There is a new focus on technology-based mental health treatments for young people

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Since the start of the COVID-19 pandemic, there has been an increased focus on mental health, especially among young people. One in six children between the ages of 6 and 17 suffers from mental health disorders each year, and now a new investment company wants to use technology to facilitate their treatment. Telosity by Vinaj Ventures is a fund created in 2019 specifically to invest in companies that provide technology-based solutions to improve mental health among young people, a demographic accustomed to doing just about everything on their phones or computers. Founder and CEO, Anish Srivastava, says he was inspired to start the fund when he saw how little mental health resources were available, especially for children and teens. According to Srivastava, “Access is very difficult, and what technology does is it helps democratize access to care.”

And if Telosity succeeds, in the near future, children and teens may meet mental health counselors in cyberspace, which the company wants to use as a springboard to meet young people where they feel most comfortable. “We can use that as a place for resources,” Srivastava says, “whether it’s the kinds of educational capabilities, or mental health for self-learning, or the ability to provide telemedicine solutions, etc.”

And it’s not just about scheduling apps and telemedicine; New advances in virtual reality could make it easier for clinicians to examine – as well as treat patients – in an online environment. Telosity is seeing a growing market interest in augmented and virtual reality (AR/VR), much of it focusing on providers’ mental health assessment tools. All of this can make it easier for children and teens to access mental health resources, as they don’t even have to leave their homes in many cases.

It’s also good news for companies. Telosity released a report last month showing that youth mental health solutions will be a $26 million market by 2027, and the company calls this an unprecedented opportunity for companies to boost their bottom line, while also helping millions of most vulnerable Americans. Srivasta says that could be a major selling point for mental health investors. “There is an opportunity to do good while investing and building a sustainable business, and I think that’s the driver for technology.”

You can find the full Telosity report at https://www.telosity.co/mkt-guide

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