Meet Sacha Bigiaoui from Petty Well
Q: Can you briefly introduce yourself and your startup?
A: My name is Sacha Bigiaoui, and I am the co-founder and CEO of Petty Well. We specialize in creating and selling pet food for dogs and cats, primarily operating online and, more recently, venturing into retail for the past two years.
Q: What inspired the business idea behind Petty Well?
A: It all began five years ago when my business partner’s dog, Oona, faced digestive and skin issues. Concerned about the quality of pet food, my partner delved into understanding the ingredients in the food given to animals, not just in France but globally. The lack of transparency in the industry prompted us to question the benefits of various components in pet food. This exploration led to the inception of Petty Well, offering a transparent, traceable, and customer-centric approach to pet nutrition—a departure from the conventional practices in the industry.
Why Leap?
Q: How did Leap come into the picture?
A: About a year and a half ago, I stumbled upon a LinkedIn post discussing the Leap program. Intrigued by the possibilities, I decided to apply. Fortunately, we were selected as part of the first cohorts in Europe, and since then, we’ve been actively involved in their incubator. The experience has been fascinating—Leap provides an excellent network, a remarkable team, and valuable insights. They’ve been instrumental in generating ideas and offering constructive feedback.
Q: Did you have to apply, and what did the application process entail?
A: Yes, I had to create a comprehensive file describing my company with images, sentences, extensive text, and key performance indicators (KPIs). The process also involved multiple rounds of interviews with the Leap team, and fortunately, my company was selected.
Daily Dynamics within Leap Program and the Funding Experience
Q: Once you got in, what was a typical day like, and how was the program structured?
A: The process began with a thorough exchange of information before the selection, involving three rounds of interviews that were more like discussions rather than just Q&A sessions. Once accepted, there was an intensive one-week program in London, bringing together all the teams and companies from the incubator.
Q: Can you elaborate on the activities during the program?
A: The program included numerous networking and work sessions. One notable aspect was the invaluable support they provided by leveraging their extensive network. Being affiliated with Mars Pagecare, they have connections spanning from the US to Europe, offering assistance on specific key issues faced by the participating companies.
Q: Do you receive funding as part of the program, and what is the process for equity?
A: Absolutely, the program includes an investment of $200,000 per company. This investment, however, comes in exchange for equity.
Q: Is there a standard equity they take from each company, or is there room for negotiation?
A: I attempted to negotiate, but given the diverse legal frameworks within the first European cohort, the standard equity terms vary. In my case, we utilized a financial instrument specific to France for their investment, but I wonder if the same applies in other countries like Germany or Denmark.
Standout Features and Impact of Leap Program
Q: What would you say is the standout feature of the program?
A: Initially, what attracted me was Mars’ involvement and the positive impression I had of the entire Leap team, including Dilan and Rachel. While I didn’t join for the funding, which my profitable company didn’t necessarily need, I appreciated the additional resources for both financial investment and network building. During the one-week London session, what truly impressed me was their ability to gather past founders from the program. These founders, some having sold their companies to Mars, provided valuable insights and testimonials about their post-program experiences. It was an enlightening experience.
Q: On the flip side, were there any aspects of the program that you found disappointing or underwhelming?
A: Honestly, it was a pleasant surprise for me. As my first experience with a large incubator and working with US counterparts, I expected potential cultural differences, but it was a good fit. If there’s anything slightly disappointing, it’s more on a personal level—I didn’t maintain as much contact with other companies after the program. While we initially chatted for a few weeks, the ongoing connections faded over time.
Q: Moving forward, what’s the status of your company post-accelerator, and do you attribute many of your achievements to the program?
A: Participating in the program opened my mind to new ideas and channels. For instance, discussions during the program influenced our decision to venture into retail in France, which has proven successful. While Mars didn’t directly open doors for us in retail, the program sparked ideas and motivation for initiatives I might not have pursued otherwise.
Q: What are the next milestones for your company, and do you believe the program has prepared you for them?
A: Last year, profitability was a crucial milestone, and the program helped us achieve that. Going forward, our focus is on increasing profitability and expanding our strategy in retail. The network provided by Mars is expected to play a crucial role in opening doors for networking and supporting these next milestones.
Advice for Prospective Applicants
Q: What final piece of advice would you give to anyone looking to apply to the accelerator program?
A: I highly recommend applying to the program. Entrepreneurship can be isolating, and realizing that others share similar challenges is reassuring. Joining a community where people face and conquer comparable issues can be immensely beneficial. It provides not only a network but also a space to exchange solutions. In this regard, integrating into this incubator makes a lot of sense. I also want to express my gratitude to the team—they were exceptional. Their availability and willingness to address any question, regardless of how basic, created a supportive environment. I wholeheartedly recommend the Leap accelerator program to the network, community, and dedicated team.