Last week saw the launch of Female Founded, Female Led (or short FFFL), a new campaign to encourage consumers to shop at businesses that are owned and operated by women. The initiative was started by Dr. Sophia Yen, Founder and CEO of birth control startup Pandia Health, to address the issue of companies with white male founders swapping in women and POC CEOs to appear more diverse.
“Through awareness and allyship, FFFL aims to support those in development, while amplifying the FFFL companies that already exist.”
Dr. Yen is hoping that this directory will help women achieve parity in business. As the CEO & Co-Founder of the only doctor-led, female founded, female led, birth control startup, Dr. Yen also believes it is of importance that experts in a given field run companies, rather than serial CEOs. In our short interview we spoke to Dr. Yen about her new initiative FFFL and learned more about what she is hoping to accomplish.
What inspired you to start FFFL? What are some of the issues you’re hoping to address?
I started FFFL to increase consumer awareness of Female Founded, Female Led companies. I think that women want to help women as well as allies. We need consumers to put your money where your values are. Ask who are the founders? Who are the CEOs? And all things being equal, please choose the Female Founded, Female Led company. Less than 3% of venture capital funding goes to women led companies.
I want to see more Female founders, more Female CEOs and for that to happen we need the help of consumers and investors to buy from Female Founded, Female led and and to invest in female founded, female led companies.
You run Pandia Health, a company active in the women’s health space. Is the campaign targeted at femtech entrepreneurs or can companies across all industries and stages participate?
Any industry, any stage. We want to highlight Female Founded, Female Led companies and get consumers to buy from them.
How does FFFL work? What can participating companies and consumers expect?
Consumers/Customers can come to the website to find a Female Founded, Female Led company with whom to spend their dollars.
Companies can list themselves, be recognized, and get all of the benefits that come with being part of a network like this, from some free PR to opportunities to collaborate with other FFFL businesses.
What is your vision for FFFL?
That it becomes the go to place to check if a company is Female Founded, Female Led. That people who want to help more women get a place at the Founder/CEO table will come to FFFL and choose those companies over those not founded and run by women.