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.
“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, added: “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.
“In year two, we will explore more ways to collaboratively deliver great innovations to the market, with the opportunity to explore potential collaboration with leading retailers and/or possible trials through e-commerce.”
© FoodBev Media Ltd 2018
World Beverage Innovation Awards are now open!
Do you have a beverage product worthy of an innovation award? Then you’re invited to enter the World Beverage Innovation Awards. Click here to find out more.