A clinical mental health specialist has launched a ‘neurowellness’ hub in Subiaco, using VR as part of the offering.
The global narrative around the startup sector has always been one of hustle and grind. We celebrate the late nights, the caffeine-fuelled coding sessions, and the relentless pursuit of scale.
However, have we ever stopped to consider the impact this is having on founders and their teams?
A recent survey of 129 local startup founders, undertaken by StartupWA (which I chair), has pulled back the curtain on what can only be described as a crisis of startup stress.
While it may not be surprising that 46 per cent of local startups are currently earning no revenue, the financial pressure is manifesting in physical and psychological terms.
Seventy-six per cent of founders self-reported significant financial stress, with around 70 per cent saying they have experienced lack of sleep, anxiety or burnout.
The crisis is moving into clinical territory, with 29 per cent having experienced panic attacks and 34 per cent depression. Worryingly, most respondents do not know where they can find appropriate help.
These findings mirrored global results.
In a 2023 survey of 400 startup founders around the world, Startup Snapshot found that 44 per cent were experiencing high stress, 37 per cent anxiety and 36 per cent burnout.
A critical finding was the prevalence of ‘masking’, with 80 per cent of founders not open about their stress. Only 23 per cent used a coach or some other help, and just 10 per cent felt comfortable talking to their investors about it.
Meanwhile, 47 per cent exercised less than before they started their company, despite exercise being a primary defence against stress.
It is against this backdrop that Edna Addai, a clinical mental health specialist with years of experience in hospital and forensic settings, launched the Neurowell Hub in Subiaco earlier this year; itself a startup.
Ms Addai’s journey was driven by professional frustration.
Having spent a career in mental health intervention, she saw the same patterns of burnout and nervous system failure repeated across many high-pressure industries.
She realised these people did not need another wellness app; they needed a human maintenance centre.
“Neurowell exists because I refuse to accept that falling through the cracks is inevitable,” Ms Addai told Business News.
The Neurowell Hub feels more like a sanctuary than a surgery, combining immersive virtual reality mindfulness with neurophysiological feedback and psychology-informed protocols.
“By using neuro-feedback, founders (and anyone) can actually see their physiological stress markers and learn, through guided practice, how to bring their cortisol levels down in real-time,” she said.
“The irony of building a mental wellness organisation is that wellbeing becomes your greatest asset and most vulnerable point.
“I have learned how to take breaks, pause and rest, which was difficult for me.”
As the WA startup ecosystem matures, we need to look out for the people involved. A stressed-out founder lacking restorative sleep is no good to their team, their product, customers or their investors.
Mental health is not a luxury; it is a fiduciary requirement. StartupWA’s survey has served as a wake-up call and sparked a response from local not-for-profit organisation Meshpoints.
This month, it will open a resilience and wellbeing challenge, with funding available for those with programs or initiatives that can make a difference.
Having experienced the highs and lows of startup life, Ms Addai’s advice is clear.
“The hardest part is the loneliness and uncertainty, finding support and mentors to advise on the journey,” she said.
“Ask for help sooner than you think you should. Remember that building something meaningful is rarely easy, but it is attainable; provided you stay in the game and keep perspective.”
Disclosure: the author works part time at Meshpoints.
• Charlie Gunningham has spent 25 years in WA’s startup sector, is on the WA government’s Innovation Advisory Board and is chair of Startup WA
