PepsiCo launches accelerator program for start-ups in N. America
Following the establishment of an accelerator program in Europe last year, PepsiCo has launched its Nutrition Greenhouse accelerator program in North America, an innovation initiative designed to discover and support emerging brands in the food and beverage sector.
Following the establishment of an accelerator program in Europe last year, PepsiCo has launched its Nutrition Greenhouse accelerator program in North America, an innovation initiative designed to discover and support emerging brands in the food and beverage sector. Brands with a demonstrated consumer sales track record but no more than $5 million in annual revenues are invited to apply at nutritiongreenhouse.com/northamerica by Oct. 12, 2018.
Nutrition Greenhouse will feature a one-on-one mentorship program with PepsiCo executives and brand accelerator experts, whose expertise can help them overcome challenges in marketing, distribution, manufacturing, supply chain, packaging, label claims, fundraising, or other elements of their business.
PepsiCo is seeking 10 start-ups based in the United States or Canada that are helping transform the food and beverage industry and whose values are consistent with PepsiCo’s Performance with Purpose vision. The selected start-ups are guaranteed $20,000 in grant funding and will participate in a six-month business optimization program designed to accelerate growth. 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.
In 2017, eight start-ups in the European program delivered an estimated combined sales growth of over €10 million—a fourfold increase throughout the duration of the six-month program. “The program helped us grow our business and expand into the U.S. market,” said Irina Turcan, founder of Erbology and winner of the 2017 European Nutrition Greenhouse. “It was more than the prize money—our mentor gave us valuable insights on retail and consumer marketing as we extended our ‘powerful plants’ concept into a unique range of snacks. As a result, our revenues grew over four times last year and we launched Erbology in U.S. retailers in June this year.”