{"id":21233,"date":"2022-09-23T07:59:26","date_gmt":"2022-09-23T14:59:26","guid":{"rendered":"https:\/\/foundersnetwork.com\/?p=21233"},"modified":"2022-12-06T14:01:07","modified_gmt":"2022-12-06T22:01:07","slug":"systemic-challenges-in-the-startup-ecosystem","status":"publish","type":"post","link":"https:\/\/foundersnetwork.com\/systemic-challenges-in-the-startup-ecosystem\/","title":{"rendered":"Navigating Systemic Challenges in the Startup Ecosystem with Chris Young"},"content":{"rendered":"

Chris Young’s<\/a> journey in the startup ecosytem began when he first launched his startup Like YOU! just two weeks after being released from prison.\u00a0<\/span><\/p>\n

In the next year and a half, he raised nearly $150,000 to support his social justice-oriented mission: increasing mental health resources for people in prison.\u00a0<\/span><\/p>\n

Through Like YOU!, which he started in early 2021, Young aims to partner with state prisons, juvenile facilities and county jails. The startup is designed to connect incarcerated people with culturally relatable cognitive behavior therapy via smart tablets already available in most of these facilities.\u00a0<\/span><\/p>\n

Young will be among the speakers at this year\u2019s fnSummit 2022, Founders Network\u2019s<\/a> annual fall conference. The event connects founders, investors, and partners in the startup ecosystem. In a fireside chat, Young will share his unique story and how he navigates the startup world as a Black man and formerly incarcerated person.<\/span><\/p>\n

Here\u2019s a peek of his startup journey.\u00a0<\/span><\/p>\n

An Uphill Battle<\/span><\/h3>\n

During Young\u2019s sentencing hearing for low-level drug crimes in 2014, he delivered a powerful speech \u2013 articulating his knowledge of subjects from American history to economics \u2013 to convey to the judge that he had what it takes to succeed. He hadn\u2019t been afforded the same opportunities as the other people in the room. But, if given the chance to be released, he had the aptitude and the curiosity to pursue his aspirations.\u00a0<\/span><\/p>\n

The judge at the hearing was so impressed that he resigned in protest of the mandatory sentencing laws that required him to give Young a long sentence. The judge\u2019s resignation led to national attention and eventually Young\u2019s release in January 2021.\u00a0<\/span><\/p>\n

\u201cYou have to be willing to ask questions. You have to be able to learn, to absorb the information so you can then turn around and apply it,\u201d Young says. \u201cThat is one of the main things I did the whole decade I was incarcerated. That is what led to the judge being so impressed at my sentencing speech.\u201d<\/span><\/p>\n

A Personal Mission<\/span><\/h3>\n

The inspiration behind Young\u2019s startup Like YOU! is deeply personal. Two years before he was arrested and incarcerated, his brother died by suicide at the age of 20. The brother had served as Young\u2019s surrogate parent. Young spent his decade in prison regretting that he hadn\u2019t been able to intervene to help his brother.\u00a0<\/span><\/p>\n

\u201cI kept thinking about the intersection between mental health and technology,\u201d Young says. \u201cAnd I kept thinking, how could I have helped my brother and how can I help others?\u201d<\/span><\/p>\n

He focued his passion for mental health on his own environment, where resources were extremely limited. There were only three mental health professionals for 1,500 people in the prison.\u00a0<\/span><\/p>\n

\u201cSo if somebody ever needed to talk to them, you can imagine, they didn\u2019t have the time,\u201d he says.\u00a0<\/span><\/p>\n

That\u2019s not uncommon. In fact, the shortage of mental health professionals<\/a> in U.S. prisons is so dire, the national average is one therapist per 200 incarcerated people.\u00a0<\/span><\/p>\n

Fundraising Challenges<\/span><\/h3>\n

Young\u2019s startup is designed to reduce recidivism and provide incarcerated people with the tools and education to perceive the world differently. Many tech founders in the startup ecosystem who have attended elite schools often graduate with financially powerful networks that can be tapped during rounds of startup fundraising. However, Young has had to find creative ways to raise the funds to make his dream a reality.\u00a0<\/span><\/p>\n

\u201cA lot of those founders, their family and friends round can easily reach $300,000 to $500,000. That is not normal amongst most families of color,\u201d Young says. \u201cMost of us don\u2019t have the network that other founders have.\u201d<\/span><\/p>\n

So, for Young, bootstrapping and finding creative ways to save money are critical. For example, he\u2019s struggled to hire, as it\u2019s difficult to pay early employees salaries. Instead, Young is using vested equity to compensate his two full time employees.<\/span><\/p>\n

\u2014<\/span><\/p>\n

fnSummit 2022 encapsulates the Founders Network experience, giving startup founders the opportunity to learn from other tech founders in the startup ecosystem, build deep relationships with investors, and uncover solutions to the challenges they\u2019re facing. The annual event provides the perfect setting for off the record discussion, reflection, and networking.<\/span><\/p>\n

Learn more about Founders Network see if you qualify for\u00a0membership<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Chris Young’s journey in the startup ecosytem began when he first launched his startup Like YOU! just two weeks after being released from prison.\u00a0 In the next year and a … <\/p>\n

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