Caitlin Baltzer is the co-founder and CEO of MYndspan, a company developing technology to measure cognition and non-invasive brain scanning.
Co-founded by Baltzer in 2020, MYndspan provides magnetoencephalography (MEG) scans at its partner scanning sites. The results provide people with a baseline reading of their brain health, which can help assess any future damage, identify changes before symptoms, and help treat conditions like concussion or PTSD.
The London-headquartered business has six employees and has secured £2m in funding to date.
In this week’s Founder in Five Q&A, Baltzer explains why not having a background in neuroscience has allowed her to approach things differently, why the education sector is ripe for disruption, and shares her tips for motivating teams.
1. What one thing do you wish you’d done differently when launching your company?
Caitlin Baltzer: Looking back on the launch of MYndspan, I don’t believe I’d change a thing. Every challenge I’ve faced and every obstacle I’ve managed to overcome in the last three years, has been a vital part of my growth and improvement as an entrepreneur.
It’s because of these, that I’ve been able to gain valuable insights into the world of business, hone skills I didn’t even know I had, and strengthen my resilience.
Embracing the lessons learned from mistakes as an opportunity for growth has been instrumental. When entering a new industry or embarking on a new journey, like launching a company, there will inevitably be mishaps along the way. Instead of dwelling on these, I’ve always tried to learn from them to make better-informed decisions, ensuring I never make the same mistake twice!
After all, if everything went perfectly, would I have learned even half of the things that I know now? Probably not!
2. What’s a fact about yourself that people might find surprising?
CB: I actually have no background in health or neuroscience! My career began in finance and investment. I was first introduced to magnetoencephalography technology or MEG as it’s known, whilst working on an acquisition as the VP of strategy and operations at Croton Healthcare.
I was fascinated by MEG’s ability to give unprecedented insights into brain health, yet shocked by the reality that it is not available outside of research or some clinic settings. So, I dove head-first into the industry, co-founding MYndspan with a mission to change this.
Whilst unconventional, I believe this transition from finance to healthtech – and lack of formal education in the health space – has allowed me to think about and approach things differently.
3. Excluding your own, what’s a sector that’s ripe for disruption?
CB: The education sector. I feel that, for many, the high costs associated with accessing quality education have served as a significant barrier to entry.
However, recent advancements in technology, particularly the emergence of AI-powered language models, are now empowering individuals with personalised, easily accessible educational resources at scale. This offers hope to those who can’t depend on prohibitively expensive universities to access educational content.
Not only that, but language models can facilitate self-paced learning without the constraint of traditional classroom settings or rigid schedules. I’m optimistic that this newfound flexibility can broaden educational opportunities for more people, especially those balancing work or family commitments.
4. How do you motivate your team?
CB: I focus on two main strategies: pursuing projects that spark genuine interest and openly learning from every outcome. We give our team the freedom to explore areas they’re passionate about, ensuring their work isn’t just a job but continues to excite them.
Celebrating wins is standard, but we also value the lessons from things that don’t go as planned, viewing every situation as a chance to learn. This, I find (and hope), keeps the team engaged, allowing motivation to be driven by passion and resilience.
To develop this collaborative environment, we encourage open dialogue and feedback, creating a culture where everyone feels heard and their ideas valued. Leading with empathy and understanding is important, especially when cultivating a workplace that champions both individual and collective achievements.
5. Who’s a leader you admire in your industry?
CB: When it comes to improving our brain health and developing precision medicines, objectivity is key. One leader doing just that is Amit Etkin, a renowned Professor of Psychiatry at Stanford University and CEO of Alto Neuroscience.
Amit’s work is revolutionising the pharmaceutical treatment of mental health disorders by analysing brain functioning to identify biomarkers that can be used to develop biologically-based treatments. This means that rather than going through the typical trial-and-error approach, the process of matching individuals with the most effective treatment for them is expedited so they can get better, faster.
Such approaches will benefit a large proportion of the population and I admire any initiative that aims to disrupt the status quo to improve the wellbeing of so many people.
Founder in Five – a UKTN Q&A series with the entrepreneurs behind the UK’s innovative tech startups, scaleups and unicorns – is published every Friday.
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