In the fast-moving world of MedTech startups, diverse leadership encourages different perspectives that can spark innovation and cultivate a more collaborative environment. The underrepresentation of women in leadership roles within the science, technology, engineering and math (STEM) workforce, however, remains a challenge. In fact, according to a recent AAUW report, "women make up only 34% of the workforce in STEM, and men vastly outnumber women majoring in most STEM fields in college."

My 30 years of experience have shown me that any robust business strategy should include investing in female leadership. As the Head of Intellectual Property at a rapidly growing MedTech startup, I recognize the value of mentoring other women in the workplace.

Pay it forward

The presence of women leaders encourages other talented women to pursue careers in the STEM workforce and fosters a more inclusive industry overall. Beyond MedTech, promoting the career growth and development of women leaders is beneficial for business in general.

Mentoring other women is one of the key steps you can take to make a difference in the workforce. Research indicates that "employees with mentors are promoted five times more often than their non-mentored peers and 87 percent of employees with mentors or that mentor others feel empowered by their relationships and attribute greater confidence to the experience."

Career development groups are beneficial and encourage collaboration. Many women leaders are quiet achievers – they do what needs to be done at work without a lot of fanfare. It is important to have a safe space where women co-workers can share ideas and best practices.

Varied perspectives spur innovation

Women leaders bring a unique perspective to the table, often rooted in our experiences as both healthcare consumers and caregivers. This perspective enables us to identify unmet needs and gaps in the healthcare system that might otherwise be overlooked.

Studies have shown that diverse leadership teams make better decisions. When diverse minds come together, a wider range of potential solutions can be explored, leading to more well-rounded innovations that cater to various patient demographics.

It is essential to challenge assumptions and offer a counterbalance to the traditional decision-making process. Strong communication skills and empathy are also qualities that are vital in navigating complex challenges in the MedTech sector.

Advancing product development

MedTech development can be an exciting, exhilarating career leading to breakthrough innovations that can improve people's lives and help transform healthcare as we know it. A recent McKinsey study stated that women are the primary decision-makers and consumers in the healthcare marketplace.

Women leaders often possess persuasive communication skills and empathy, qualities that are vital in navigating complex challenges in the MedTech sector. Having women leaders can facilitate a better understanding of the market and contribute to more effective marketing strategies and user experiences that resonate with a broad audience.

Fostering a Culture of Inclusivity

While highlighting achievements is crucial, acknowledging the struggles women have faced is equally important. Women have historically confronted gender discrimination, wage gaps, lack of representation, and societal biases. Overcoming these challenges requires resilience, determination, and support from allies.

Recognizing the importance of diverse leadership, it is crucial to shed light on the numerous benefits that women leaders bring to the MedTech field. Women leaders can play a pivotal role in cultivating a workplace culture that values diversity and inclusivity. This is not limited to gender but extends to other dimensions of diversity, such as ethnicity, nationality, and background.

In fact, some argue the future of medtech is female, "MedTech isn't the first industry where the consumer base doesn't match up with the leadership ratio. But the effects could have much more dire consequences in this case. Women have a different perspective on healthcare than men. If we're not leveraging this unique view adequately, the quality of many health products will never be optimal."

A culture that celebrates differences encourages creativity, employee satisfaction, and overall company growth. The MedTech field stands at the intersection of innovation and healthcare, making it imperative to harness every available source of insight and expertise.

The underrepresentation of women in MedTech startup leadership roles is a challenge that needs to be addressed to fully realize the industry's potential. By embracing diverse leadership, the sector can drive innovation that addresses a wide spectrum of healthcare needs. Through concerted efforts to elevate women leaders, the MedTech industry can chart a course toward a more equitable and impactful future.

Rosie Stramandinoli is the Head of Intellectual Property at Nutromics.