GROW, the agrifoodtech ecosystem catalyst, has partnered with Hong Kong consumer tech company AlgoGroup to support startups in the fast-growing $270 billion market for pet products and services. The first joint initiative, “POUNCE”, is an internationalization program leveraging GROW’s expertise in scaling startups and AlgoGroup’s experience in democratizing brand building via e-commerce services, big data insights and growth capital.
POUNCE helps startups expand into Asia remotely using Singapore as a hub. Founders receive coaching from GROW to localize supply chains, scale operations, build their global brand strategy and finance their pan-Asia expansion. Founders also receive direct access to AlgoGroup as a go-to-market enabler, allowing them to secure early traction by opting in to services such as warehousing, product fulfillment, digital marketing and product distribution services.
POUNCE is integrated with GROW’s Land x Launch program, helping founders plug into the Singapore agrifoodtech ecosystem and its network of mentors, investors and partners. POUNCE follows similar programs that GROW has delivered in partnership with Innovate UK, Austrade and Food Futures Company.
AlgoGroup has a track record of investing or partnering with independent consumer brands and amplifying cost, revenue and strategic synergies. In addition to e-commerce services, startups from POUNCE will benefit from AlgoGroup's network of 120-plus points of sale with leading retail chains in Hong Kong such as APITA, Citistore, Citysuper, GuuSan, HKTVMall, ParkNShop, UNY and YATA. Earlier this year, AlgoGroup announced a partnership with QPets, one of Hong Kong’s largest pet retailers with around 50 points of sale.
“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, CEO of GROW.
“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, CEO and co-founder of AlgoGroup. “We’re excited to work with Joshua and his team to grow our presence in Southeast Asia.”
Applications close August 7, 2022. Apply here if you are a tech or innovative startup in the pet sector working in novel ingredients, new processing technology, gut health, sustainable solutions or more. For further information, visit www.gogrow.co/landxlaunch.
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