Emerging Hispanic-owned food and beverage businesses making or selling consumer goods or providing food and beverage services across the US can apply to the accelerator.
PepsiCo will then select ten ‘high-potential’ brands, products and/or foodservice concepts to join the Juntos Crecemos (which means 'Together we grow') 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.
"This year’s cohort of companies will receive personalized mentorship from experts at PepsiCo from functions including R&D, Supply Chain, Design and more," says PepsiCo. "These mentors will collaborate with the innovators to solve a range of business challenges, including brand development, scaling technology, business model development, product optimization and go-to-market strategy.
In November, the highest potential business will be awarded an additional $100,000 to continue its expansion and an opportunity to continue working with PepsiCo and Juntos Crecemos, which is PepsiCo's platform for supporting Hispanic-owned small businesses (specifically restaurants, bodegas and carnicerías).
New focus for incubator
This year marks the eighth year of the Greenhouse Accelerator program (the incubator first launched in Europe in 2017 and then expanded to North America in 2018) and the first-ever Hispanic edition.
"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."
To learn more about the PepsiCo Greenhouse Accelerator: Juntos Crecemos Edition and how to apply, visit: https://greenhouseaccelerator.com/juntos-crecemos/.