Monday, June 5, 2023

Mind Alcove’s mission is to be your go-to resource for emotional and psychological well-being.

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Anyone in need of assistance in maintaining their mental health can turn to Mind Alcove, a Hyderabad-based company that offers a variety of self-help resources.

Especially among young people navigating the challenges of today’s hyper-connected world, where stressors at school, job, and home can all take a toll on anyone’s mental health, there is a growing recognition of the necessity of caring for one’s emotional and psychological wellbeing.

But, technology may play a significant role in assisting young people in maintaining positive mental health. Google, for one, has started a digital well-being project to teach individuals how to strike a healthy balance between their online and offline lives.

Even new businesses are getting in on the action by providing aid for mental health. TalkSpace and Crisis Text Line are just two of the many successful online resources for mental health care that are used all around the world. Many Indian firms, such Mindhouse, YourDOST, and WySa, are dedicated to improving mental health. Mind Alcove is one of the Indian startups working in the field of mental wellness.

Mind Alcove, established in 2021 by Shubhangi Rastogi and situated in Hyderabad, offers a variety of self-help resources for individuals to take charge of their own mental health. Methods such as writing down one’s thoughts and feelings and communicating with others in a similar situation in complete anonymity are examples of such aids.

Most mental health enterprises, according to Rastogi’s interview with Entrackr, begin with therapeutic solutions. According to her, therapy is only a small part of the emotional wellbeing journey, and the Mind Alcove startup focuses on cognitive behaviour, self-help and self-care tools and techniques that would help the person identify emotional gaps, figure out their happiness quotient, and build habits to sustain an adequate mental health balance.

She continued by saying that Mind Alcove has not yet formed partnerships with corporations because the company is still in its infancy and has a limited number of goods aimed at consumers rather than businesses.

In addition to its 1.5 million registered members, Mind Alcove has almost 35,000 monthly active users. Also, according to Rastogi, the company is currently concentrating on expanding its user base and improving the platform for existing customers.

“We are also working on offline seminars to assist raise awareness about mental health and challenge stigmas,” she said.

Yet, with more and more young people and working adults prioritising their mental health, the field of mental health is emerging as a promising new field of endeavour. It’s also a massive business potential, with a predicted value of $383.31 billion by 2020 and $537.97 billion by 2030.

It’s no surprise that venture capital firms are looking into the market. In a recent episode of Shark Tank India, the company Mindpeers was able to attract investors to the tune of Rs 1.06 crore.

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