PepsiCo’s quest to identify the brightest entrepreneurs in the food and beverage industry continues with its Nutrition Greenhouse accelerator program. Modeled after the wildly successful European program of the same name, Nutrition Greenhouse is seeking out startups with a special focus on nutrition, performance, lifestyle, and purpose.
Nutrition Greenhouse
Through the program, PepsiCo is using their vast network and resources to hold the door open for forward-thinking companies dedicated to shaping the future of the industry. Jim Andrew, executive VP, Corporate Strategy and Chief Venturing Officer says, “We want to find and support entrepreneurs who are helping transform the food and beverage industry with nutritious, natural, and sustainable products.”
This year, ten startups from the U.S. and Canada will be selected to participate in the program. Each company will receive $20,000 in grants funding six months of one-on-one mentoring from PepsiCo executives who specialize in marketing, manufacturing, distribution, and supply chain management. And at the end, PepsiCo will choose one standout company to receive an additional $100,000 and an opportunity to continue working with the beverage giant or its affiliated companies.
Despite the sizable reward, participating companies won’t be pitted against each other or working in a silo. Instead, they’ll be encouraged to work together. “We recognize that successful great ideas come through collaboration,” says Daniel Grubbs, Managing Director of PepsiCo Ventures Group.
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This isn’t PepsiCo’s maiden voyage with accelerators in North America. “The Hive” incubator is supporting businesses that can help the beverage giant fill its own product gaps in the health food space. PepsiCo’s leaders also recently announced its partnership with Chicago incubator “The Hatchery.”
PepsiCo is using these programs not only to support young businesses that may not have their own resources, but also to inform decisions about their own product portfolio. The information they gather by collaborating with the bright minds they invite into their accelerators and incubators will be invaluable, especially since America’s hunger for health, sustainability, and corporate responsibility continues to grow.
