The Pitch by Garage: How MindFi broke through the mental wellness corporate space in Asia (Ep 4)

THE first year of the pandemic saw an increase in the global prevalence of anxiety and depression by a whopping 25 per cent, based on a scientific brief by the World Health Organization (WHO). Despite support for mental health issues in various governments’ Covid-19 response plans, major gaps remain, which are where startups like MindFi can fill. MindFi, backed by Y Combinator along with other prominent investors, provides mental wellness solutions for the workplace. Users can access one-on-one therapy and group coaching via a mobile app. In this episode, Bjorn Lee, founder and CEO of MindFi, demystifies the mental health market and how the startup built their product to fit both consumers and corporates.

Here are two key lessons from the conversation:

Developing an everyday mental health solution

Mental health can be a taboo topic in Asian societies - many are uncomfortable with being vulnerable about their personal issues. MindFi stands for mind fitness, and Lee’s take on mind fitness is equating fitness, traditionally associated with the body, to that of the mind. Lee takes a performance-oriented view toward developing mental health: MindFi aims to help its users to be more productive, become better team players, or communicate more effectively. Lee packaged his tech solution in an everyday app where users do not have to set aside time to do guided meditation like what leading mental health apps Calm and Headspace offer. MindFi was designed to fit into the life and routine of a busy professional, who can do their mental health exercises while commuting or between meetings.

Mental health for corporates

While MindFi can be used by anyone, Lee is prioritising MindFi as a B2B solution for the workplace. He saw an unmet gap between what workers need and what Human Resource (HR) leaders are designing or planning. Lee educated clients to understand how a healthier and more positive working environment translates into productivity gains. MindFi provides analytics that anonymise and aggregate employee data to help HR understand and identify areas for health, well-being and productivity improvements, which can go into employees’ programs and benefits.

Highlights of the conversation:

01:33 The personal genesis of MindFi

04:10 Tackling taboos, focusing on mind fitness

10:30 How to secure the corporates

13:52 The lonely entrepreneur journey

18:50 Pioneering the community centric model of mental health

SEE ALSO

The Pitch by Garage: How the collapse of consumer travel pushed YouTrip to diversify its fintech services (Ep 3)

The Pitch by Garage: How ShopBack bagged 30 million users in 8 years (Ep 2)

The Pitch by Garage: What is the secret to Hepmil's Success? (Ep 1)

Produced by: Vanessa Ho (podcast@sph.com.sg), Howie Lim and Ang Guangzheng

Edited by: Howie Lim

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