The 2020 finalists will receive a 'no strings attached' $20,000 in funding and participate in a six-month programme designed to accelerate growth.
Each will be paired with a PepsiCo mentor, and the team will be challenged to demonstrate collaboration and measurable progress, with full access to PepsiCo's experience on product development, branding & marketing, sales & distribution, e-commerce, R&D, media relations and other disciplines.
The start-ups will also receive invaluable personalised mentorship from some of PepsiCo's leading brands, like Stacy’s and KeVita, to help address early-stage operations like strategic planning, corporate structuring and fundraising.
All 10 finalists will also be expected to participate in three events:
- Greenhouse Accelerator kick-off event at PepsiCo's headquarters in Purchase, New York, on February 4, 2020
- Mid-term event at PepsiCo's headquarters on April 25th, 2020
- Graduation at Frito-Lay's headquarters in Plano, Texas, on July 15, 2020.
Looking for like-minded, mission-driven entrepreneurs
At the end of the programme, one start-up will be awarded an additional $100,000 in funding and the opportunity to partner with PepsiCo to further its growth.
PepsiCo initially launched its greenhouse programme in Europe in 2017 and expanded it to North America last year. Collectively, the 10 participating companies in the inaugural North America class grew average revenues of 200% during the programme with new product launches, digital campaigns and customer acquisitions.
“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,” said Jim Andrew, PepsiCo EVP, corporate strategy and chief venturing officer.
Deadline for entry into the 2020 programme is January 6, 2020.