PepsiCo Launches Greenhouse Accelerator Program: Juntos Crecemos Edition to Identify and Uplift Emerging Hispanic-Owned Food and Beverage Start-Ups

Rhea-AI Summary

PepsiCo has launched the Greenhouse Accelerator Program: Juntos Crecemos Edition, aimed at supporting Hispanic-owned food and beverage startups. Announced on April 10, 2023, this program offers a $20,000 grant and a six-month mentorship to ten selected businesses. This initiative is part of PepsiCo's broader $50 million commitment to aid diverse suppliers through its Racial Equality Journey.

The selected startups will tackle various business challenges with guidance from PepsiCo mentors, culminating in a virtual presentation of their progress in August. An additional $100,000 will be awarded in November to the most promising business, aiding further expansion.

PepsiCo aims to foster innovation and collaboration within the Hispanic food and beverage industry, reinforcing its commitment to uplifting diverse entrepreneurs.

Positive

• Launch of Greenhouse Accelerator Program focused on Hispanic-owned businesses.
• Ten businesses to receive $20,000 grants and six months of mentorship.
• Potential for an additional $100,000 grant for the top business in November.
• Part of PepsiCo's $50 million commitment to support diverse suppliers.

Negative

• None.

Hispanic-owned businesses providing food and beverage innovations, products and services invited to apply to join a six-month, mentor-guided program and receive a $20,000 grant to accelerate their businesses and transform the way consumers live their lives

PURCHASE, N.Y., April 10, 2023 /PRNewswire/ -- Today, PepsiCo, Inc. (NASDAQ:PEP) announced the launch of its Greenhouse Accelerator Program: Juntos Crecemos (Together We Grow) Edition. This year marks the eighth year of the Greenhouse Accelerator program, and the first-ever Hispanic edition, which focuses on driving growth of emerging Hispanic-owned food and beverage businesses through collaboration and innovation.

Beginning today, emerging Hispanic-owned food and beverage businesses making or selling consumer goods or providing food and beverage services across the country can apply to the Greenhouse Accelerator: Juntos Crecemos Edition program. From the pool of applicants, PepsiCo will select ten high-potential brands, products and/or foodservice concepts to join the Greenhouse Accelerator program in June. The ten innovators will receive $20,000 in grant funding and participate in a six-month business program designed to accelerate their growth through personalized mentorship. PepsiCo mentors will collaborate with the selected start-ups to solve a range of business challenges, including brand development, scaling technology, business model development, product optimization and go-to-market strategy.

The companies will execute an initiative to demonstrate collaboration and tangible results, and in August, they will share their initiative progress and present updates in a virtual event to the evaluation committee. In November, the highest potential business will be awarded by an expert selection committee an additional $100,000 to continue its expansion and an opportunity to continue working with PepsiCo and Juntos Crecemos to further their growth.

"In line with PepsiCo's Racial Equality Journey goals to support and uplift diverse suppliers, this year we chose to focus on Hispanic-owned entrepreneurs," said Esperanza Teasdale, Vice President & General Manager, Hispanic Business Unit, PepsiCo Beverages North America. "We are extremely excited and proud to offer diverse companies an opportunity to grow their businesses with our support, especially emerging food and beverage brands. Through our mentorship program and grants we hope to see these businesses grow and further expand within the food and beverage industry."

Together with PepsiCo Juntos Crecemos, a multifaceted platform that is part of PepsiCo's $50 million Racial Equality Journey commitment aimed to provide short and long-term support to Hispanic-owned food and beverage small businesses over five years, PepsiCo looks to get closer to and support the emerging Hispanic food and beverage industry. PepsiCo values being at the forefront of innovation and collaboration with emerging brands and companies, while supporting and uplifting diverse suppliers.

"PepsiCo is continually looking for ways to expand access to small businesses and entrepreneurs, particularly within communities of color," said Antonio Escalona, Senior Vice President & General Manager, Hispanic Business Unit, PepsiCo Foods North America. "Knowing that Juntos Crecemos looks to help Hispanic entrepreneurs further grow their businesses, we saw an opportunity to collaborate with the Greenhouse Accelerator program to uncover emerging Hispanic-owned food and beverage brands, innovations and services, and help them realize their business goals, while supporting the Hispanic community."

The Greenhouse Accelerator program first launched in Europe in 2017 and expanded to North America in 2018. Over the years, the program has evolved to support the innovators and entrepreneurs that appeal to consumer needs, including sustainability and nutrition solutions. This is the eighth Greenhouse Accelerator program, and the objective remains the same: to support entrepreneurs in their growth. To learn more about the PepsiCo Greenhouse Accelerator: Juntos Crecemos Edition and how to apply, visit: https://greenhouseaccelerator.com/juntos-crecemos/.

About PepsiCo
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $86 billion in net revenue in 2022, driven by a complimentary beverage and convenient foods portfolio that includes Lay's, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, Quaker, and SodaStream. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including many iconic brands that generate more than $1 billion each in estimated annual retail sales.

Guiding PepsiCo is our vision to Be the Global Leader in Beverages and Convenient Foods by Winning with pep+ (PepsiCo Positive). pep+ is our strategic end-to-end transformation that puts sustainability and human capital at the center of how we will create value and growth by operating within planetary boundaries and inspiring positive change for planet and people. For more information, visit www.pepsico.com, and follow on Twitter, Instagram, Facebook, and LinkedIn @PepsiCo. 

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SOURCE PepsiCo, Inc.

FAQ

What is the Greenhouse Accelerator Program: Juntos Crecemos Edition by PepsiCo?

It's a mentorship program for Hispanic-owned food and beverage startups offering $20,000 in grants and six months of support.

When was the Juntos Crecemos Edition program announced?

It was announced on April 10, 2023.

How much funding can businesses receive through the Juntos Crecemos program?

Selected businesses can receive $20,000, with a possibility of an additional $100,000 for the top business.

Who can apply for PepsiCo's Greenhouse Accelerator Program?

Emerging Hispanic-owned food and beverage businesses can apply for the program.

What is the goal of PepsiCo's Racial Equality Journey in relation to this program?

The goal is to support and uplift diverse suppliers, particularly Hispanic entrepreneurs in the food and beverage sector.