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The Covid-19 pandemic has brought many changes in 2020, but pet ownership and spending continue to grow. Pet adoptions and fostering are at a record high and pet owners have adapted new ways of making purchases for their pets. Within the pet care innovation ecosystem, hundreds of startups are addressing the growing opportunities across the pet care ecosystem.
Humanization – the trend of pet parents increasingly treating pets as a member of the household – has resulted in increased spending and a demand for products and services that didn’t exist before. As this trend continues to add opportunity in pet care, The Pet Care Innovation Prize (PCIP) team has identified three major areas of opportunity for startups:
During July and August 2020, PCIP hosted three events bringing together startups and innovation experts from Purina and its 9Square Ventures corporate venturing group. From these events, a “Startup Opportunity Map” was created for pet care. The map highlights startups doing great work and categorizes the space for early adopters, investors, and industry leaders.
The map features 23 sub-categories of pet care opportunities. Highlights among the 100+ startups include:
The full map with all the categories, sub-categories, and 100+ startups is available for download here: Opportunity Map with Company Descriptions.
Watch this month for an archived copy of the sessions: Not Just Nutrition, Collaborative Pet Care & Health, and The Digital Transformation of Pet Life to see how these insights emerged.
A special thanks goes out to our presenters for their insights: James Bello (Shameless Pets), Ainsley Bone, DVM (Purina), Bill Broun (Purina / 9 Square Ventures), Shea Cox (PetHospice), Michael Hemstreet (My Dog is a Robot), Adam Hobler (Purina / 9 Square Ventures), Dustin McAdams (PupJoy), David Narkiewicz (Purina / 9 Square Ventures), Lauren Pagliughi, DVM (Purina), Cherice Roth DVM (Ask.vet), Sean Simpson (Nielsen), Brian Taylor (The Pup Relief Fund), and Stephen Wurth (Purina).
Have a startup in pet care? It’s too late to be listed on this year’s map, but you can apply now to the Pet Care Innovation Prize to win up to $20K in no-strings-attached cash, business support, industry visibility, and membership in a network of high potential pet care startup peers.