PepsiCo Inc., Purchase, N.Y., announced the launch of its second PepsiCo Greenhouse program in North America, an innovation initiative designed to support emerging entrepreneurs and brands in the food and beverage industry. The 2020 program seeks to collaborate with purpose-driven brands at the forefront of transformative trends that are changing the way consumers eat and drink.
“As part of our vision to be the ‘Global Leader in Convenient Foods and Beverages by Winning with Purpose,’ we are integrating purpose into the core of our business and our brands,” said Jim Andrew, PepsiCo executive vice president of corporate strategy and chief venturing officer, in a statement. “Since its inception, the PepsiCo Greenhouse has been a great source of ideation, talent development and agility, while also providing an opportunity to collaborate with like-minded, mission-driven entrepreneurs as they develop and scale their innovative ideas that look to improve the way we shop and eat, offer new choices to consumers and solve the needs of our communities.”
Issuing an open call today through Jan. 6, PepsiCo sought out 10 start-ups based in the United States or Canada whose businesses or brands integrate purpose into their offering, meeting the needs of current and future consumers, communities and/or our planet. The selected start-ups are granted $20,000 in funding and will participate in a six-month business optimization program designed to accelerate growth. The program includes personalized mentorship with experts across PepsiCo functions to help address critical early-stage business operations. Guidance on brand optimization, product development, supply chain management, customer acquisition and distribution also will be provided.
At the end of the program, one start-up will be awarded an additional $100,000 in funding to continue its expansion and an opportunity to continue partnering with PepsiCo to further their growth. BI
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