Femtech is the Future: Priayanka Gill

THIRUVANANTHAPURAM:
Femtech, the technology that incorporates the feminine traits, has a bright future, asserts Priyanka Gill, Venture partner of Kalaari Capital and Group Co-founder of Glamm Group.

Priyanka Gill was giving a speech on “A future by Women, for Women: Creating Inclusive Growth through Empowerment and Innovation” at Huddle Global 2024 beach side startup festival organised by Kerala Startup Mission (KSUM) that drew to a close today.

“It is a fact that we live in a world designed by men and world of technology is no different. Most technology is designed by men for men where the traits and taste of women are discarded, “Priyanka Gill said.

“There should be change in this scenario and conscious efforts need to be made to build and deliver women-centric technology and female led startups,” said Gill whose Kalaari Capital is an initiative that aims to help female founder-CEOs by building a network of capital, coaching and community for them with a motto ‘level the playing field’ for women CEO’s.

“Emerging technologies like AI should incorporate female instincts in their design and functioning. For this to happen women entrepreneurs and women in tech field should think of developing technological solutions based on female psyche,” she noted.

Gill explained her concept with the example of how women and men shop differently and how the spending and saving nature of both genders varies significantly.

“Women tend to save more than men according to statistics. 78% of women own bank accounts, 57 % women have a credit score of prime plus and 53% of women shop on e-commerce, but our technology in finance is completely designed for men and their finance management ways. That’s why Kalaari Capital supported the idea of a financial platform designed for women named Lxme app,” Gill said. Lxme app aims to make women financially fearless by enabling them with the tools and resources to be money smart and money confident,” she added.

“There’s a bright future for Femtech which is yet to be explored and we should encourage more women centric technology and startups,” she said.

She also stressed that men should also be ready and conscious of gender biases and inequality in their workspace. “Men should consciously make efforts to change the gender-based biases and inequality happening in workspaces and stand up against such tendencies,” she concluded with the slogan ‘Future is Bright and Future is Female’.