PepsiCo Inc. 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.
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 10 high-potential brands, products and/or foodservice concepts to join the Greenhouse Accelerator program in June. The 10 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 startups 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,” Esperanza Teasdale, vice president and general manager, Hispanic business unit, PepsiCo Beverages North America, said in the announcement. “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 is continually looking for ways to expand access to small businesses and entrepreneurs, particularly within communities of color,” Antonio Escalona, senior vice president and general manager, Hispanic business unit, PepsiCo Foods North America, added in the announcement. “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.