PepsiCo’s Green Accelerator to Fund New Sustainability Startups
The APAC edition of the PepsiCo Greenhouse Program aims to give 10 start-ups USD$20,000 in grant funding and mentorship.
PepsiCo announced the launch of the PepsiCo Greenhouse Program – APAC edition. The 2023 program seeks to collaborate and support entrepreneurs who are developing innovative solutions that promote the circular economy for packaging and climate reduction.
As part of its commitment to pep+ (PepsiCo Positive), @PepsiCo’s end-to-end transformation strategy, the company is continuously investing in innovation to reduce environmental impact. The Greenhouse Accelerator Program is an extension of this commitment to drive positive change and foster the growth of startups in the sustainability field.
“The launch of PepsiCo’s Greenhouse Accelerator Program in APAC is a testament to our enduring and continued dedication to sustainability and innovation. As a company, @PepsiCo is acutely aware of its critical role in driving positive change and creating a more sustainable future for all,” said , CEO, APAC, PepsiCo. “The Greenhouse program has been a tremendous source of ideation, talent development, and agility, allowing us to collaborate with like-minded, mission-driven entrepreneurs as they scale innovative ideas to reduce our environmental impact and promote a more resilient future.”
Issuing an open call that starts today, March 20, through May 1, 2023, PepsiCo is seeking 10 start-ups based in the Asia-Pacific region whose solutions integrate purpose into their missions, creating tangible impact for the business, consumers, communities and our planet. The selected start-ups are granted USD$20,000 in funding and will participate in a four-month business optimization program designed to accelerate growth. The program includes personalized mentorship with experts across various PepsiCo functions, including leading and emerging brands, to help address critical early-stage business operations such as strategic planning, corporate structuring, and fundraising. Startups will also have access to brand optimization, product development, supply chain management, customer acquisition and distribution during the program.
At the end of the program, one start-up will be awarded an additional USD$100,000 in funding to continue expansion, and an opportunity to continue partnering with PepsiCo on future projects.
PepsiCo first launched its Greenhouse program in Europe in 2017 and expanded the program to North America in the fall of 2018, and then to AMESA in 2022. The Greenhouse Accelerator program is in its 7th year and has seen 58 emerging start-up brands deliver an estimated combined sales growth of over USD $8MM in revenue.
Like many other companies, PepsiCo has embarked on the journey of running there own startup accelerator programs due to the many benefits and strategic advantages these type of programs offer. Among the main ones worth mentioning are:
- Access to innovative ideas and technologies: Startups are known for their disruptive and innovative ideas. By running an accelerator program, companies can gain access to these ideas and technologies that can help them stay ahead of the competition.
- Opportunity to invest in promising startups: Running an accelerator program provides companies with the opportunity to invest in promising startups that align with their strategic goals. These investments can potentially provide significant returns in the future.
- Potential for new revenue streams: By investing in startups and partnering with them, companies may be able to create new revenue streams and expand their offerings.
- Increased brand awareness: Hosting an accelerator program can help a company build its brand and reputation as an innovative leader in its industry. This can help attract talented employees, customers, and potential investors.
- Collaborative opportunities: Accelerator programs can bring together entrepreneurs, industry experts, and investors in a collaborative environment. This can lead to new partnerships, collaborations, and business opportunities.
- Enhanced internal innovation: The accelerator program can serve as a source of inspiration and learning for company employees, promoting internal innovation and creativity.
Finally, running a startup accelerator program can be a significant investment for companies, both in terms of time and resources. The actual cost of running an accelerator program can vary widely depending on several factors, including the size and scope of the program, the level of support (space and facilities, technology, investment capital, marketing and promotion etc.) offered to participating startups, and the duration of the program. However, despite the significant costs associated with running such a program, many companies view them as a worthwhile investment due to the potential benefits they can provide.
Ed. For applicant information and additional detail on this year’s PepsiCo Greenhouse program, please visit https://greenhouseaccelerator.com/apac/, and follow PepsiCo on Twitter and LinkedIn. Featured images, credit to https://greenhouseaccelerator.com/