PepsiCo today announced the second year of its Nutrition Greenhouse incubator scheme, an initiative designed to discover and nurture breakthrough brands in the food and beverage sector.
Issuing an open call for entrepreneurs to apply, PepsiCo is seeking to identify up to ten emerging brands in the nutrition space with products aimed at European consumers.
The selected companies will receive €20,000 in funding as well as the opportunity to work alongside experts from some of PepsiCo’s leading brands including Quaker, Alvalle, Sunbites and Tropicana. Brands currently delivering sales of €5 million or less are invited to find out more.
In addition to the initial €20,000 grant, each of the entrepreneurs selected will benefit from a six-month mentorship programme, featuring one-on-one pairing with PepsiCo executives. At the end of the scheme, one winning company will be awarded a €100,000 prize to continue its expansion.
The initiative, which launched last year, has seen eight companies achieve estimated combined growth of over €10 million – a fourfold increase in sales over its duration. Brands which were selected last year included makers of insect snacks, seaweed protein and Nordic birch water.
Year two 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.
Juan Ignacio Amat, vice president of nutrition for PepsiCo Western Europe and Sub-Saharan Africa, said: “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.
Read more at FoodBev.com: https://www.foodbev.com/news/pepsico-launches-second-year-brand-incubator-programme/