Multinational food and drinks company PepsiCo has launched a new incubator programme for health food and drinks producers.
The company has called for entrepreneurs to take part in the PepsiCo Nutrition Greenhouse, a programme to find and nurture the best emerging nutrition, health and wellness brands in the food and drinks space.
With a focus on products designed for European consumers, the programme will aim to find up to eight exciting new brands, with selected ventures in line to receive grant funding, and the chance to partner with PepsiCo industry experts.
Each chosen business will claim a €25,000 PepsiCo grant and gain entry to a six-month incubator programme, where company founders will be paired with company executives to address their brand’s immediate market challenges and accelerate their growth.
At the end of the six-month programme, one winning company will receive a further €100,000 PepsiCo grant to continue its expansion. After the programme, the multinational will gain exclusive rights to make an equity investment in the winning product, for a six-month period.
The programme is open to food and drinks businesses with an annual turnover of under €2m, and whilst companies based in any country are eligible to apply, their products must cater to European consumers.
Commenting on the launch of the initiative, PepsiCo vice president, Juan Ignacio Amat, said:“Consumer demand for more nutritious foods and beverages continues to rise and this is an exciting space for our industry.
“We have a tremendous opportunity to use our global scale and resources to influence positive change and our ‘Nutrition Greenhouse’ programme aims to help nurture some of the best and brightest entrepreneurs in the food and beverage sector.”
Depending on their product and type of business, participating entrepreneurs will benefit from expertise from the pool of partner brands PepsiCo operates. These include well-known household favourites like Quaker, Naked and Tropicana. Applications to the PepsiCo Nutrition Greenhouse are open until 15 May.
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