AUSTIN, TEXAS — SKU, an accelerator program for consumer-packaged goods (CPG) industries, shared the launch of its first pet care-dedicated accelerator track. The program will provide pet industry brands with tailored mentorship to further their growth.
With pet ownership continuing to rise, Morgan Stanley estimates 8% annual growth for the pet industry by 2030, one of the largest rates of return in the retail segment. In addition, pet spending in 2022 increased nearly 11% compared to the prior year, according to the American Pet Products Association (APPA). Total pet industry sales for 2022 topped $136.8 billion, according to APPA, an increase of 10.8% from 2021. With this in mind, SKU has unveiled an accelerator program completely dedicated to the pet care industry.
“SKU has had several pet care alumni go through past tracks, and combined with the exciting growth in the pet care industry now was the perfect time to launch a track dedicated to the pet care space,” said Emily Kealey, managing director of SKU. “The 12-week program will include weekly classes focused on helping pet care brands scale, as well as mentoring by seasoned industry executives. Through our mentors, partners and sponsors, our unique ecosystem gives us the opportunity to accelerate these pet care founders so they can make a lasting change in the industry.”
For its pet care track, SKU is seeking market-validated companies with “compelling” founders and innovative products across many categories, including pet food and safety, exercise, toys, oral hygiene, supplements, grooming, fashion products and more.
The pet care track will cover several topics important to startups such as mission and vision, branding, channel strategy, supply chain and product innovation. SKU will also offer participants access to its mentor community, which includes CPG founders, subject-matter experts and investors.
In the pet space, SKU has worked with several pet care industry brands including Homescape Pets, Springer, A Pup Above, Dog Threads and Pridebite.
The deadline to apply for SKU’s Petcare Track is June 4 and the program will officially begin Aug. 12 in Austin.
Learn more and apply for SKU’s Petcare Track.
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