Part of the second year of the company’s Nutrition Greenhouse incubator programme, PepsiCo is seeking to identify up to 10 emerging brands, with products aimed at European consumers.
The selected companies will receive €20,000 (£17,580) in funding, as well as the opportunity to work alongside experts from the business’ leading brands, including Quaker, Alvalle, Sunbites and Tropicana.
One winning company
Entrepreneurs that get on to the programme will benefit from a six-month mentorship, including one-on-one pairing with PepsiCo executives. At the end of the programme, one winning company will be awarded a €100,000 (£87,904) prize to continue its expansion.
David Schwartz, PepsiCo Europe and Sub-Saharan Africa leader of innovation and new leader of the programme for this year, said: “Now, more than ever, consumers are looking for companies to deliver food and beverages that not only have nutritional value, but also great taste and convenience.
“It’s an exciting time for entrepreneurs in this space and our Nutrition Greenhouse programme is designed to inspire and reflect that excitement.”
This second year of the programme would look at more ways to collaboratively deliver innovations to the market with retailers and possible trials through e-commerce, added Schwartz.
‘Exciting and inspiring precedent’
PepsiCo Western Europe and Sub-Saharan Africa vice president of nutrition Juan Ignacio Amat commented: “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.”
Applications to the programme are open to 11 June 2018. Full terms and conditions and a link to sign up can be found here.
Meanwhile, a £750,000 fund for research into gluten-free food production has been opened to food manufacturers in the UK, launched by the charity Coeliac UK.