PepsiCo is now receiving applications from entrepreneurs to apply for the PepsiCo Greenhouse Accelerator program. This is a collaborative mentor-led program designed to encourage open innovation with entrepreneurs in the food and beverage sector.
If you run a business relating to health, wellness, food and beverage, this is for you.
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About PepsiCo Greenhouse Accelerator
PepsiCo is a collaborative mentor-led program designed to nurture the growth of emerging purpose-driven health and wellness companies in the food and beverage sector.
Altogether, ten companies will be chosen and will receive a $20,000 grant as well as entry into the 6-month incubator program. Along with the funding, the selected entrepreneurs will benefit from the assistance of PepsiCo experts in areas such as; brand optimization, product development, supply chain management, customer acquisition, and distribution. The program will also address critical early-stage business issues like business planning, corporate structuring, and fundraising.
Then, at the end of the program, one company will be granted an additional $100,000 to support further growth. In accepting the $100,000 grant, the winner will agree to grant PepsiCo exclusive rights for a period of six months to discuss the possibility of an equity investment on mutually agreed terms.
Basically, the PepsiCo Greenhouse Accelerator program is part of PepsiCo’s commitment to encouraging open innovation and to collaborating with the entrepreneurs and innovators that are helping to shape the food and beverage industry.
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Eligibility Criteria
The PepsiCo program is open to food & beverage, ingredient, technology & service entrepreneurs with a market-ready health and wellness product. The product should be a viable proof of concept with in-market results & validation and not be in direct or indirect competition with PepsiCo or any of its products.
Moreso, the program is open to companies and individuals aged 18 or over at the date of entry. However, immediate family members (regardless of where they reside) and/or persons living in the same household, whether or not related, of employees of PepsiCo Inc, its parent, subsidiaries affiliates and advertising and promotion agencies and any third-party companies associated with the program are not eligible to participate.
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Timeline
An independent adjudicator will initially assess entries to determine eligibility for the program. Then, a selection committee made up of industry food and investment experts and PepsiCo professionals will evaluate the submission.
- Greenhouse Accelerator virtual kick-off and orientation event holds on January 13, 2021.
- A virtual mid-term event to share progress updates on or about March 24, 2021
- A virtual final program graduation event and final $100,000 grant recipient announcement celebration on or about June 16, 2021.
Also, all participating companies will be required to sign a Greenhouse Accelerator Participation Grant Acceptance Agreement. The $20,000 grant comes with ‘no strings attached’ except that it may not be used to pay debt or bonuses. And, the $100,000 prize also carries similar restrictions.
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The deadline for application for the PepsiCo Greenhouse Accelerator program is December 7, 2020. So, if you own a company in the listed sector, apply with this link; https://greenhouseaccelerator.com/
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