PepsiCo Selects Eight Trailblazing Food and Beverage Start-Ups for Greenhouse Accelerator Program: Juntos Crecemos Edition

Rhea-AI Summary

PepsiCo announced the eight finalists for the second year of the Greenhouse Accelerator Program: Juntos Crecemos Edition. This program focuses on enhancing high-potential food and beverage brands inspired by Hispanic flavors. Each finalist will receive $20,000 and join a five-month mentorship program, with the chance to win an additional $100,000. The selected startups include JAS, JaziLupini, Mayawell, Nemi, Paktli Foods, Pricklee, TOAST-IT, and ¡Ya Oaxaca!. These companies will work on innovative business solutions, guided by experts in various fields. The program aims to drive sustainable growth and industry innovation.

Positive

• PepsiCo selected eight innovative startups for its Greenhouse Accelerator Program.
• Each startup receives $20,000 and a chance to win an additional $100,000.
• Focus on Hispanic-inspired and sustainable products.
• Mentorship from experts in research, supply chain, and design.
• Program aims to foster sustainable growth and industry innovation.

Negative

• None.

Companies to receive $20,000 to develop innovative business solutions, join a five-month mentorship program with an opportunity to win an additional $100,000

PURCHASE, N.Y., July 9, 2024 /PRNewswire/ -- Today, PepsiCo, Inc. (NASDAQ: PEP) announced the eight finalists chosen to participate in the second year of the Greenhouse Accelerator Program: Juntos Crecemos (Together We Grow) Edition. This edition of Greenhouse Accelerator focuses on elevating high-potential consumer packaged food and beverage brands and products inspired by Hispanic flavors and culture that are better for people and the planet.

The eight finalists were assessed for their potential to introduce innovative products to the food and beverage industry, scalability and demonstrated commitment to quality, sustainability and community engagement. The emerging businesses chosen to participate in this year's cohort are from all across the country, including:

• JAS - (Dallas, Texas) JAS crafts alcohol-free cocktails with adaptogens, botanicals and real ingredients. With expressions like the Paloma Libre infused with Ashwaganda and packed with vibrant, flavor functional benefits and a signature 'Mexican pink' hue, JAS embodies a "Be Bold, Be Free," lifestyle celebrating individuality and authenticity.
• JaziLupini - (Rochester, New York) JaziLupini provides plant-based, gluten-free pasta, dedicated to satisfying cravings with its low-carb, protein-rich formula. Crafted from premium organic ingredients and inspired by the flavors and culinary techniques of Latin American cuisine, it's free from eggs, dairy, nuts, gluten and soy, and packed with functional nutrients for a nourishing meal option.
• Mayawell - (Austin, Texas) Mayawell offers Mexican-inspired prebiotic sodas sweetened with organic agave and Active Agave™ inulin, serving as both a prebiotic and low-glycemic sweetener. With flavors like strawberry ginger with hibiscus and pineapple mango with turmeric, Mayawell provides a delicious and guilt-free refreshment.
• Nemi - (Chicago, Illinois) Nemi Snacks offers delicious, crunchy sticks made with nopales, seeds and mercado-fresh spices. With five distinct flavors and whole food ingredients, these snacks elevate authentic Mexican flavors.
• PAKTLI - (Cincinnati, Ohio) Paktli Foods crafts artisan super snacks with organic puffed amaranth, quinoa, millet, chocolates, dried fruits and nuts. Inspired by 16th-century Mexican alegrías, these snacks are organic and gluten-free, with vegan and soy-free options.
• Pricklee - (New York, New York) Pricklee is a natural hydration beverage made from real prickly pear cactus, sourced from Mexico, packed with electrolytes, antioxidants and vitamin C. Its low-sugar formula uses 80% less irrigation than traditional crops, offering delicious and sustainable refreshment.
• TOAST-IT® - (Miami, Florida) TOAST-IT offers gluten-free, Latin American staples like arepas and pandebono bites made with authentic ingredients such as yuca root and baked plantains. Celebrating traditional flavors, their ready-to-toast products bring a taste of Latin American culture to the United States.
• ¡Ya Oaxaca! - (Austin, Texas) ¡Ya Oaxaca! crafts artisanal mole sauces adobos and salsas with premium, natural, non-GMO, gluten-free and vegan ingredients, capturing the essence of Oaxaca's gastronomic heritage while prioritizing quality, sustainability and ethical sourcing practices.

This edition of the Greenhouse Accelerator marks the second year of collaboration with the PepsiCo Ventures Group and PepsiCo Juntos Crecemos, part of pep+ (PepsiCo Positive's) transformation agenda, to make a positive impact on people and our planet by fostering innovation, creating economic opportunity and supporting local communities.

"As we embark on the second year of the Greenhouse Accelerator Program: Juntos Crecemos Edition, we're thrilled to witness the continued evolution of emerging businesses in the food and beverage industry," said Esperanza Teasdale, Vice President & General Manager of PepsiCo Beverages North America's Hispanic Business Unit. "Building on the success of last year's program, where the businesses expanded distribution and accelerated revenue in just six months, we're committed to nurturing these eight new ventures toward sustainable success."

The program officially kicked off with a launch event at the Frito-Lay headquarters in Plano, Texas, where the eight finalists were introduced to their mentors – experts across research and development, supply chain, design and more – who will support them during this five-month accelerator program.

At the end of the five-month mentorship journey, each finalist will present the progress they've made, demonstrating how they've successfully implemented the learnings from their mentors to identify solutions to accelerate the growth of their business. The expert selection committee will then choose one of the eight finalists to receive an additional $100,000 to continue their forward progress.

"We have such an exciting cohort of finalists this year representing a diverse range of food, flavors and cultures," said Antonio Escalona, Senior Vice President of Emerging Business for PepsiCo Foods North America. "With access to quality mentorship, resources and a platform designed for growth, this program not only supports the expansion of these innovative ventures but also brings forth products that meet consumers' evolving tastes for unique and dynamic offerings, driving forward both their success and industry innovation as a whole."

The Greenhouse Accelerator program, which initially launched in Europe in 2017, is now in its ninth cycle of fostering sustainable entrepreneurial growth.

"We are proud to continue our support for emerging businesses and to actively contribute to the startup ecosystem," said Daniel Grubbs, Global Chief Venturing & Investment Officer and Head of PepsiCo Ventures Group. "By leveraging the deep expertise within our organization, including the invaluable guidance from our PepsiCo mentors, we are helping to identify and foster the success of these great entrepreneurs and companies."

To learn more about the program, 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 $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.

 

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SOURCE PepsiCo, Inc.

FAQ

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

PepsiCo's Greenhouse Accelerator Program: Juntos Crecemos Edition is an initiative focused on enhancing high-potential food and beverage brands inspired by Hispanic flavors and culture, providing startups with funding and mentorship.

When did PepsiCo announce the finalists for the Greenhouse Accelerator Program: Juntos Crecemos Edition?

PepsiCo announced the finalists on July 9, 2024.

How much funding do the finalists of PepsiCo's Greenhouse Accelerator Program receive?

Each finalist receives $20,000 initially and has the opportunity to win an additional $100,000.

Which companies are finalists in PepsiCo's Greenhouse Accelerator Program: Juntos Crecemos Edition?

The finalists are JAS, JaziLupini, Mayawell, Nemi, Paktli Foods, Pricklee, TOAST-IT, and ¡Ya Oaxaca!.

What is the focus of the startups selected for PepsiCo's Greenhouse Accelerator Program?

The startups focus on creating innovative food and beverage products inspired by Hispanic flavors, emphasizing sustainability and quality.

What is the duration of PepsiCo's Greenhouse Accelerator Program: Juntos Crecemos Edition?

The program lasts for five months.

What type of mentorship do the finalists receive in PepsiCo's Greenhouse Accelerator Program?

Finalists receive mentorship from experts in research and development, supply chain, and design, among other fields.

What is the ultimate goal of PepsiCo's Greenhouse Accelerator Program: Juntos Crecemos Edition?

The program aims to foster sustainable growth, drive industry innovation, and support local communities through the development of high-potential food and beverage brands.