Women in Life Science Norway (WiLD Norway) is dedicated to advancing the role of
women in leadership and board positions in health and life sciences, from industry, academia, and healthcare. One striking feature of their launch event last week was the strong male representation in the audience. WiLD Norway has made a deliberate effort to include men as active participants in their mission. Chelsea Ranger, founder and chair of WiLD Norway, was asked about this approach: “Why is male engagement so integral to WiLD Norway’s strategy?”

By engaging men as active ambassadors, we are not only raising awareness of unconscious biases but also fostering collaborative efforts that challenge outdated norms.

“Male engagement is integral to WiLD Norway’s strategy because true gender equality cannot be achieved in isolation. We believe that men, who currently hold the majority of leadership roles in life sciences, have a crucial role to play in creating an environment that supports women. By engaging men as active ambassadors, we are not only raising awareness of unconscious biases but also fostering collaborative efforts that challenge outdated norms. This collective approach is essential because gender balance benefits everyone – diverse teams lead to better innovation, stronger financial performance, and more inclusive healthcare solutions. By working together, we can create a sector that reflects the full range of talent and ideas in our society, and that’s where real progress happens,” said Ranger.

Wild Norway Launch Event. Photo: Fartein Rudjord

An untapped talent pool

Menon Economics also released new data at the event, shedding light on gender disparities in the Norwegian life science industry. The report shows that limited public companies (ASA) are doing better in terms of female representation in senior roles compared to smaller ones. This is mainly due to the fact that such companies have been under a requirement for gender balanced boards since 2006. For the majority of companies, who are limited companies (AS) the story is different.

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Steering a life science company

Promotions and hefty raises do not create leaders. While some people always want to sit in the driver’s seat, leadership – effective leadership – is a learned skill.

While women make up a significant part of the workforce, they are notably underrepresented in leadership, holding just 21% of board seats and 19% of CEO positions according to Menon Economics. This gap has far-reaching implications for research, clinical trials, and innovation, often leading to the neglect of women’s specific health needs. WiLD Norway is committed to challenging these norms, ensuring that women have an equal stake in leading and shaping the future of health sciences.

Kari Rolfsjord, Menon Economics. Photo: Fartein Rudjord

Kari Rolfsjord, Senior Economist, Menon Economics, what is your take on these findings?

“Our findings show that women represent the majority of competency in this sector. Although women are well represented as employees and in relevant education, they do not make it to the board rooms or leadership roles within Life Science. This is an untapped talent pool. Life science is a sector marked by high productivity. Norway needs to adapt and get new sources of value creation. The full potential in Life science should be unleashed as this will benefit all citizen, men and women,” said Rolfsjord. 

This means thousands of new board positions will be filled by women over the next few years.

“In 2024, Norway’s new regulations requiring 40% female representation on boards came into force, impacting 25% of the Norwegian life science industry. This means thousands of new board positions will be filled by women over the next few years,” added Rolfsjord.

Pulling Down the Ladder

During the event, many audience members shared the importance of role models and “pulling down the ladder for others.” This sparked discussion on how WiLD Norway plans to address the need for mentorship, creating space for women to rise in their careers, find their voices, and connect with those who support their leadership journey.

Finally, Menon Economics’ report revealed that women own 33% of the total value creation of privately owned stocks in the life sciences sector – higher than in the overall Norwegian industry. 

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Empowering Women’s Leadership in Health and Life Sciences

It’s an exciting time to be a part of Norway’s health and life science environment, with a marked uptick in activity and a distinct sense of progress brewing.

Farzad Abdi-Dezfuli posed a key question: “What difference does it make when women own and invest in life science companies?”. Answering to this question himself, Farzad points out how women owning and investing in life science companies can have profound social and economic impacts in Norway and globally. 

Increased female business ownership can also catalyze women’s participation in corporate leadership and decision making.

“This includes empowering women to prioritize women’s health and economic well-being. Increased female business ownership can also catalyze women’s participation in corporate leadership and decision making. Additionally, more women owning and investing in this sector can help drive supportive government policies (in terms of creating a more level playing ground for women) by advocating for greater support for women not only in this sector but also in other businesses and society at large,” said Abdi-Dezfuli.

Wild Norway Launch Event. Photo: Fartein Rudjord