PepsiCo launched the Greenhouse Accelerator Program: Juntos Crecemos (Together We Grow) Edition, Monday. 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 for the program. PepsiCo will select ten brands, products, and foodservice concepts to join the accelerator in June.
"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, VP and GM of the Hispanic Business Unit at PepsiCo Beverages North America, in a statement. "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."
The ten innovators will receive $20,000 in grant funding and participate in a six-month business program designed to provide personalized mentorship. PepsiCo mentors will collaborate with the startups to solve business challenges. 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 to further their growth.
The Greenhouse Accelerator program first launched in Europe in 2017 and expanded to North America in 2018. The program has evolved to support the innovators and entrepreneurs that appeal to consumer needs.
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