PepsiCo Inc. said Sept. 6 that it launched its Nutrition Greenhouse accelerator program in North America in a move to find and support emerging brands in the food and beverage industry.
The company is looking for 10 startups based in the U.S. or Canada that line up with PepsiCo's Performance with Purpose initiative.
The selected startups will be given $20,000 each and will participate in a six-month business optimization program which seeks to enable accelerated growth.
The Nutrition Greenhouse program will also offer a one-on-one mentorship program with experts from PepsiCo's leading brands, including Quaker, Naked, KeVita, Stacy's, Red Rock Deli and Off the Eaten Path.
PepsiCo will grant, at the end of the program, one startup an additional $100,000 in funding to continue its expansion, and an opportunity to collaborate with PepsiCo.
In 2017, PepsiCo launched its Nutrition Greenhouse program in Europe, which saw eight startups deliver an estimated combined sales growth of more than €10 million, the company said.