As technology makes it easier for humans to shop or visit a doctor online, the same is happening for our furry friends. Now with the click of a button, pet owners can do everything from order food, conduct a vet visit, or even order sophisticated medical tests for their pets online.
And the business of pets is booming. According to market research firm Skyquest, the pet-tech market is expected to reach a whopping $17.6 billion by 2028.
With this in mind, Leap Venture Studio, the technology accelerator program backed by Mars Petcare, the largest pet food company on the planet, have announced they’re taking applications for the program’s eighth cohort.
The application process is open to founders of pet-focused startups from around the globe, and applications are open until October 15.
The selection criteria for program entrants is focused on fostering diversity, equity, and inclusion within the pet care industry. In a statement, Leap Venture Studio noted that 70% of previous program founders have been women or individuals from underrepresented minority groups.
Selected startups will participate in a 12-week hybrid program kicking off on March 4 in London and ending with Demo Day presentations on June 10 in New York City.
The studio’s program offers a tailored experience for each startup, pairing founders with industry leaders, award-winning strategists, technologists, designers, and consultants from the Leap Venture Studio team, along with access to the growing network of prior accelerator graduates.
Furthermore, selected startups will receive an investment of US$200,000, custom mentorship, and valuable assistance in preparing for future fundraising.
Applicants accepted into the program will join a growing list of innovators in pet tech. Previous accelerator graduates have spearheaded innovation in sustainability, senior pet care, digitization of pet services, veterinary care, cat healthcare, premium nutrition, and efforts to end pet homelessness.
Since its inception in 2018, the 45 companies that have completed the program have collectively raised over $200 million in follow-on capital, along with two successful exits.
Interested applicants are encouraged to contact Leap Venture Studio via this link. Applications close on October 15.