Healthcare Finds Its Match With Serena Williams And Reckitt

Serena Williams is once again poised to make history, but this time, she’s stepping off the tennis court and into a new arena: health equity. In a recent event in New York City, Williams partnered with Reckitt, a company known for its reputable brands such as Lysol and Mucinex, to announce the expansion of its Catalyst program in the U.S. This initiative seeks to bridge the gaps in healthcare and hygiene access globally.

Reckitt Catalyst has launched an ambitious mission to support 200 entrepreneurs over the next five years with a commitment of up to £10 million, focusing particularly on women-led and underrepresented founders. The objective is to deliver essential health and hygiene solutions to five million people by 2030.

Kris Licht, the CEO of Reckitt, emphasized this mission succinctly: “Through Reckitt Catalyst, we’re proud to extend our global commitment and bring our support for social entrepreneurs to the U.S. For nearly 200 years, Reckitt has been dedicated to improving health and hygiene standards, making a significant impact on communities worldwide. At Reckitt, care is action. We can be a catalyst for positive change that goes beyond our products.”

Why Serena Accepted the Call to Healthcare Entrepreneurship

As Catalyst’s inaugural Entrepreneur-in-Residence, Williams brings a wealth of experience in backing innovative ideas. Since establishing her own venture capital fund, she has invested in early-stage companies across tech, health, and lifestyle sectors. Her attraction to Reckitt stems from its impressive global track record.

“I am inspired by Reckitt’s mission and saw this partnership as a significant opportunity,” Williams said. “Since 2020, they have already supported over 60 entrepreneurs in 13 countries. This support has translated into real improvements in healthcare access, clean water, and sanitation, ultimately saving lives. I felt incredibly honored to be thought of for this role.”

Williams’ role goes beyond mere figurehead; she aims to mentor U.S. entrepreneurs by providing guidance that extends beyond financial backing. She encapsulates her involvement as a fusion of investor, mentor, and advocate, especially addressing systemic barriers faced by many founders.

The Urgent Reality of Healthcare Deserts

The launch of this program couldn’t come at a more critical time. As reported by the World Health Organization, half of the global population lacks access to basic healthcare, with one in four lacking clean water. In the U.S., approximately 80% of counties classified as healthcare deserts limit access for about one in three Americans. The challenges are particularly acute for women, children, and rural communities, compounded by environmental factors such as climate change.

Williams views entrepreneurship as a pathway to solutions. “We need to examine how much our world has altered through advancements like AI, and how we navigate our living, sleeping, and transportation,” she stated. “With ongoing investments in technology, I believe these 200 founders have immense potential. The right support can help them launch their initiatives.”

The Importance of Representation in Healthcare

The expansion of Catalyst seeks to tackle the inequities that are rampant in traditional venture funding.

In 2023, a mere 0.48% of all venture capital funding went to Black founders, as revealed in a report from Crunchbase. Women fare only slightly better, receiving around 2% of venture capital in 2022. Although 31% of startups have at least one woman founder, all-female founder teams account for less than 6% of VC deals, according to the Harvard Kennedy School’s Women and Public Policy program.

Williams points out that these statistics reflect a concerning reality. “Women, who face underrepresentation as founders, have a unique understanding of the challenges we are facing,” she noted. “Having more women in leadership roles means addressing issues like clean water and improved hygiene from personal and community-level experiences.”

Her vision emphasizes the need for tangible results. “Many health solutions lack consideration for women’s experiences. Increasing female-led companies can yield real outcomes that better reflect our needs and priorities. We deserve healthcare that acknowledges us and supports our well-being.”

Mentorship Beyond Financial Support

Williams acknowledges the array of challenges faced by entrepreneurs, emphasizing that funding, although crucial, often fails to cover all bases. “Networking is critical in venture capital; knowing when and how to present your product can be pivotal,” she explained. “As a mentor, I can offer guidance in leadership and development. Supporting these founders not only serves them, but immensely fulfills me.”

This philosophy is mirrored by Catalyst’s partners, which include Acumen America, Yunus Social Innovation, and Health Innovation Exchange. Catherine Casey Nanda, Managing Partner at Acumen America, reinforced this shared mission: “Our work will enhance our capacity to invest in visionary entrepreneurs, offer founders critical mentorship from Reckitt and Serena’s team, and break down funding barriers for women and underrepresented founders.”

Introducing the U.S. Healthcare Startup Cohort

To celebrate its U.S. launch, Catalyst presented an initial cohort of three startups dedicated to enhancing healthcare access, affordability, and reduction of disparities. The specifics of this cohort are still forthcoming, yet the framework is clear: emerging companies will receive financial support, industry-specific knowledge, and mentoring from Reckitt leaders as well as Williams.

This structure builds on Reckitt’s proven success globally. Since the program’s inception in 2020, it has aided entrepreneurs tackling issues from sanitation challenges in India to digital health advancements in Africa. The approach, combining both funding and mentorship, has positively impacted over one million lives thus far, with aspirations to expand that reach to five million under Williams’ stewardship.

A Healthcare Initiative with Real Impact

Williams expresses a personal connection to her work in this realm. “Many communities in the U.S. grapple with obstacles to accessing fundamental healthcare for their loved ones; it’s imperative we act decisively to rectify this,” she remarked. “By investing in visionary ideas and founders, providing essential support and belief, we unlock potent solutions for communities in need. I am proud to collaborate with Reckitt Catalyst in helping entrepreneurs expand their initiatives and create transformative change.”

Her words reflect both a sense of urgency regarding ongoing healthcare disparities and optimism for the potential success of committed entrepreneurs.

Looking Forward to Healthcare Equity

Catalyst is now accepting applications from U.S. founders. Interested entrepreneurs can learn more and apply through Reckitt’s Catalyst program. The goal is to uncover innovative grassroots solutions that often go unnoticed by conventional venture funding and to empower them with necessary resources to grow.

For Williams, the vision extends beyond a single project; it’s a movement toward enlarging representation in the health innovation sector. For mothers, families, and communities grappling with healthcare inequities, it brings the promise of solutions that consider their unique realities.

“What excites me most is mentoring those addressing community challenges. It’s not solely about statistics; it’s about recognizing that someone’s innovative idea might lead to healthier families, safer access to clean water, or improved healthcare availability.”

The Bigger Picture for Future Healthcare Innovators

This initiative ties into a broader dialogue about how we can equip future entrepreneurs for success. As previously discussed in Forbes, progress in this domain depends on providing opportunities and role models. Williams embodies both roles—demonstrating what’s possible while uplifting others along the way.

Reckitt’s commitment and Williams’ mentorship may not be the definitive solution to healthcare inequalities, but they represent a significant stride in the right direction. By combining resources, representation, and accountability, the potential ripple effects can reach far beyond the initial startup cohort.

If Williams’ storied career in tennis has taught us anything, it’s that she thrives in challenges that require endurance. Today, her focus is set on healthcare and health equity, and she is already making impactful moves.