USA – PepsiCo has announced the second year of its Nutrition Greenhouse incubator programme, an initiative aimed at enhancing food innovation and nurturing both big and small entrepreneurs in the nutrition, health and wellness sectors.
Calling for applications, PepsiCo said the programme will identify up to ten emerging brands in the nutrition space with products aimed at European consumers.
Apart from US$23,493.06 in funding, selected companies with preferably US$5.87 million or less in sales will be given access to PepsiCo’s team of experts from its leading brands including Quaker, Alvalle, Sunbites and Tropicana.
The selected entrepreneurs will benefit from a six-month mentorship programme, featuring one-on-one pairing with PepsiCo executives and at the end of the scheme, one winning company will be awarded a US$117,441.90 prize to continue its expansion.
PepsiCo launched the incubator programme which it said leaned on rising consumer demand for more nutritious food and beverage.
It gives emerging brands on areas such as brand optimization, product development, supply chain management, customer acquisition and distribution.
“We are delighted to be returning with our Nutrition Greenhouse programme for a second year.
Our overarching goal remains the same – to partner with the best and brightest food and beverage entrepreneurs in Europe and give them the opportunity to bring their products to the world on a global scale,” said Juan Ignacio Amat, vice president of nutrition for PepsiCo Western Europe and Sub-Saharan Africa.
“At PepsiCo, we recognise the important opportunity we have to nurture the nutrition brands of the future and shape the direction of our industry, as part of our Performance with Purpose vision.”
Brands which were selected last year included makers of insect snacks, seaweed protein and Nordic birch water.
PepsiCo said the second round will include a broader focus on nutrition beyond health and wellness, towards brands that tap into key lifestyle trends, enable personal performance or are purpose-driven.
In a bid to deliver strong financial returns in a way that is sensitive to societal needs, the company launched its ‘Performance with Purpose’ programme in 2016.