I noticed there is not a whole lot out there in terms of small mental health startups. There is nothing for anxiety, depression, abuse, addiction or anything of the sort that I have been able to easily find. I am wondering if this is because they struggle to gain success in the market. Do mental health startups gain much success? Shouldn’t they?
I think this comes down to general awareness. We are in a weird gray area where there is growing awareness but not enough. Plenty of people still struggle with these issues and feel all alone.
Yes and no. I think they are more likely to gain recognition out of tragedy. Think of the black lives matter movement. It only gets talked about and donated to, or funded, when something bad happens.
Mental health startups tend to do best when they are attached to a cause or a medical foundation. I can't think of any in recent years that have taken off and have been successful.
This depends on a lot of factors. They tend to get the most attention from private market investors. Unmind and Talkspace are two of the most recent to really come out and gain a lot of attention. I think if you have an idea worth investing in, people will invest and you will see growth in this market. It isn't as popular but there are a lot of areas where you can still become successful.
I agree with Jeremy. There are plenty out there but they often times greatly depend on private supporters and funders for their success. People who tend to know a loved one suffering from something that can gain help from the startup is often the case I see online.