09.13.13
The value in creating spaces for underrepresented demographics often is not immediately apparent. Why, for instance, should there be a space in medtech for women in the industry specifically? A 2011 report by the U.S. Department of Commerce found that only one in seven engineers are female. Additionally, women have seen no employment growth in science, technology, engineering and math (STEM) jobs since 2000. Most experts agree the lack of female representation in STEM fields is due to the historical dearth in legacy female scientists. Not only have women, as is well known, historically faced numerous hurdles to entering male-dominated fields; they also have been somewhat invisible in history despite their innovations. Take Sybilla Masters, the woman who invented a new cornmeal milling method. She couldn’t patent her invention in the 1700s because at that time, only men could hold patents. Women who sought patents centuries ago would file them in the name of a male relative, thereby becoming invisible in the pages of history.
The lack of women in technology fields is a vicious cycle, according to Jocelyn Goldfein, a director of engineering at Facebook.
“The reason there aren’t more women computer scientists is because there aren’t more women computer scientists,” she told the Associated Press. In other words, representation and visibility is vital to attracting more women to a field that traditionally is lacking in women, racial minorities, or any other underrepresented demographic.
A 2011 study published in the Harvard Business Review showed the inclusion of women in a group notably can raise that group’s collective intelligence rises. This does not mean “women are smarter” (although the study did find that women have a higher quotient of “social sensitivity” intelligence); rather, it means that when a group contains relatively equal amounts of various and unique experiences and intelligences, the group becomes more balanced, innovative and productive.
“We’ve replicated the findings twice now,” said researcher Anita Woolley, Ph.D., assistant professor of organizational
behavior & theory at Carnegie Mellon University. “Many of the factors you might think would be predictive of group
performance were not. Things like group satisfaction, group cohesion, group motivation—none were correlated with collective intelligence. And, of course, individual intelligence wasn’t highly correlated, either … Extremely homogeneous or extremely diverse groups aren’t as intelligent.”
This is the basis for the foundation for organizations such as MedtechWomen, which is doing exactly that—creating a space for women in medical technology fields and highlighting womens’ ideas and experiences to spark innovation and growth. The organization includes members who are business leaders, financial investors, researchers, physicians, and experts in new product commercialization. Founding members of MedtechWomen include Amy Belt, director of Covidien Ventures, the venture capital branch of medical device firm Covidien, and Deborah Kilpatrick, Ph.D., senior vice president of CardioDx.
MedtechWomen has hosted the MedtechVISION Conference annually since 2011. This month, medtech professionals will gather for the third time to discuss the state of the industry from the perspective of women in the business. This year’s conference will focus on value in healthcare.
Kelly Corrigan will kick off the meeting by discussing value from the patient’s perspective. Corrigan is a breast cancer survivor whose father was diagnosed with late-stage cancer while she was undergoing her treatment.
The first panel will address how the medtech industry can and does adapt to change. The discussion will focus on how models implemented within the healthcare industry can achieve value from within via innovative approaches to drive value across R&D, clinical, and sales functions. The second panel will address whether taking cost out of the healthcare system is the new “must have” for raising capital from investors or interest from corporate partners. Panel number three should provide some entertainment, as it is a mock debate between a fictional entrepreneur, provider, payor, and patient to illustrate the competing agendas as to what is considered “valuable” innovation and why. The next panel will explore creating value with business innovation in medtech, and the fifth and final panel will be on emerging markets.
Healthyimagination CEO Sue Siegel will deliver the closing keynote address. Healthymagination is a $6 billion initiative from the General Electric Company to invest in global healthcare and medtech innovation. The organization has dedicated $1 billion to cancer-related research and development, and has joined with the U.S. National Football League to develop faster and better ways for diagnosing traumatic brain injury.
The lack of women in technology fields is a vicious cycle, according to Jocelyn Goldfein, a director of engineering at Facebook.
“The reason there aren’t more women computer scientists is because there aren’t more women computer scientists,” she told the Associated Press. In other words, representation and visibility is vital to attracting more women to a field that traditionally is lacking in women, racial minorities, or any other underrepresented demographic.
A 2011 study published in the Harvard Business Review showed the inclusion of women in a group notably can raise that group’s collective intelligence rises. This does not mean “women are smarter” (although the study did find that women have a higher quotient of “social sensitivity” intelligence); rather, it means that when a group contains relatively equal amounts of various and unique experiences and intelligences, the group becomes more balanced, innovative and productive.
“We’ve replicated the findings twice now,” said researcher Anita Woolley, Ph.D., assistant professor of organizational
behavior & theory at Carnegie Mellon University. “Many of the factors you might think would be predictive of group
performance were not. Things like group satisfaction, group cohesion, group motivation—none were correlated with collective intelligence. And, of course, individual intelligence wasn’t highly correlated, either … Extremely homogeneous or extremely diverse groups aren’t as intelligent.”
This is the basis for the foundation for organizations such as MedtechWomen, which is doing exactly that—creating a space for women in medical technology fields and highlighting womens’ ideas and experiences to spark innovation and growth. The organization includes members who are business leaders, financial investors, researchers, physicians, and experts in new product commercialization. Founding members of MedtechWomen include Amy Belt, director of Covidien Ventures, the venture capital branch of medical device firm Covidien, and Deborah Kilpatrick, Ph.D., senior vice president of CardioDx.
MedtechWomen has hosted the MedtechVISION Conference annually since 2011. This month, medtech professionals will gather for the third time to discuss the state of the industry from the perspective of women in the business. This year’s conference will focus on value in healthcare.
Kelly Corrigan will kick off the meeting by discussing value from the patient’s perspective. Corrigan is a breast cancer survivor whose father was diagnosed with late-stage cancer while she was undergoing her treatment.
The first panel will address how the medtech industry can and does adapt to change. The discussion will focus on how models implemented within the healthcare industry can achieve value from within via innovative approaches to drive value across R&D, clinical, and sales functions. The second panel will address whether taking cost out of the healthcare system is the new “must have” for raising capital from investors or interest from corporate partners. Panel number three should provide some entertainment, as it is a mock debate between a fictional entrepreneur, provider, payor, and patient to illustrate the competing agendas as to what is considered “valuable” innovation and why. The next panel will explore creating value with business innovation in medtech, and the fifth and final panel will be on emerging markets.
Healthyimagination CEO Sue Siegel will deliver the closing keynote address. Healthymagination is a $6 billion initiative from the General Electric Company to invest in global healthcare and medtech innovation. The organization has dedicated $1 billion to cancer-related research and development, and has joined with the U.S. National Football League to develop faster and better ways for diagnosing traumatic brain injury.