Soft drinks giant PepsiCo is running the second year of its Nutrition Greenhouse incubator program, an initiative designed to discover and nurture breakthrough brands in the food and beverage sector, with up to ten nutrition-focused start-ups sharing €300,000 (US$355,292) grant and prize money.
PepsiCo is looking for entrepreneurs to apply and wants to identify up to ten emerging brands in the nutrition space with products aimed at European consumers. Each selected start-up will be given a €20,000 (US$23,690) worth of funding and the chance to work alongside experts from some of PepsiCo’s leading brands including Quaker, Alvalle, Sunbites and Tropicana.
Brands that are currently delivering sales of less than €5 million (US$5.9 million) can apply by June 11, 2018.
Each selected entrepreneurs will also benefit from a six-month mentorship program featuring one-on-one pairing with PepsiCo executives. They will be given advice and guidance from the industry experts who can help the entrepreneurs overcome immediate market challenges to achieve accelerated growth.
At the end of the program, one winning company will be awarded a €100,000 (US$118,510) prize to continue its expansion.
The PepsiCo Nutrition Greenhouse program is part of PepsiCo’s commitment to open innovation and collaborate with the food and beverage changemakers of the future.
Initially launched in 2017, the program has seen eight companies achieve an estimated combined growth of more than €10 million (US$11.8 million) – a fourfold increase in sales over its duration.
Year two will include a broader focus on nutrition beyond health and wellness and towards brands that tap into key lifestyle trends, enable personal performance or are purpose-driven.
“We are delighted to be returning with our ‘Nutrition Greenhouse’ program 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 Nutrition for PepsiCo Western Europe and Sub-Saharan Africa, program sponsor.
“The start-up class of 2017 set an exciting and inspiring precedent for this year’s program with strong growth seen across all eight companies. At PepsiCo, we recognize 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. We can’t wait to collaborate with and learn from those that share this vision.”
David Schwartz, Leader of Innovation, PepsiCo Europe & Sub-Saharan Africa, and the new leader of the program for this year adds how consumers are looking for companies to deliver food and beverages that, not only have nutritional value but are also great in taste and convenience.
“It’s an exciting time for entrepreneurs in this space and our Nutrition Greenhouse program is designed to inspire and reflect that excitement,” he said.
“In year two, we will explore more ways to collaboratively deliver great innovations to the market, with the opportunity to explore potential collaboration with leading retailers and possible trials through e-commerce.”
The PepsiCo Nutrition Greenhouse will also address critical early-stage business issues such as business planning, corporate structuring and fundraising to help emerging brands reach their market potential. Guidance on brand optimization, product development, supply chain management, customer acquisition, distribution and much more will also be available.