Studying and treating mental health ultimately involves putting trained practitioners in a room with patients for a sustained period of time to accurately diagnose them and run studies to better understand their condition and how to treat it. Yes, we have some ways of managing conditions like Bipolar, but the diagnosis process is incredibly complex and very detailed to the point of requiring the treatment provider interact thoroughly with a large group of people to ensure an accurate diagnosis.
Ultimately, you want an extremely low rate of false positive diagnoses with regards to mental health issues and teasing apart the difference between the actual condition and someone exhibiting some symptoms due to other causes requires a lot of training and practice. I don't think much of that translates to the SV/VC model yet.
Most have not yet formed into fundable startups but they will and I have seen leaps in terms of iterating around these ideas.
However I don’t think we’re quite at that point yet where just a couple of kids with technology chops can tackle this adequately. Seems a lot of finesse, research and wealth of knowledge in this area is needed before a critical mass of startups can tackle this in the same fervor that you see in the sharing economy or even health and fitness trackers.
There are also some doing more hardcore scientific stuff , like better diagnoses using eeg analysis, but those requires fda involvement , deep pockets , patience , deep knowledge , etc - so those innovations come from universities, when/if they come.
Also Alphabet is going to that field, it recruited a high official from the NIH in mental health. This again shows you how hard is to start such projects.
http://www.justice.gov/opa/pr/glaxosmithkline-plead-guilty-a...
The big players have a lot of money invested in exactly-wrong theories and approaches to mental health.
One problem is: how does a consumer know that something will work?
Yeah, I can't imagine why a bunch of capitalists wouldn't jump at the opportunity.