PepsiCo has announced the second year of its Nutrition Greenhouse incubator programme, an initiative designed to discover and nurture breakthrough brands in the food and beverage sector. The company has issued an open call for entrepreneurs to apply for the programme.
PepsiCo will identify up to 10 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 apply by June 11, 2018.
In addition to the initial €20,000 grant, each of the entrepreneurs selected will benefit from a 6-month mentorship programme, featuring one-on-one pairing with PepsiCo executives, whose industry expertise can help the entrepreneurs overcome immediate market challenges to achieve accelerated growth.
At the end of the programme, one winning company will be awarded a €100,000 prize to continue its expansion.
The programme, which launched in 2017, saw eight companies achieve estimated combined growth of over €10 million – a fourfold increase in sales over its duration. 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.
“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 Nutrition for PepsiCo Western Europe and Sub-Saharan Africa.
“The start-up class of 2017 set an exciting and inspiring precedent for this year’s programme, with strong growth seen across all eight companies. 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. We can’t wait to collaborate with and learn from those that share this vision.”
David Schwartz, Leader of Innovation at PepsiCo Europe & Sub-Saharan Africa, will be the new leader of the programme for this year.