For the first edition of our founders feature, we’re having a chat with Kidist Tesfaye, the founder and CEO of YeneHealth. She is a visionary whose exploits inspire female entrepreneurs around Africa to dare the odds and go after their passions regardless of the field or their previous experiences.
Her company, YeneHealth operates a digital platform that incorporates AI and data analyics to provide digital health tracking and care solutions for women. The startup has also developed a digital marketplace for healthcare products and services.
Can you tell us about yourself and what inspired you to start your company?
I am a seasoned professional with over 12 years of experience in top-tier management and administrative positions across diverse sectors, including finance, education, business, and healthcare. Born in Ethiopia and raised in the USA, I have always been passionate about healthcare and medicine, with a dream of contributing to the sector in my home country. Most of my professional career started in the banking industry. I was a banker for 5 years before I decided I had reached my ceiling in that industry and I wanted to focus on my passion in healthcare.
In 2016, I went back to Ethiopia to pursue my passion and got an opportunity to volunteer, working initially in the public healthcare sector before transitioning to private consulting in healthcare and business. During this time, I witnessed firsthand the challenges women face in accessing essential healthcare products in Ethiopia as I had to get my products from abroad. Realizing the magnitude of this issue, I conducted extensive research on ground and then pursued a master’s degree from Harvard to enhance my skills and knowledge in entrepreneurship and building organizations in emerging markets in the healthcare sector.
Upon completing my degree, I returned to Ethiopia with a determination to address the neglected area of women’s health. Through continued research and in-country experience, I recognized the critical need to serve the underserved community of women. This led to the founding of YeneHealth, an initiative built from the ground up with a dedicated team, focused on transforming women’s healthcare in Ethiopia – For women, by women.
What problem does your company solve and what’s your unique selling proposition?
We aim to address the insufficient supply of healthcare services or products around sexual and reproductive health and family planning. Our unique selling point is that we try to make our clients comfortable by being judgment-free, making our products convenient to use and enabling them to order online (at their finger tips). Additionally, our products are inclusive and responsive to local culture, provide access to free tracking features like period and pregnancy tracking, and we provide discreet door step delivery. Lastly, we offer educational content like videos and blogs on SRH topics in local languages that speak to local women. (Easy, affordable, convenient, private, and personalized)
Would you say your company has been successful? How do you measure your success?
Yes.
We measure success based on our month-on-month growth in revenues, app users, and content downloaded/watched. We also consider the trust and positive brand image that we have slowly and carefully been crafting in the ecosystem which has been great.
What were the biggest challenges you faced while starting your company?
The biggest challenges were consumer awareness creation, product development on the tech side, and financing.
How did you overcome these challenges?
We utilized design thinking approaches to get continuous feedback from users before launching our products. For the funding challenge, we competed in grant competitions to raise money for our operations. Then, we focused on low-quantity but high-quality user engagement to build trust from the community level in addition to doing massive above-the-line marketing.
What are your plans and goals for your company?
Our goal is to be the household brand for women’s health in Ethiopia. We plan to expand nationally to reach all corners of Ethiopia and then scale to other African countries.
Is there an emerging technology that you’re excited about?
We’re looking forward to launching our university student engagement and partnership on campuses to offer resources for students and onboard them as champions for SRH and peer mentors.
Is there an emerging technology that you’re excited about?
Yes, I’m particularly interested in Femtech wearables and product innovations in contraceptives, diagnostics, treatments and AI-based health management tools.
What trends do you see emerging in your industry?
Again, I’m drawn to Femtech wearables and product innovations in contraceptives, diagnostics, treatments and AI-based health management tools.
What’s your favorite thing about being a startup founder and leader?
I love that I’m able to set a big vision and bring together passionate people who understand and believe in it. But not just that, actually getting to execute the vision every day and seeing the impact are also parts of the journey that I enjoy.
What motivates you to keep going, even during tough times?
My main motivating factor is our “Why?” The “Why?” is that we can’t afford not to do anything about the problem we have identified.
The “Why?” is because women are depending on us to be there for them as they don’t have other options. The potential impact is the “Why?”
What is the most important lesson you’ve learned as an entrepreneur?
Hiring the right people is important, alignment and buy-in on the vision must resonate with your team, and you need to take risks even when they sound or look crazy on the outside. You can start small and build on to the vision while making pivots if needed.
What advice would you give to aspiring/emerging innovators?
An idea is just an idea. Prepare for your venture first by gaining knowledge, and experience and build a good team around you to help, because you can’t do it alone.
Is there anything else you would like to share with our audience?
When you do something, do it with an intention to raise the bar in the industry you are in. Be different, be better, be innovative and raise the quality of your work.
Follow Kidist Tesfaye on LinkedIn and learn more about YeneHealth at yenehealth.com.
If you’re an entrepreneur and you’d like to be featured, get in touch with us via any of our channels including social media.
