Future food: PepsiCo nurtures start-ups at the forefront of industry trends
07 Feb 2020 --- Changing the way that people eat and drink is underscored in PepsiCo’s latest Greenhouse Program which has selected 10 companies and brands to take part in its second year of the initiative. PepsiCo will mentor the businesses and support breakthrough products. Key themes include fighting food waste, sustainability, plant-based, functional beverages, health and wellness and nutrition.
Each of the participating start-ups will receive US$20,000 in grant funding and participate in a six-month business program designed to accelerate their growth through personalized mentorship.
The 2020 PepsiCo North America Greenhouse program is designed to support emerging entrepreneurs. Previously participating companies in the inaugural North America class grew their average revenues 200 percent through the six-month program.
PepsiCo mentors from brands including KeVita, Stacy’s and IMAG!NE will address marketing, distribution, manufacturing, supply chain, packaging, label claims, fundraising and overall challenges related to growing a business.
“We provide a grant and mentorship to these companies, and we also draw great value from working closely with the entrepreneurs who are at the forefront of industry trends,” says Daniel Grubbs, Managing Director PepsiCo Ventures Group.
The 10 start-ups selected for the 2020 PepsiCo North America Greenhouse program are:
Beauty Gourmet (Boulder, CO) – A female-founded company, that places “beauty” nutrients into foods and beverages that fit seamlessly into a woman's daily life for wellness.
LOVE CORN (Ho Ho Kus, NJ) – Created the first Premium Crunchy Corn brand that is a healthy swap for chips, pretzels, and crackers. It is vegan, plant-based, gluten-free and non-GMO Project Verified.
MudLrk Snacks (LaPorte, IN) – Crafts plant-based, crunchy, whole food snacks in three flavors of shiitake mushroom crisps (Ranch, Kansas City BBQ, Sriracha) and jackfruit crisps. All products are packaged in proprietary, innovative packaging made from compostable materials
NUMILK (New York, NY) – Offers machines and ingredients for grocery stores that allow customers to make their own fresh, plant-based milks in reusable bottles.
Nuttee Bean Co. (Miami, FL) – Makes whole roasted fava bean snacks in three bold flavors: wasabi and ginger, chili and lime, and salt and vinegar. They are gluten-free, allergy-free, vegan and certified non-GMO.
Shindig, LLC (Milwaukee, WI) – Created a juice that blends all-natural fruit and vegetable ingredients into invigorating, nutritious recipes.
Siren Snacks (San Francisco, CA) – Created a line of bite-sized snacks that incorporate functional, superfood ingredients. A female-founded brand, Siren Snacks currently sells a line of plant-based protein bites, Rest & Relaxation bites and Organic Energy bites.
SPUDSY (Costa Mesa, CA) – Makes the world's first sweet potato puff and comes in three flavors including Vegan Cheesy Cheddar, Bangin' Bar-B-Q and Cinnamon Churro. They are certified non-GMO, vegan, and gluten-free and source ingredients in a way that reduces food waste.
SUPERFRAU (Cambridge, MA) – Created an electrolyte elixir made with real ingredients. It captures fresh liquid whey at the source and infuses it with unique flavor extracts like cucumber lime, lemon elderflower, and peach mango, to upcycle it into refreshing, thirst-quenching sports drinks that also aims to build a more sustainable food system.
Synapse (Atlanta, GA) – Offers a plant-based alternative to energy drinks. With zero caffeine or artificial ingredients, Synapse is made with plants and harnesses the power of nootropics in a sparkling functional beverage.
The finalists were selected by a committee of leaders within PepsiCo based on their product and brand qualities, how they integrate purpose into their offering and meet the needs of current and future consumers.
At the end of the PepsiCo North America Greenhouse program, one company will receive an additional US$100,000 in funding based on the company's progress, level of collaboration and partnership with the PepsiCo mentors, and the effective use of the initial $20,000 grant. That company will also have the opportunity to continue partnering with PepsiCo to further its growth.
PepsiCo first launched its Greenhouse program in Europe in 2017 and expanded the program to North America in 2018, awarding Austin, Texas-based Hapi Drinks, a sugar-free children’s drinks tackling childhood obesity, as the winning brand in the spring of 2019.
Edited by Gaynor Selby
