New survey exposes critical mental health crisis among Canadian startup founders

Financial pressure, long hours and fear of failure are driving high rates of burnout and anxiety among entrepreneurs

TORONTO, March 24, 2025 /CNW/ - A recent survey conducted by MaRS Discovery District, District 3 and community partners across Ontario and Quebec has revealed  worrisome mental health challenges among startup founders in the health sciences sector. After gathering insights from more than 100 C-suite leaders, the Mind Balance Project found that:

• 65 percent of women founders reported experiencing burnout, compared to 42% of men.
• Pre-seed founders were the most likely to report high levels of anxiety and burnout due to long development cycles, regulatory challenges, and funding scarcity.
• Despite these challenges, only 12 percent of respondents sought professional mental health support.

"We launched this project because we want to improve our ability to help de-risk early-stage health sciences startups," says Edna Chosack, healthcare stream lead and senior coach at District 3. "These teams often deal with unique circumstances that  heighten the mental pressure on the founding individuals." A staggering 84 percent of those surveyed identified financial concerns as their primary stressor, with 58 percent citing fear of failure, and 42 percent struggling with the economic climate. Many of these founders face immense pressure to scale their businesses while navigating financial uncertainty and investor expectations, often without access to adequate mental health resources.

"TThere are concerning signs that our entrepreneurs need more support, whether they're developing medical devices, biotech or digital health platforms," says Louise Pichette, Health Lead at MaRS. "We need to prioritize tailored mental health solutions that meet founders where they are in their journey."

The Mind Balance Project findings highlight a critical gap in mental health resources for entrepreneurs, emphasizing the need for accessible, low-cost support options, mentorship networks and expanded access to trained therapists and coaches. Furthermore, BIPOC founders reported the highest rates of mental health struggles, underscoring the need for inclusive and culturally responsible resources.

In response, MaRS and its partners are actively exploring targeted support programs to address these challenges. By integrating mental health infrastructure into the broader startup ecosystem, the goal is to ensure that Canada's innovation sector remains robust, resilient and sustainable. 

About MaRS

MaRS Discovery District is a charitable organization and North America's largest urban innovation hub, dedicated to helping Canadian technology companies succeed. With a focus on climate, health sciences and other emerging technologies, MaRS supports startups tackling some of the world's most pressing issues.

Founded in 2000, MaRS spans more than 1.5 million square feet of cutting-edge office, lab, meeting and event space in downtown Toronto across two locations — the MaRS Centre and MaRS Waterfront. Since 2010, MaRS has helped ventures generate $11.5 billion in cumulative revenue, raise $19 billion in funding, and create and maintain more than 33,000 jobs. The MaRS platform also includes MaRS IAF, one of Canada's top seed-stage venture funds. Through its world-class facilities, strategic programs and partnerships, MaRS accelerates the adoption of groundbreaking Canadian technology and bolsters a globally competitive innovation ecosystem.

SOURCE MaRS Discovery District

For more information or to schedule an interview, please contact: Media contact: Wendy Bairos, [email protected], 416-831-9820, MaRS Discovery District