PepsiCo calls for entries for Greenhouse Accelerator
PepsiCo has invited entrepreneurs within the food beverage production industry in Africa, Americas, Antarctica Region, Asia, Europe and Oceania to apply for its greenhouse accelerator programme.
The goal is to “Identify and support the acceleration of emerging and disruptive brands, ingredients, technologies and services that are transforming the way consumers eat, drink and live their lives through a collaborative and mentor-guided business acceleration programme.”
10 innovators will be selected for the 6 months program, with guidance from experienced PepsiCo team. Giving them “access to subject matter experts, resources and a curriculum of business and training modules,” they would be encouraged to cooperate and measurable progress as progress will be measured and determined by mutually predetermined plans.
“The team will be challenged to demonstrate collaboration and measurable progress, based on a mutually developed action plan. Companies will have access to subject matter experts, resources and a curriculum of business and training modules, and will also be able to collaborate with other participating companies.”
“Companies will benefit from PepsiCo research & development experience as well as perspectives on business models, product development, science & regulatory practices, market activation and other disciplines,” Pepsico further explained.
Participating team will be given a $20,000 grant to “plan and execute an initiative” and will be examined based on their level of progress, collaboration and how effective the team utilize $20,000. The winner will be awarded a $100,000 prize.
“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. The $100,000 prize also carries similar restrictions.”
The event will virtually kick-off on January 13, 2021, when participants will give a brief presentation about their companies. On March 24, 2021, a virtual mid-term evaluation will be held. “A virtual final program graduation event and final $100,000 grant recipient announcement celebration on or about June 16, 2021.”
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