PepsiCo Inc., Purchase, N.Y., announced the 10 emerging food and beverage brands that will join its first collaborative accelerator program in North America. Each of the 10 participating startups will receive $20,000 in grant funding and participate in a six-month business optimization program. The Nutrition Greenhouse program is designed to accelerate the growth of these startups with personalized mentorship from experts at some of PepsiCo's leading and emerging brands.
The PepsiCo mentors will collaborate with the startups on areas ranging from marketing, distribution, manufacturing, supply chain, packaging, label claims, and fundraising, in addition to addressing other challenges related to growing their business.
At the end of the program, one company will receive an additional $100,000 in funding based on the company's progress, the level of collaboration and partnership with the PepsiCo mentors, and the effective use of the initial $20,000 grant. That company will also have the opportunity to continue partnering with PepsiCo.
The following are the 10 startups:
- Bohana, Boston, a high-protein snack with popped water lily seed. (www.bohanalife.com)
- Hapi Drinks, Austin, Texas, a sugar-free kids’ drink. (www.hapidrinks.com)
- IQ BAR, Boston, a nutrition bar formulated for cognitive energy, function, and health. (www.eatiqbar.com)
- Remedy Organics, Englewood Cliffs, N.J., are plant-based functional beverages made with superfoods, ayurvedic herbs and botanicals as well as protein and probiotics. (www.remedyorganics.com)
- Rule Breaker Snacks, Brooklyn, N.Y., bean-based treats that contain protein and fiber, are gluten free, vegan, non-GMO, and free from the top eight allergens. (www.rulebreakersnacks.com)
- Sophie's Kitchen, Sebastopol, Calif., a plant-based seafood alternative brand with products that are gluten free, soy free, Non-GMO Project Verified, and kosher. (www.sophieskitchen.com)
- Too FIT, Fort Worth, Texas, a lifestyle brand that develops dietary supplements. (https://toofit.com)
- Torii Labs, Calabasas, Calif., a health product company creating plant-based functional beverages. (www.toriilabs.com)
- Wildway, San Antonio, Texas, a better-for-you breakfast and snack food company. (www.wildwayoflife.com)
- YoFiit, Toronto, a plant-based company that offers chickpea-based drinks and nutritional bars containing prebiotics and probiotics. (www.yofiit.com)
The finalists were selected by an external and internal committee of PepsiCo leaders, and were chosen based on their product and brand qualities, focus on consumer nutrition, scalability of their business model and uniqueness in the market, the company says.
"Nutrition Greenhouse was created with the intent of supporting change-making startups of the future," said Daniel Grubbs, managing director of PepsiCo Ventures Group, in a statement. "We are very excited to collaborate with, help grow, and learn from these incredible companies. Each finalist is unique in their own way, but one thing they all share is they're mission-driven and purposeful, which is very much aligned with our own Performance with Purpose agenda."
