Women founders, who make up an ever-larger share of the startup ecosystem, are bringing more and more diverse perspectives to the table and also creating technology to solve historically overlooked problems. Women are using their unique experiences to innovate solutions to a wide range of critical issues, from public health and education to sustainability and social justice.
for Elin Øyre, founder and CEO of Stockholm-based startup Bumpythe key issue to tackle was infertility and the lack of resources to address it. I sat down with Erin and learned about her company. Microsoft Startup Founders Hub, and her journey as a woman in tech. We discussed her struggles, her passions, and how she deals with failure.
Problem definition and how Bumpy can help
“Infertility is a source of anxiety for many people. 1 in 6 couples experience infertility and 1 in 4 pregnancies end in miscarriage. It turns out that there are insufficient resources for
“Bumpy is a digital platform for people who are infertility or undergoing fertility. It provides access to fertility professionals such as psychologists, nutritionists and fertility coaches. We also provide a comprehensively vetted knowledge base.
“One of the first things we noticed is that people who are dealing with infertility feel really isolated. It’s hard to understand what infertility is if you haven’t had a need.
Build a startup based on your experience
“I’ve had a lot of fertility issues. It started nine years ago. I just joined Spotify and had my first miscarriage during the first few months. I felt lonely.And my problems continued.I had a further miscarriage.I have been through many IVF processes.I am still in the process and especially at work I have no one to talk to. I felt that there was no one.
“I wanted to create a community where I could talk to others who are going through similar things. I think one of the reasons I don’t talk about it is because infertility has long been perceived as a women’s problem, and that’s not true, about 50% of infertility is said to be caused by men. But when I look at how it’s written in the media, it feels like a women’s issue, and that’s something we want to change.”
“We live in Stockholm, Sweden, one of Europe’s most influential tech hubs. There are quite a few femtech companies here and a very supportive community. Bumpy When we started, we were just bootstrapping the company, we hired consultants to build the first iteration of the Bumpy platform so we could offer something to investors.
“My co-founder, Andrea Olson, I had no technical background, but I was driven by our personal mission. More recently I was able to hire a small technical team, but at first I relied on experience gained from working in large companies, personal stories and passion. “
leave a steady job to launch a startup
“I was at Spotify for nearly 10 years. I spent five years in business development, leading Spotify’s strategic partnerships, and for the past four years, I’ve led Spotify’s global expansion.
One thing we do know is that no matter what you do, whether it’s a business model or a product launch, things will fail. I cherish my failures and try not to get caught up in my mistakes. I want to keep moving forward towards my next challenge and leave it behind.
“Being the CEO of a startup is so different. You have to wear so many different hats. , I learned more than probably any other career.
Overcome funding challenges
“It was not an easy decision financially. I am driven by passion, but I also pay rent. I moved into a smaller apartment to rent out the one I had, waiting for Spotify as a safety net and knowing I had six months to decide. was really invaluable, it meant less risk, but after 6 months we decided to go with Bumpy.
“It’s no secret that the majority of startup funding goes to companies founded by men. Addressing a perceived theme, we have had trouble convincing investors, who are often middle-aged men, that the challenge is that this is a major public health problem and that the numbers related to infertility are It is to make them understand that it is increasing.
“One of the biggest reasons we started Bumpy was to help break down the taboos around infertility. We base this company on our own lived experience. Even if the person we’re talking to doesn’t share that experience, there’s a good chance someone they know will.
What Startup CEOs Don’t Expect
“My biggest surprise is that it’s taking so much longer than expected. It takes longer than you think, and running a small company with few employees always presents a resource problem.
“As a CEO, everyone suddenly sees you as an expert. Sure, I’m an infertility expert, but definitely no Expert in reading legal contracts! Luckily, you can hire a consultant to help you with that. “
Dealing with failure as a startup
“I think a great skill to have when you’re running a small startup is not being afraid to fail. Whether it’s a launch or whatever you do, things are bound to fail.I try not to cherish my failures and not get caught up in my own mistakes.Keep moving forward for the next challenge, I want to leave it behind, which I didn’t know before I started Bumpy.”
Bumpy is a portfolio company of the Microsoft for Startups Founders Hub.
To get started with the Microsoft for Startups Founders Hub, sign up here.
Tags: bootstrap, bumpy, CEO, digital platform, failure, fundraising, healthcare, infertility, IVF process, Microsoft Startups Founders Hub, pregnancy, representative, sabbatical, startup, Sweden, women in tech