In 2017, eight start-ups in the European programme delivered an estimated combined sales growth of over €10 million – a fourfold increase throughout the duration of the six-month programme.
“Nutrition Greenhouse is part of our commitment to open innovation and collaborating with the changemakers of the future,” said Jim Andrew, executive vice-president, corporate strategy and chief venturing officer, PepsiCo.
“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 programme to the United States and Canada and hope to expand it throughout the rest of the world,” he added.
PepsiCo is seeking 10 start-ups based in the United States or Canada that are helping transform the food and beverage industry and whose values are consistent with PepsiCo’s Performance with Purpose vision.
The selected start-ups are guaranteed $20,000 in grant funding and will participate in a six-month business optimisation programme designed to accelerate growth.
The programme includes personalized mentorship with experts from some of PepsiCo’s leading and emerging brands, including Quaker, Naked, KeVita, Stacy’s, Red Rock Deli and Off the Eaten Path.
At the end of the programme, one start-up will be awarded an additional $100,000 in funding to continue its expansion, and an opportunity to continue partnering with PepsiCo to further their growth.
“The programme helped us grow our business and expand into the US market,” said Irina Turcan, founder, Erbology, and winner of the 2017 European Nutrition Greenhouse.
“It was more than the prize money – our mentor gave us valuable insights on retail and consumer marketing as we extended our powerful plants concept into a unique range of snacks. As a result, our revenues grew over four times last year and we launched Erbology in US retailers in June this year,” she added.
This year’s participating PepsiCo executives and brand accelerator experts are eager to help start-ups address critical early-stage business operations like strategic planning, corporate structuring, and fundraising to help emerging brands reach their market potential. Guidance on brand optimisation, product development, supply chain management, customer acquisition and distribution will also be provided.