Singapore
CNN business
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Many Asian Countries Introduce Tough COVID-19 It is a reality that is more restrictive than other continents, raising concerns about increased levels of stress, anxiety and isolation. Many young entrepreneurs are now leveraging technology to expand access to mental health care.
In July, Singapore-based Intellect raised $20 million in Series A funding.
Founded in 2019, Intellect runs a mobile app that regularly checks users’ moods, offers tailored rescue sessions and exercises, and connects them in real-time with a therapist when needed. .
Intellect co-founder Theodoric Chew, 26, said: “When technology comes along, we can expand access to mental care for everyone.”
Since its launch in early 2020, the startup has served over 3 million users in 15 languages across Asia Pacific.
Chu says it inspired him to try to promote mental health care after battling a panic attack when he was 16.
“I saw firsthand how the treatment and working with the professionals made me better,” he said. “On the flip side, I’ve seen many people throughout the region struggle, not clinically, but because they don’t have the right tools and know-how to access care.”
Intellect was founded before the pandemic, but with the Covid-19-related lockdowns and quarantine measures imposed, it quickly grew in popularity as companies became more aware of the mental health of their employees.
“A lot of people got caught up in a lot of different things: fear of the pandemic, being trapped, receiving stay-at-home orders,” he said. “What’s fundamentally changed is that mental health is no longer just a desirable factor for companies to consider, but is an all-encompassing need today.”
“It benefits businesses in a very real way…because if they don’t feel good mentally, they tend to perform poorly,” he said.
Justin Kim, CEO and co-founder of Ami, another Singapore- and Jakarta-based digital mental health care startup, agreed that mental health offerings need to scale.
“Many companies spend millions of dollars a year paying for gym memberships. But why don’t people invest in their mental health in the same way? It’s accessible and affordable,” he added.
Since the startup was founded in January of this year, it has raised at least $3 million from a number of investors, including Facebook owner Meta.
Kim’s team has been working on an app that allows users to confidentially text or call a mental health coach at any time without prior appointment. This will allow users to seek professional help in the most efficient way whenever they need it, he said.
Both Chew and Kim target employers with their business models. Companies can pay a subscription fee and employees have unlimited access to services kept private from their bosses.
Alister Carmichael, an associate partner at McKinsey & Company, says employers will benefit if their employees’ mental health improves. “The impact of poor mental health outcomes is significant. …Looking at the employment and organizational level, the impact can be presenteeism, absenteeism, reduced productivity, loss of engagement, attrition, and more.” ‘ he said.
The World Health Organization reports that depression and anxiety disorders cost the global economy $1 trillion in lost productivity each year. EstimateAnd in the first year of the pandemic, the global prevalence of anxiety and depression increased by 25%, according to a WHO report in March.
Chew said Intellect is trying to close the gap by proactively protecting mental health before symptoms worsen. When employees open the app, the system asks them how they are feeling. Mini “rescue sessions” are also offered to users going through difficult times, while live therapy sessions are also available for those in need.
The app offers a number of learning programs to help users overcome mental obstacles such as self-esteem issues, depression, and procrastination. A journal feature guides users to write down whatever comes to mind, and a ‘mood timeline’ tracks users’ stress levels.
Since launching the app, Intellect has served many high-profile corporate clients, including Dell, Foodpanda and Singapore telecom conglomerate Singtel, Chew said.
Kim, whose startup is building a prototype, said employers could also benefit by identifying employee trends and common concerns.
“With employee consent, we share aggregate-level data. This gives employers a bird’s-eye view of what employees are really struggling with, rather than the need to dig deeper. There is,’ he said.
“But we won’t specify who said it because we don’t want employees to feel that this is not a safe place to address their concerns.”
Karen Lau, a Hong Kong-based clinical psychologist at the mental health initiative Mind HK, says addressing mental health in Asia presents unique challenges.
“In the Asian context, many cultures tend to uphold values such as honor, pride, and the concept of face,” she said. shall be considered and judged as the cause of
“When it comes to mental health, just like physical health, I think all problems are easier to prevent than to fix,” said Kim. “Coaching to invest in mental health If people acknowledge and celebrate the fact that they receive services, it will normalize practice.”
Chew said one of his goals is to break down social prejudices and build a new mental health system for the Asia-Pacific region.
“Mental health has long been stigmatized across Asia, which has traditionally made us see it as a clinical problem, a crisis,” he said. “We believe that mental health is just as important as physical health. You and I also face stress, burnout, sleep problems, relationship struggles, and more. In fact. , many of us should start working on our mental health here.”
