USA – PepsiCo, an American multinational food, snack, and beverage corporation, has announced that it will introduce its Nutrition Greenhouse start-up accelerator programme in the US, following the success of the scheme in Europe.
According to FoodBev, the programme aims to find and support ten emerging brands in the food and beverage sector who have developed particularly innovative nutritious, natural and sustainable product concepts which could help to transform the industry.
The European Nutrition Greenhouse scheme is currently in its second year, and this year’s programme featured brands who have produced products such as non-alcoholic wine, vegan-friendly drink capsules and soy-free fermented dairy alternatives.
The company reported that the selected start-ups will receive US$20,000 in grant funding and will participate in a six-month business optimisation program, which is designed to accelerate the growth of successful applicants.
Companies will receive advice from PepsiCo mentors from a number of PepsiCo’s leading brands, including Quaker, Naked, KeVita, Stacy’s, Red Rock Deli and Off the Eaten Path.
Once the programme has concluded, one start-up will receive a further $100,000 in funding to continue its expansion, as well as an opportunity to continue their partnership with PepsiCo to further their future growth.
PepsiCo says that it is looking for companies with a demonstrated consumer sales track record, but which registered sales of US$5 million or less.
Jim Andrew, PepsiCo executive vice-president, corporate strategy and chief venturing officer said: “Nutrition Greenhouse is part of our commitment to open innovation and collaborating with the change-makers of the future.
“In line with our Performance with Purpose vision, we want to find and support entrepreneurs who are helping transform the food and beverage industry with nutritious, natural and sustainable products.
We’re very excited to bring this program to the US and Canada and hope to expand it throughout the rest of the world.”