Creating Space for Underrepresented Founders to Discuss Their Unique Wellness Journeys
Anise Health, in collaboration with J.P. Morgan’s Startup Banking team and the Office of Asian & Pacific Islander Affairs, led a program dedicated to empowering entrepreneurs to be more reflective and effective in both their professional and personal lives. The cohort consisted of 15 founders, who are building companies across a range of industries, including but not limited to climate, food & beverage, media, retail and health, and were interested in discussing the impact of mental health on the entrepreneurial experience.
The goals of the partnership included:
Building community and creating a dedicated forum for founders to connect, celebrate and receive peer support in recurring settings.
Expanding access to financial resources, startup banking services, and clinician-led workshops about culturally responsive care for diverse founders.
Enabling inclusion in startups by empowering underrepresented entrepreneurs and their new ventures by connecting founders to funders and business development partners
The opportunity
It's not uncommon for founders to face burnout, significant stressors, or mental health issues while building their companies.
In fact, 72% of founders say that entrepreneurship has affected their mental health, but only 23% of founders have sought assistance by seeing a coach or psychologist to manage stress, according a survey by the Startup Snapshot.
Furthermore, an overwhelming 90% of founders report that they do not discuss stress with their investors, per the Startup Snapshot. “[Founders] have learned to ignore their own wellbeing in order to achieve their long-term goal, accepting the mantra of ‘no pain, no gain’ often sold by today’s leading entrepreneurs,” the Startup Snapshot’s authors wrote.
For founders of Asian and Pacific Islander descent, the stigma around mental health can be even more pronounced, according to scientific and sociological reports.
The conversation
J.P. Morgan and Anise Health developed a four-session series of clinician-led workshops across four months. The sessions focused on the following topics:
Blazing Nontraditional Careers while Honoring Traditional Values
Effectively Managing Energy and Stress without Burnout
External Business Development - Relationship Building Flywheel as AAPI Entrepreneurs
Goal Setting and Maintaining Momentum in Uncertain Times
Each session was led by an Anise Health clinician or facilitator partner. Anise Health is a culturally responsive digital mental health platform for underserved populations, with an initial focus on Asian American adults. Anise incorporates a research-based understanding of culture and intersectionality into provider training and clinical interventions. By leveraging its technology, Anise matches patients to clinicians, integrates therapy, coaching and self-guided resources into personalized and holistic treatment plans and triages clients based on progress measurement to the right level of care. In addition to their individual services, they also offer group services, workshops and community building events nationwide.
Through the series, J.P. Morgan was also able to share information how the firm works with founders on their unique journeys to scale and grow. Participants of the series also learned about the services its Startup Banking team provides, such as cap table management solutions, accelerator card, proprietary insights, and sophisticated IPO products.
The impact
Founders said the program fostered a sense of community and a place to discuss the barriers to accessing mental health care that founders from the Asian and Pacific Islander community face.
“I really enjoyed my experience as a first-time founder being able to open up and build community with other founders in a repeating way. I walked away from the program with many learnings, connections, and hope to use this platform as a foundation for further growth and connection in the days to come.”
“I'm taking away the power of an intentional community that's filled with love, vulnerability, and best intentions. Thank you Anise Health and J.P. Morgan for creating a safe and much needed space for us to check in on ourselves as AAPI founders and pulling it up to the top from the bottom of our to-do lists!”
“Founders can implode under the pressure. I learned that it’s vital to invest in your mental and emotional health and think about mental health as a runway with a burn rate. We need to find sources to replenish, and this program is a great way to do so in a structured system with fellow founders.”
“Before the start of this [program], I was struggling from isolation and burnout as a solo founder. The tough market conditions made every difficult day feel impossible.”
“After the start of the cohort, I met fellow AAPI founders who understood my challenges and acknowledged the hardships AAPI founders often face; with little or no support from their parents and few resources to push forward and delegate pressures and pivots of building a company.”
