SINGAPORE — GROW, an agri-food and technology accelerator, announced on July 12 a partnership with tech company AlgoGroup to help support pet care startups. The first joint venture between the two companies will be POUNCE, an accelerator program for pet product and service startups.
POUNCE will operate as part of GROW’s Land x Launch™ program, connecting startups with mentors, investors and partners within the Singapore market.
POUNCE will aid startups looking to expand into Asia, specifically the Singapore pet market. Over a five-month period, startup founders will receive coaching from GROW on supply chain, scaling operations, global brand strategy and financing. AlgoGroup will help startups with warehousing, product fulfillment and distribution, and digital marketing services.
“This partnership brings together a comprehensive end-to-end capability from strategic advice to implementation, to secure early wins in Asia through Algo’s e-commerce services and retail channels,” said Joshua Soo, chief executive officer of GROW.
AlgoGroup has partnered and invested in various independent brands, aiding in their costs, revenue capabilities and business strategies. Startups will benefit from AlgoGroup’s e-commerce abilities, as well as its retail chain network, which includes APITA, Citistore, Citysuper, GuuSan, HKTVMall, ParkNShop, UNY and YATA.
“GROW’s demonstrated track record of running accelerator programs for startups in the agrifoodtech sector makes them the perfect partner to work with us in identifying and nurturing cutting-edge product concepts,” said Chris Fung, chief executive officer and co-founder of AlgoGroup. “We’re excited to work with Joshua and his team to grow our presence in Southeast Asia.”
AlgoGroup has also recently partnered with QPets, one of Hong Kong’s largest pet retailers, to support the POUNCE program.
POUNCE is currently seeking innovative pet industry startups working with novel ingredients, new processing technologies or focused on pet gut health, sustainability and more. Applications to participate in the accelerator close Aug. 7, 2022.
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