The what? London-based technology accelerator and incubator Founders Factory is to expand into the U.S. with a new healthcare hub based in New York, in partnership with Johnson & Johnson Development Corp.
The details It’s first entry into the American market, the company will use the investment from J&J in order to set up its fourth worldwide location, which will have a focus on startups in the consumer healthcare space.
While not giving away details of the size of the investment, Founders Factory is due to work with J&J’s Consumer Health Products business in a bid to scale 25 existing startups and help launch 10 new ones over the next five years.
The U.S. team will be headed up by Maya Baratz Jordan, an entrepreneur and former managing director of U.S. seed accelerator Techstars.
The why? Baratz Jordan is thought to be initially focusing on women’s health at the New York-based hub, and it’s little wonder – ‘femtech’ is expected to reach $50 billion by 2025, according to a report by market research Frost & Sullivan. And with Founders Factory receiving between 4-7 percent equity from existing startups, and 25 percent from new ones, it’s a shrewd business move should the long-term investment pay off.
Baratz Jordan said, “Most existing healthcare products were built with men in mind so there is a big gap that can be bridged by startups offering services related to areas like fertility, motherhood and the menopause.”