PepsiCo goes innovation hunting with 20 tech, media start-ups
July 27, 2010
PepsiCo, Purchase, N.Y., called on 20 promising start-ups in technology, media and communications to present at the inaugural PepisCo10 Summit. The summit is the second phase of the company's new innovation incubator program and a gathering of PepsiCo brand and marketing teams, agency partners and venture capitalists. The 20 presenting entrepreneurs are vying to earn a spot as one of the PepsiCo10, to be matched with industry mentors and to activate pilot programs with PepsiCo brands.
Among the top start-ups are several connected TV technologies, mobile couponing solutions and niche social networking platforms that bring consumers together around common interests like music and sports.
"The top 20 PepsiCo10 finalists are incredibly talented and creative â€” an energizing source of outside innovation that we welcome into our organization," said Seth Kaufman, director of media strategy and investment for PepsiCo North America Beverages, in a statement. "We look forward to hearing their proposals and partnering with them to inspire new approaches and opportunities to engage our consumers and retail partners."
Entrepreneurs were asked to focus PepsiCo10 submissions on one of four innovation segments: social media, mobile marketing, place-based and retail experiential marketing, and digital video and gaming.
"Technology and communications is the meeting place for brand experience today," said B. Bonin Bough, director of digital and social media for PepsiCo, in a statement. "And that is why we created the PepsiCo10 â€” to help foster ideas at that nexus. For our company, social and digital media is a growing business driver, and it is important for us to constantly seek out new partners and opportunities in the space."
The 20 presenting finalists were selected from nearly 500 online submissions and will present at the two-day PepsiCo10 Summit where PepsiCo brand and marketing teams will have the opportunity to vote for their favorites. Up to 10 start-ups will be named as the inaugural PepsiCo10. These organizations will have the opportunity to execute a pilot project with one of the PepsiCo brand teams.