Market research
PepsiCo has kicked off the second round of its entrepreneur-focused funding project in North America, with a total of US$300,00 set aside for successful businesses.
The 'Greenhouse' programme, which initially launched in Europe two years ago before reaching North America in late-2018, is returning for its second year. Ten start-ups from either the US or Canada will be selected to receive $20,000 each from PepsiCo, with one company set to win a further $100,000. Also included for each of the ten is a six-month "business optimisation programme" organised by the drinks and snacks giant.
The latest round "seeks to collaborate with purpose-driven brands at the forefront of transformative trends that are changing the way consumers eat and drink," PepsiCo said yesterday.
Companies have until 6 January to apply via www.greenhouseaccelerator.com.
Jim Andrew, PepsiCo's executive VP of corporate strategy & chief venturing officer, added: "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."
Last year's inaugural programme in North America resulted in Texas-based Hapi Drinks winning the top prize. The company produces a line of sugar-free drinks for children. The ten selected companies in 2018 subsequently increased their average sales by 200% during PepsiCo's six-month mentorship.
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Sectors: Soft drinks, Water
Companies: PepsiCo
