In order to better respond to the new needs of consumers and connect with the mainstream consumption trend more closely, large companies have launched accelerators or incubators and venture capital plans to enter these attractive areas. The purpose of this is to achieve a win-win situation. The start-up companies can obtain the resources for development, and the large companies can also harvest the new ideas and innovation passion of the start-up companies from the cooperation. It is for this reason that launching incubators or accelerators is becoming more and more popular.
PepsiCo recently publicly called on entrepreneurs to participate in the PepsiCo greenhouse accelerator project in 2021, and 10 award-winning companies will receive funding and guidance from PepsiCo.
The project will look for "goal oriented emerging health and healthcare companies" in the food and beverage industry in North America. Ten companies will receive $20000 in funding and enter the six-month incubator program. At the end of the project, one of the top companies will receive an additional $100000.
Brands participating in the acceleration program will benefit from the personalized guidance of PepsiCo experts, covering the areas of brand optimization, product development, supply chain management, customer acquisition and distribution. The project will also address key early business issues such as business planning, corporate structure and funding.
What is PepsiCo looking for?
PepsiCo's guidelines point to some of the trends it expects to see in the next few years. The beverage and snack giant is looking for brands that explicitly focus on consumer health and personalized nutrition, including health, better for you food and drink, and health aging aspects such as immunity, digestive health, vitality, mobility, brain / cognitive health, stress and emotion management / sleep. The company also highlighted its interest in personalized nutrition and health monitoring: precision positioning technologies such as wearable devices and diagnostic methods that can provide and enable health management and a healthier lifestyle for the elderly. In addition, in response to changes in consumer demand, PepsiCo has set up an independent organization "the hive" to incubate healthier and personalized brands. Meanwhile, it has launched nutrition greenhouse accelerator in Europe and North America for start-ups outside the company's business.
Pepsi Nutrition Greenhouse was first established in Europe in 2017, and has incubated many innovative enterprises in Europe for three consecutive years, and then expanded to North America in 2018. The PepsiCo accelerator project aims to support innovative task driven entrepreneurs and companies at the forefront of trends in the food and beverage industry to help them achieve the best results in terms of convenience, health and value. In recent years, accelerator and incubator projects are very popular in the food and beverage industry. Companies such as Kraft Heinz and Nestle have also launched their own incubator projects. For these mature companies, funding creative thinking is a popular way to get returns in the short term. In fact, for food and beverage industry giants like PepsiCo, fostering some small companies to carry out product innovation development and market testing is an opportunity to explore the latest fashion trends and gain more cutting-edge consumer insight. They can have a deep understanding of emerging brands and their operations, and purchase new products in the industry first. You know, these smaller producers tend to be at the forefront of flavor trends and innovation, and big companies want to know what consumers are most interested in. On the other hand, these incubators can also bring a positive public image to big companies, which, after all, spend time and money on nurturing young businesses.