growth rate of 17.4%. The World Economic Forum and McKinsey both state that improving women’s health presents the largest economic growth opportunity.

Mexico reportedly has the second-fastest growing startup ecosystem in Latin America and is home to eight billion-dollar ‘unicorns’. By connecting startups, researchers and healthcare professionals with global markets and fostering partnerships to drive women’s health innovation, it is hoped that FemTech.Mx will promote collaboration both in Mexico and internationally to work towards closing the gender health gap.

Its board of advisors includes Mauricio Milán from Ilum Ventures; Silvia Guadalupe Medina García, Director of the International Business Programme at TEC de Monterrey; Gabriela Rojas Jiménez, Founder of Sin Reglas.

The group will provide founders and members in the region with mentorship, support and networking opportunities to develop their solutions for viable growth, to benefit women’s health globally.

Founder Mayra Hurtado says: “As a Mexican femtech entrepreneur myself, I have experienced many of the hurdles that female founders face. Fortunately, I have had the support of a vast network to overcome these challenges. From collaboration with researchers and universities to local investors and business partners, Mexico’s unique business infrastructure has been a vital part of Hormony’s success so far.

“That’s why we decided to launch FemTech.Mx, not only to build a community of like-minded founders and advocates both in the region and internationally, but equally to showcase Mexico’s potential as a global startup hub for founders.”

Mauricio Milán, CEO of Ilum Ventures, says: “We’re seeing great strides being made in the femtech industry across the world, and one of our main aims of this partnership is to transform Mexico’s successful startup ecosystem into a global hub of femtech innovation.

“By offering support to female and male founders working on femtech solutions in the region, we can make this goal a reality and shape the future of female healthcare innovation.”

FemTech.Mx will host its inaugural FemTech.Mx Forum in Chihuahua in March 2025, at TEC de Monterrey’s Parque Tecnológico Orion, with participation from Ilum Ventures, Chihuahua City Government, Chihuahua State Government, Startup Chihuahua, BigBoss, Emprendemos, Tec Milenio and UACH.

Chihuahua was selected as the first host given its proximity to the US to foster cross-border collaboration, and its ecosystem industry leaders, local universities, health research and innovation centres.