Launch of the Intellectual Property Management Clinic - FemTech program
June 24, 2024
On June 18, 2024, the World Intellectual Property Organization (WIPO), the Israel Patent Office (ILPO), and the Canadian Intellectual Property Office (CIPO) jointly launched the IP Management Clinic - FemTech program for SMEs and startups from Israel and Canada.
Women's health impacts over 51% of the global population, and innovative solutions aimed at improving women's health and well-being are part of a rapidly growing niche market. This sector, projected to exceed $4.8 trillion by 2025 globally[1], represents a groundbreaking shift in addressing women's health needs globally. Encouraging investment in FemTech innovation is crucial for advancing research in this vital sector and enhancing women's daily lives. Intellectual property (IP) plays a critical role in the industry to provide this incentive.
In the global FemTech market, Israel has the fourth largest number of companies and ranks second in global investment in the sector. According to the Startup Nation Central report, Israeli FemTech raised a cumulative $154 million in 2022, which accounted for 13% of investment in Israel’s MedTech sector. There are roughly 100 Israeli FemTech companies, including 15 new ones founded in the last two years. Notably, 27% of these companies are founded or co-founded by women, compared to 15% of all Israeli tech companies.
Canada, too, is making significant strides in FemTech and the broader innovation economy. In a global economy increasingly focused on intangible assets, intellectual property plays a critical role in this intangible intensive industry. This is a global phenomenon that cut crosses regions, sectors and companies’ size. Results from Canada’s 2019 IP Awareness and Use Survey revealed that 31.1% of Canadian businesses that owned IP reported increased revenue as a result. However, there remains substantial growth potential, as less than 20% of small businesses in Canada currently own IP.
This initiative therefore, aims to support the 20 selected SMEs and Startups from Israel and Canada, in using their IP more strategically and effectively. All selected participants are already developing and offering innovative products, treatments, and solutions in this space[2], and they have confirmed using the IP system in their daily activities.
The opening session featured productive discussions about the program's framework, addressing questions, and setting the stage for the four-month journey ahead. During this period, the participating companies will receive a combination of personalized IP mentoring from IP and business mentors, alongside tailor-made IP training sessions. The companies were also introduced to a team of eight IP and business experts, who will provide practical recommendations to help the companies develop effective IP strategies and utilize their IP assets for commercial success:
- Ms. Natalie Raffoul, Managing Attorney, Brion Raffoul LLP & Legal Tech Entrepreneur, Canada
- Ms. Yael Riemer, Litigation department and co-head of the IP practice, FISCHER (FBC & Co., Israel
- Ms. Einav Zilber, Founder, IP Law. Patents. Management, Israel
- Mr. Max Yam, Associate, IP Backed Financing at Business Development Bank of Canada
- Ms. Cynthia Webb, Founder, Webb & Associates, Patent Attorneys, Israel
- Mr. James W. Hinton, Founder, Own Innovation, Patent Attorneys, Canada
- Ms. Lihi Katzenelson, Partner, Brand Protection & IP Attorney, Arnon, Tadmor-Levy, Israel
- Ms. Paula Clancy, Partner and trademark agent, Gowling, Canada
This program also provides a fantastic platform to create a strong network, share experiences and lessons learned among the participants, and contribute to strengthening the FemTech community. WIPO, ILPO, and CIPO look forward to a successful collaboration, benefiting SMEs and fostering innovation within this industry.