Launched in 2018, The Greenhouse Accelerator Program awards innovative startups with financial support and mentorship. PepsiCo dedicated this year’s program to Hispanic startup founders following the success of last year’s Juntos Crecemos edition, which saw snack brand Chuza taking home the grand prize.
Hispanic-owned startups that make or sell consumer goods are encouraged to submit applications to the accelerator program by May 6. (Click here to apply.) The award is not exclusive to food and beverage brands, and technology companies that are involved in the food supply chain can apply for consideration.
PepsiCo will select eight businesses to receive a $20,000 grant and join a five-month mentorship program, tailored to their business needs. One company that demonstrates it can address its unique business challenges will receive a $100,000 grand prize.
Companies applying to the accelerator program should have net revenues between $250,000-$2m in the last financial year, be a Hispanic-owned business operating in the United States and agree to work with PepsiCo Greenhouse Accelerator mentors and PR teams through the Accelerator program.
An external third-party will review all applications and judge the winner based on its go-to-market strategy, product uniqueness, scalable business model, alignment with PepsiCo's pep+ sustainability strategy, and support of gender and ethnic diversity within the organization, PepsiCo shared on the contest page.
"We are so excited to launch year two of the program to be a catalyst of growth for emerging Hispanic-owned ventures in the food and beverage industry. Last year's program was a reciprocal exchange of learning. Mentors provided mentees with invaluable business advice, and the mentees provided a thoughtful approach to their respective businesses and the industry at large. This cross-pollination of ideas and perspectives is what helps drive innovation within PepsiCo," said Esperanza Teasdale, VP and GM, Hispanic business unit, PepsiCo Beverages North America.
