PepsiCo Launches "Taste of Tomorrow" to Bring Flavor and Funding to HBCU Students in STEM

Rhea-AI Summary

PepsiCo (PEP) has launched 'Taste of Tomorrow', a $350,000 initiative to increase Black representation in STEM careers, focusing on food science and technology at Historically Black Colleges and Universities (HBCUs). The program includes:

1. $250,000 in scholarships for STEM students across 9 HBCUs for the 2025 school year.

2. $100,000 for STEM resources at Florida A&M University and Prairie View A&M University.

3. R&D educational workshops and on-campus culinary innovations by Pepsi Zero Sugar and Doritos.

The initiative aims to address the underrepresentation of Black professionals in STEM, who currently make up only 9% of the workforce. PepsiCo is partnering with rapper and HBCU alum 2 Chainz to promote the program and inspire students.

Positive

• Investment of $350,000 in STEM education and resources for HBCUs
• Potential to increase diversity in PepsiCo's talent pipeline
• Partnership with celebrity spokesperson (2 Chainz) to promote the initiative

Negative

• None.

Insights

Corporate Social Responsibility Expert

PepsiCo's "Taste of Tomorrow" initiative demonstrates a strategic approach to corporate social responsibility and diversity, equity and inclusion (DEI) efforts. The $350,000 investment in HBCUs shows a commitment to addressing the STEM diversity gap, particularly in food science. This move aligns with growing consumer and investor expectations for corporations to take active roles in social issues.

The program's multi-faceted approach, combining scholarships, resources and on-campus engagement, suggests a comprehensive strategy to create a pipeline of diverse talent. By focusing on HBCUs, PepsiCo is tapping into a important source of Black talent, potentially improving its future workforce diversity and innovation capacity.

While the financial commitment is modest for a company of PepsiCo's size, the initiative's potential for positive PR and brand perception among younger, socially conscious consumers could yield significant long-term benefits. This move may also enhance PepsiCo's employer brand, aiding in future recruitment efforts.

STEM Education Analyst

The "Taste of Tomorrow" initiative addresses a critical issue in STEM education: the underrepresentation of Black professionals, who make up only 9% of the STEM workforce. By targeting HBCUs, PepsiCo is strategically investing in institutions that have a proven track record of producing Black STEM graduates.

The program's focus on food science and technology is particularly noteworthy. This niche area within STEM aligns well with PepsiCo's core business, potentially creating a symbiotic relationship between the company's R&D needs and the career aspirations of HBCU students. The on-campus workshops and culinary innovations could spark interest in food science careers that students might not have previously considered.

However, the impact of this initiative on the broader STEM diversity issue may be due to its scale. To create significant change, sustained, long-term investment and industry-wide collaboration will be necessary.

Marketing Strategist

PepsiCo's "Taste of Tomorrow" campaign is a clever blend of corporate social responsibility and brand marketing. By involving popular brands like Pepsi Zero Sugar and Doritos and enlisting HBCU alum 2 Chainz as a spokesperson, PepsiCo is creating a multi-layered engagement strategy that resonates with both students and broader consumer audiences.

The initiative's focus on culinary innovation and on-campus activities provides opportunities for experiential marketing, allowing students to interact directly with PepsiCo's brands and products. This approach can foster brand loyalty among a key demographic of young consumers.

Moreover, by addressing a socially relevant issue like diversity in STEM, PepsiCo is positioning itself as a socially conscious brand. This aligns with the values of younger consumers, particularly Gen Z, who often prioritize brands that demonstrate commitment to social causes. The campaign's potential for viral social media content and positive press coverage could significantly enhance PepsiCo's brand image and attract conscious consumers.

PepsiCo and the PepsiCo Foundation are helping to close the diversity gap in the STEM workforce gap by increasing awareness and access for HBCU students through financial support and resources aimed at supporting food science and elevating culinary innovation

PURCHASE, N.Y., Aug. 28, 2024 /PRNewswire/ -- Today, PepsiCo announced the launch of "Taste of Tomorrow," an initiative designed to increase Black representation in Science, Technology, Engineering and Math (STEM) careers because despite the rapid growth of STEM jobs, Black professionals remain underrepresented making up only 9% of the STEM workforce. To help address this disparity, PepsiCo and the PepsiCo Foundation are investing $350,000 in financial support and providing additional resources to Historically Black Colleges and Universities (HBCUs), particularly for students pursuing careers in food science and technology.

As the employer of choice for STEM careers, this initiative is part of PepsiCo and the PepsiCo Foundation's efforts to work towards creating flavorful futures for students at HBCUs through the advancement of STEM education and culinary innovation.

"HBCUs are a critical pillar of impact, influence, and opportunity, nurturing the next generation of Black leaders," said Kent Montgomery, Senior Vice President, Industry Relations and Multicultural Development at PepsiCo.  "We are eager to continue our long-standing commitment of supporting diverse talent in our business and provide students with the resources needed to thrive in their careers and make a positive impact on the world. With the launch of this campaign, we're not only helping to create a more diverse and inclusive workforce for the STEM field, but also drive innovation and progress in the food industry."

Research shows that lack of access to advanced STEM-related courses in public high schools serving predominantly Black students, a decrease in public programming in urban communities and scarcity in representation of Black high achievers in the field have led to insufficient growth of Black professionals and recent graduates in this industry. With HBCUs at the center of culture, education and long-term career and life advancement, PepsiCo and the PepsiCo Foundation are proudly providing funding and flavor to HBCUs and its students through the "Taste of Tomorrow" to combat this disparity, including:

PepsiCo Foundation is providing $250,000 in scholarships to HBCU students pursuing STEM degrees across 9 HBCUs for the 2025 school year. Beginning September 9, 2024, through December 2, 2024, students at Benedict College, Bethune-Cookman University, Florida A&M University, Hampton University, Howard University, Jackson State University, Morgan State University, North Carolina Central University and Prairie View A&M University can apply at https://learnmore.scholarsapply.org/tasteoftomorrow. Participating schools and application requirements can also be found at the link during the live application period.

Additionally, PepsiCo is honoring and supporting Florida A&M University and Prairie View A&M University by providing $100,000 total for STEM resources to enhance their programs and foster innovation for long-term advancement of their programs and bringing an R&D educational workshop series to their campuses for further access.

 "At the core of what we do at the PepsiCo Foundation is provide underrepresented communities with resources and access to economic opportunities that sustain and elevate their lives," said C.D. Glin, President of the PepsiCo Foundation and Global Head of Social Impact for PepsiCo. "As a proud HBCU graduate and executive in a food and beverage company, my interest in this program is both personal and professional.  By investing in HBCU students and supporting STEM education, we hope to inspire a new era of STEM professionals to not only change the future of this industry but provide long-term impact in their communities."

Bringing the flavor, PepsiCo's brands, Pepsi® Zero Sugar and Doritos®, will engage students and fans on-campus through on-the-ground culinary innovations created by in-house chefs and food-science experts to inspire at-home food innovation. PepsiCo will also host a wide range of talent on campus and campaign spokesperson and HBCU alum, 2 Chainz, who is bringing his passion for supporting HBCU students to this initiative.

"As an HBCU Alum, I'm excited to share my platform and partner with the PepsiCo's Taste of Tomorrow initiative to support diversity in STEM and encourage students, all while bringing awareness to the talented graduates coming from HBCUs entering the workforce." said 2 Chainz, rapper and entrepreneur.

"Taste of Tomorrow" underscores PepsiCo's commitment to supporting HBCUs and advancing diverse talent within its pipeline to recruitment. As part of its efforts to amplify equity within its business, this initiative is one part of PepsiCo's work in ensuring marginalized and underserved communities are supported. By leveraging the power of the PepsiCo platform to foster growth for HBCUs and their students, the company is working to help address systemic barriers and create economic opportunities.

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 $91 billion in net revenue in 2023, driven by a complementary 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 X (Twitter), Instagram, Facebook, and LinkedIn @PepsiCo.

About the PepsiCo Foundation  
The PepsiCo Foundation, the philanthropic arm of PepsiCo, invests in the essential elements of a sustainable food system with a mission to support thriving communities. Working with non-profits and experts around the globe, we're focused on helping communities obtain access to food security, safe water and economic opportunity. We strive for tangible impact in the places where we live and work—collaborating with industry peers, local and international organizations, and our employees to affect large-scale change on the issues that matter to us and are of global importance. Learn more at www.pepsicofoundation.com.  

 

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FAQ

What is PepsiCo's 'Taste of Tomorrow' initiative for HBCU students in STEM?

'Taste of Tomorrow' is a $350,000 PepsiCo initiative to increase Black representation in STEM careers, focusing on food science and technology at HBCUs. It includes scholarships, STEM resources, and on-campus culinary innovations.

How much is PepsiCo (PEP) investing in scholarships for HBCU STEM students?

PepsiCo (PEP) is investing $250,000 in scholarships for HBCU students pursuing STEM degrees across 9 HBCUs for the 2025 school year.

Which HBCUs are participating in PepsiCo's 'Taste of Tomorrow' scholarship program?

The participating HBCUs include Benedict College, Bethune-Cookman University, Florida A&M University, Hampton University, Howard University, Jackson State University, Morgan State University, North Carolina Central University, and Prairie View A&M University.

When can HBCU students apply for PepsiCo's 'Taste of Tomorrow' scholarships?

HBCU students can apply for PepsiCo's 'Taste of Tomorrow' scholarships from September 9, 2024, through December 2, 2024.