Science and Technology

VetChip Clinches the Coveted 2024 Purina Pet Care Innovation Grand Prize

Perth, Australia, March 21, 2024 /PRNewswire/ -- In a significant milestone for animal health technology, VetChip, a biotechnology firm from Perth, Australia, emerged as the grand prize victor of the prestigious 2024 Pet Care Innovation Prize. VetChip was awarded a grand sum of $25,000, in addition to receiving specialized support from Purina's pet care experts.

The competition reached its apex at the Global Pet Expo in Orlando, Florida, where VetChip and four other distinguished pet care startups from the United States, Canada, and Australia showcased their innovative businesses. These startups presented their visions to a panel comprising pet industry influencers and investors. The event, known as the largest trade show within the pet care sector, sets the stage for pioneers like VetChip to unveil transformative technologies aimed at enhancing the wellbeing of our cherished pets.

The groundbreaking VetChip technology is an implantable device designed to relentlessly monitor and detect health issues in pets. It utilizes advanced analytics to evaluate pet health data meticulously and sends alerts to pet owners through an app at the first sign of illness or injury. This early detection allows for prompt diagnosis and could significantly improve treatment outcomes for pets.

Celebrating Innovation and Entrepreneurship in Pet Care

"We are absolutely thrilled to have our groundbreaking biosensor technology celebrated with this award," expressed VetChip co-founder Dr. Garnett Hall with palpable enthusiasm. The Pet Care Innovation Prize 2024 is viewed by the VetChip team not merely as a win, but also as a catalyst that will unlock a multitude of proactive animal healthcare opportunities such as continuous welfare monitoring, enhanced nutrition support, and early disease detection. Dr. Hall further credits the insightful interactions with the Purina team for enriching their R&D journey, paving the way for significant advances in the pet care realm.

The selection of VetChip by a panel of seasoned judges, including eminent investors, industry veterans, and Purina executives, highlights the high-caliber innovation showcased by the company. The journey to the top commenced with an assemblage of nearly 150 competing enterprises, from which five were chosen to partake in the 2024 iteration of the Pet Care Innovation Prize. Each finalist received $25,000 in cash and the privilege of engaging in a high-impact bootcamp. This immersive program connected them with a myriad of business experts, industry moguls, veterinarians, and Purina executives. It was a phenomenal opportunity for these startups to significantly broaden their networks, refine their business strategies, and absorb extensive wisdom spanning the broad spectrum of pet care.

The stellar 2024 Pet Care Innovation Prize cohort symbolizes the pinnacle of ingenuity currently shaping the gigantic $136.8 billion pet care industry.

Honoring the Rest of the Innovators

The other visionaries who left an indelible mark as recipients of the 2024 Pet Care Innovation Prize are:

• Melbourne, Florida-based SwiftPaws (https://swiftpaws.com) is renowned for its high-quality, American-produced lure coursing kits. The company's commitment to the dual pillars of pet wellbeing – mental and physical – manifest in their line of playful enrichment products. SwiftPaws' notable reputation grew after being featured on the hit show Shark Tank in 2022.

• BestyBnB, situated in Kansas City, Missouri (https://bestybnb.com), bridges a critical gap between human social services and animal welfare organizations. They provide a sanctuary for pets during times when their owners face life's formidable challenges and cannot provide the care needed. By fostering crisis care and creating safety net programs for pets, BestyBnB ensures that individuals can seek assistance with the assurance that their pets are safe and well taken care of.

• Stemming from Chicago, Illinois, Arch Pet Food (https://archpetfood.com) proffers an exotic array of alternative protein pet treats and foods. Working with allergen-friendly and sustainable ingredients like microalgae, insect proteins, and invasive fish species, Arch Pet Food stands as a paragon of nutritional innovation.

• RYERCAT, based in Vancouver, Canada (https://ryercat.com), is poised to redefine feline dental care with their specially designed toothbrush and complimentary dental product line, meticulously tailored for feline anatomy. Birthed from the founders' own trials in maintaining their cats' dental hygiene, RYERCAT endeavors to enhance the teeth brushing experience for both cats and their human companions.

Bill Broun, the co-lead of Purina's 9 Square Ventures division and Vice President of Mergers & Acquisitions and Corporate Venturing at Purina, lauded the passion and innovation presented by all winners. Recognizing VetChip and the class of 2024 as exceptional, he emphasized how the Pet Care Innovation Prize serves as one of the highlights for Purina. It allows the corporation to foster the growth of the entrepreneurial pet care network and unveil novel solutions that profoundly improve the lives of pets and their human partners.

Nurturing Startups through the Pet Care Innovation Prize

The Pet Care Innovation Prize is a beacon of support and networking for startups immersed in the pet care industry offering unique solutions catering to pets and their owners. This initiative spans several domains such as pet health, wellness, services, technologies, and even food. It is the brainchild of a collaboration between Purina's 9 Square Ventures division and the impact investing pioneers at Active Capital. Startups that have previously been graced with this award have attracted significant equity investments and accolades, with some reaching impressive heights such as being acquired or featuring on the famed Shark Tank television series.

The essence of 9 Square Ventures, Purina's venture capital arm, lies in its devotion to connecting with emerging businesses within the pet care industry since its inception in 2014. The team is charged with the noble task of utilizing Purina's vast resources, wealth of knowledge, and experience to mentor burgeoning pet care startups, aiding them in scaling their operations to positively impact a greater number of pets and their human counterparts.

For further details on the Pet Care Innovation program, stakeholders and enthusiasts can visit PetCareInnovation.net.

The Ethos Behind 9 Square Ventures, Active Capital, and Purina

About 9 Square Ventures:

9-Square Ventures stands as an investment pillar of Nestle Purina PetCare, primarily focusing on promising pet food and snack brands. Beyond this, it also evaluates the terrain of other pet care ventures and forward-thinking food technologies.

About Active Capital:

Active Capital is a St. Louis-origin impact investing trailblazer, known for successfully creating synergies between startups and investors, all the while proliferating innovative products and initiatives.

About Purina:

Nestlé Purina PetCare has been synonymous with enriching the lives of pets and their human companions since 1894. The company has pioneered offering scientifically-formulated nutritional advancements aiding in longer, healthier lives for dogs and cats. Notable among its esteemed products are household names like Purina ONE, Pro Plan, Fancy Feast, and Tidy Cats. The company's commitment to high-quality span 10,000 US associates and an impressive array of pet care products that feed millions of pets annually. Committed to responsible pet care, Purina's research, products, and contributions to pet-related organizations are unparalleled. The past five years have seen over $150 million in contributions from Purina toward entities that foster strong bonds between people and pets, as well as community and environmental flourishing.

Purina's legacy is intricately woven into the tapestry of Nestlé, a global frontrunner in Nutrition, Health and Wellness. To stay abreast of the latest happenings at Purina, visit purina.com or subscribe here for the most recent news.

In conclusion, the Pet Care Innovation Prize represents a vital platform for entrepreneurs to translate their inventive ideas into concrete solutions that cater to the dynamic and growing needs of the global pet care market. With the likes of VetChip leading the charge, it is clear that the industry is heading towards a future where technology and care converge to create a new standard in pet welfare.

SOURCE: Purina

VetChip Wins 2024 Purina Pet Care Innovation Grand Prize