Unleashing the Future: Purina’s Pioneering Journey in Pet Care Innovation
The pet care world has seen many dynamic changes over the past few years such as the growth of the pet supplement category, new pet food niches, and high-tech pet-related products. At Purina, we ask ourselves on a daily basis “what’s next” when it comes to finding ways we can improve the relationships between pets and their families, and one of many ways we pursue the ‘next’ is through our corporate venturing division, 9 Square Ventures. 9 Square Ventures brings together the deep expertise that Purina has been developing for more than a century and pairs our resources with emerging pet care businesses to support startups in several ways ranging from mentorship to investment.
As one of the 9 Square Venture officers, I can attest to Purina’s relentless pursuit to support innovation across the pet category, from pet food and services to pet tech, novel and sustainable ingredients, and wellness products. We thrive on collaboration with early-stage startups and those who want to make a positive impact on the lives of as many pets and people as possible, because it is a goal that we share. Working closely with innovators and offering our industry knowledge, insights, and mentorship allows us to learn from each other, move faster, and make a difference.
Here are a few ways we work together to invest in the future of pet care:
Investing Capital in Startups
Since 9 Square Ventures was founded in 2015, we have made capital investments in a portfolio of startups that featured both smart and skilled entrepreneurs and highly relevant innovations in the pet care category. One of our first investments was in a pet tech company that commercialized a smart cat litter device protected by patents. After several rounds of investments, we acquired the entire business, and we are proud to have recently updated and re-launched its technology as our Petivity® Smart Litter Monitor.
Offering Mentorship & Category Expertise
In 2016, we created the Pet Care Innovation Prize (PCIP) program to formally engage with pet industry startups. Over the past eight cycles, we’ve been the catalyst for forty early-stage start-ups to provide no-strings-attached funding and offer a platform for growth.
Every year, startups from across the U.S. and around the world enter their business to be part of the program and five winners are selected and awarded a cash prize and mentorship from Purina’s in-house experts including areas like R&D, marketing, procurement, logistics and operations. Finalists also come to Purina’s HQ campus in St. Louis for a weeklong bootcamp to network, meet with pet industry experts, and receive coaching support to prepare for a final pitch to win a grand prize at Global Pet Expo, the pet industry’s largest trade show.
Since the program started, several PCIP businesses have been featured on the reality show “Shark Tank” and some have achieved remarkable investments and acquisitions. Purina's commitment to propelling emerging talent to success is a testament to our dedication to nurturing innovation.
Connecting Startups to Learn, Grow & Win Together
Recognizing the value and importance of connections, we also established the Pet Care Innovation Network in 2019. With more than 50 pet care startup companies as members, this extraordinary community provides a platform for startups to network, share insights, and foster collaborations as they work to grow their businesses.
The Pet Care Innovation Network helps like-minded innovators build relationships, think bigger, and provide support to each other. Quarterly networking events across the country and a yearly meetup at Purina’s St. Louis headquarters enable our members to connect with potential investors and each other, amplifying the ripple effect of innovation across the pet care landscape.
Inside-Out Innovation
These are just a few of the ways we help the pet care category get to "What's next?" at Purina. As you can imagine, we also have a robust internal R&D program and countless workstreams to drive innovation within our walls. You can read more about our approach to R&D here.
Our commitment to innovation is not just about creating products; it's about cultivating an ecosystem where creativity and curiosity thrive inside and outside of our walls. Whether it’s through driving internal innovation or investing in startups through 9 Square Ventures, we are deeply committed to shaping the future of pet care. It’s one of the reasons that my dog, June, and I love coming to work every day.
About the Author:
David Narkiewicz is the Chief Legal Officer for Nestle Purina PetCare North America and a founding member of 9 Square Ventures. He has over 25 years of experience in M&A, investment transactions, and joint ventures across food, pet care, and innovative technologies.