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Since the start of the COVID-19 pandemic, there has been an increased focus on mental health, particularly among young people. 1 in 6 children aged 6 to 17 suffer from a mental disorder each year, and now a new investment company wants to use technology to facilitate their treatment. Telosity by Vinaj Ventures is a fund established back in 2019 to invest specifically in companies that provide technology-enabled solutions to improve the mental well-being of young people, a demographic used to doing just about anything with their phones or computers take care of. Founder and CEO, Anish Srivastava, said he was inspired to create the fund when he saw how few mental health resources were available, especially for children and adolescents. “Accessibility is very difficult,” Srivastava said, “and technology is helping to democratize access to care.”
And if Telosity is successful, in the near future children and young people could be meeting with their mental health advisors in cyberspace, which the company hopes to use as a jumping-off point to meet young people where they feel most comfortable. “We can use that as a place for resources,” Srivastava says, “whether it’s its educational types of skills, mental health self-teaching, ability to offer teletherapy solutions, and so on.”
And it’s not just about planning apps and telemedicine; New advances in virtual reality could make it much easier for doctors to examine and treat patients online. Telosity is seeing growing market interest in augmented and virtual reality (AR/VR), and much of that is centered on mental health assessment tools for providers. All of this could make it even easier for children and young people to access mental health resources, since in many cases they do not even have to leave their homes.
It’s also good news for businesses. Telosity released a report last month showing that youth mental health solutions will be a $26 billion market by 2027, and the company calls this an unprecedented opportunity for companies to improve their bottom line while at the same time Helping millions of Americans most at risk. According to Srivasta, this could be a key selling point for investors in the mental health space. “There’s an opportunity to do good while investing and building sustainable businesses, and I think that’s what drives technology.”
The full Telosity report can be found at https://www.telosity.co/mkt-guide