PepsiCo has announced the launch of its second greenhouse programme in North America, an initiative designed to support emerging entrepreneurs and brands in the food and beverage industry.
The 2020 programme seeks to collaborate with purpose-driven brands at the forefront of transformative trends that are changing the way consumers eat and drink.
Issuing an open call today until 6 January 2020, PepsiCo is seeking ten start-ups based in the US or Canada whose businesses or brands “integrate purpose into their offering”.
The selected start-ups are granted $20,000 in funding and will participate in a six-month business optimisation programme designed to accelerate growth.
The initiative includes personalised mentorship with experts across PepsiCo functions and from some of its leading and emerging brands, such as Stacy’s and KeVita, to help address early-stage business operations like strategic planning, corporate structuring and fundraising.
Guidance on brand optimisation, product development, supply chain management, customer acquisition and distribution will also be provided.
At the end of the programme, 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.
Jim Andrew, PepsiCo executive vice president, corporate strategy and chief venturing officer, said: “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.”
PepsiCo first launched its greenhouse programme in Europe in 2017 and expanded it to North America in the autumn of 2018, awarding Texas-based Hapi Drinks, a sugar-free kids drinks company founded with the mission to fight childhood obesity, as the winning brand.
Collectively, the ten participating companies in the inaugural North America class grew average revenues of 200% during the six-month duration of the programme.