Application Deadline: October 12th, 2018:
PepsiCo has launched an open call for entrepreneurs to take part in the PepsiCo Nutrition Greenhouse North America, a collaborative incubator program designed to nurture the growth of emerging nutrition and health and wellness brands in the US and Canadian food and beverage sector.
Ten companies will be chosen and receive $20,000 as well as entry into the 6-month incubator program. Along with the funding, the selected entrepreneurs will benefit from the assistance of PepsiCo experts in areas such as brand optimization, product development, supply chain management, customer acquisition and distribution. The program will also address critical early-stage business issues like business planning, corporate structuring and fundraising.
At the end of the program, one company will be granted an additional $100,000 to support further growth. In accepting the $100,000 grant, the winner will agree to grant PepsiCo exclusive rights for a period of six months to discuss the possibility of an equity investment on mutually agreed terms.
The PepsiCo Nutrition Greenhouse program is part of PepsiCo’s commitment to open innovation and to collaborating with the entrepreneurs and innovators that are helping to shape the food and beverage industry.
The full terms and conditions for the program are available here.
The program is open to nutrition entrepreneurs with a market-ready health and wellness brand. The brand should have sales of $5 million or less and not be in direct or indirect competition with PepsiCo or any of its brands.
The program is open to companies and individuals aged 18 or over at the date of entry. Immediate family members (regardless of where they reside) and/or persons living in the same household, whether or not related, of employees of PepsiCo, Inc, its parent, subsidiaries, affiliates, and advertising and promotion agencies and any third party companies associated with the program are not eligible to participate.
An independent adjudicator will initially assess entries to determine eligibility for the program and then a selection committee made up of industry food and investment experts and PepsiCo professionals will evaluate submission based on the following:
Product and brand qualities: based on nutrient profile, potential health claims, natural or organic sourcing, clean label and other factors that appeal to consumers, as well as the obvious qualities of taste, brand presentation and value for price.
A clear focus on consumer health: includes human performance, condition- specific functionality and healthy lifestyles and life stages.
Scalable business model.
Uniqueness in the market.
HOW IT WORKS
Nutrition Greenhouse is a 6-month program where 10 selected companies will be paired with a lead PepsiCo mentor, and the team will be challenged to demonstrate collaboration and measurable progress. Companies will have access to a full library and curriculum of business resources and training modules, and will also be able to collaborate with each other. Companies will benefit from PepsiCo experience and perspective on product development, branding & marketing, sales & distribution, e-commerce, R&D, media relations and other disciplines.
Participating companies and their mentors will plan and execute an initiative using a $20,000 grant to demonstrate collaboration and tangible results in an entrepreneurial fashion. An evaluation committee made up of a third party adjudicator, PepsiCo business units and the PepsiCo Ventures Group will award a $100,000 prize to one winning company based on the company’s progress, level of collaboration and effective use of the $20,000 grant.
All 10 participating companies will be required to participate in three events:
Nutrition Greenhouse kick-off event at PepsiCo headquarters in Purchase NY on November 6, 2018.
Mid-term event at Frito-Lay Headquarters in Plano TX on or about January 29, 2019
Final program graduation event and final $100,000 grant recipient announcement meeting in Chicago on or about April 16, 2019
All participating companies will be required to sign a Nutrition Greenhouse Participation Grant 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 and allows PepsiCo an exclusive period of six months to discuss further partnership opportunities with PepsiCo or any of its affiliated companies.