Masawa

Joshua Haynes

Joshua Haynes is an impassioned disruptor, innovator, visionary and activator for good. He has over two decades of global experience designing, leading, communicating and partnering around complex concepts across industries like mental health, IT, fintech and human rights. 

Currently serving as the Co-Founding Partner at Masawa, Joshua aims to enable ecosystems that enhance mental wellness and catalyze global change. His profound passion for mental wellness, coupled with his quest for change, cultures, gadgets, technology and unconventional ideas, drives an impactful innovation.

In an interview with StartupCity, Joshua Haynes sheds light on his efforts to support innovative ventures in the mental wellness space through investments in early-stage startups. 

How would you describe your role at Masawa? Please outline your current roles and responsibilities within your organization.

We are a mental health impact fund based in Germany. We focus on impact investing in early-stage startups in Europe that aim to promote mental wellness and address issues related to mental illness and its social determinants like sleep and nutrition.

Our approach, called Nurture Capital, sets us apart from traditional impact funds or venture capital. We invest in these startups and actively engage with their founders. We assist them in identifying personal development areas, leadership challenges and even mental health issues or neurodiversity. We further provide services to help mitigate human capital risks in the early stages after investment.

My typical day involves a combination of strategic planning, meeting with potential investees, mentoring founders and overseeing the operations of Masawa. I also allocate time for research and staying updated on developments in the mental health and impact investing sectors. My goal is to ensure that we continue to make a meaningful impact while supporting the growth of innovative startups in the mental wellness space.

As the Co-Founding Partner at Masawa, what are the current challenges facing the mental health industry, particularly in Europe, and how do you address them?

The mental health crisis in Europe is stark, with approximately one in four adults experiencing depression and suicide being the second leading cause of death among Europeans aged 15 to 19. This crisis incurs significant costs, estimated at around 600 billion euros annually, equivalent to about four percent of GDP, encompassing indirect costs such as loss of productivity and direct costs associated with treating mental illness.

The stigma surrounding mental health and the perception that the public sector should solely address healthcare challenges have hindered private investment in innovative mental health interventions.

To tackle these challenges, we focus on leveraging impact investing to support European early-stage startups developing products and solutions to address mental health issues. By providing funding and mentorship through our Nurture Capital approach, we aim to bridge the private capital investment gap and catalyze innovative ventures' growth. We also work to raise awareness about the importance of mental health and advocate for increased investment in this critical area.

What technologies are you optimistic about in the context of mental health?

Numerous emerging technologies offer promising advancements in the prevention, treatment and delivery of mental health care. Among these, brain health technologies, including various forms of neurostimulation and neuromodulation, show potential for enhancing cognitive function and addressing neurological conditions. Virtual and augmented reality are also interesting, offering immersive experiences that can be utilized for therapeutic purposes. 

Artificial intelligence (AI) is another exciting area, especially due to its ability to adapt protocols developed for one condition to address others. For instance, AI can take protocols designed for a specific haptic device and apply them to conditions like ADHD or autism. 

Smartphone, despite being associated with growing concerns like addiction, presents opportunities for mental health monitoring and intervention. Leveraging smartphone sensors like accelerometers and pressure sensors can provide valuable insights into individuals’ mental well-being and help identify signs of distress.

Please elaborate on your recent initiative or project that has made a positive impact.

Our primary objective is to secure capital from investors and channel it into specific technologies and innovative solutions to address mental health challenges. One notable investment was in Well Spent, a company focused on reducing smartphone addiction.

Our approach to investing differs from traditional methods. Rather than solely aiming for high valuations and exits, we work closely with the founders of these companies. We provide them with coaching, therapy and access to various forms of support to enhance their leadership effectiveness, resilience and team well-being. This approach aims to prevent burnout and cultivate positive work environments, ensuring the long-term success and sustainability of the businesses we invest in.

What advice would you offer to aspiring startup founders?

It is crucial for aspiring startup founders to deeply understand their motivations for starting a company. They should reflect on their “why” - the underlying reason that may be difficult to articulate but drives their passion for their venture. Founders should also recognize the significance of leading with vulnerability. Being open about their challenges and struggles can foster empathy and connection, which are invaluable in navigating the uncertainties and inevitable shifts often encountered in the startup journey.