Applications open for PepsiCo Greenhouse Accelerator Program
For the second consecutive year, the North American edition of the Greenhouse Accelerator has chosen to focus on Hispanic-owned CPG beverage and snack startups ‘that demonstrate the promise of transforming the industry’ with products that are both better for people and planet.
According to the U.S. Hispanic Chamber of Commerce (USHCC), Latino businesses generate $800bn for the U.S. economy per year, but have the potential to generate much more.
Applications for the accelerator open today: and up to eight start-ups will be accepted.
Each finalist will gain a $20,000 grant, with the winner getting an additional $100,000.
Participants can also expect expert guidance and learning modules across all aspects of business development, such as brand development, scaling technology, business model development, product optimization and go-to-market strategy.
They will also gain access and exposure to network and resources, industry experts, VCs and investors.
To apply, visit https://greenhouseaccelerator.com/juntos-crecemos-applications/. The deadline for applications is May 6.
Applicants need to be able to present:
- An elevator pitch: showing how an innovation meets an unmet need or is solving a problem
- An explanation of the current business model or go-to-market plan
- A summary of accomplishments so far
- An outline of what it wants to achieve from grant funding
- A vision of what success will look like
"Last year's program was a reciprocal exchange of learning," said Esperanza Teasdale, vice-president & general manager, Hispanic Business Unit, PepsiCo Beverages North America. "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."
Last year’s winner was Daniel Schwarz, founder & CEO of Mexican-inspired snack company Chuza. The brand used the grant and expertise gained from the accelerator to expand branding and marketing efforts, with new packaging improvements and new products set to launch this year.
Other participants included non-alcoholic agave spirits and cocktails brand Parch; and Mexican non-alcoholic craft brewer, Katrina Brewing Co.
Success stories
Arizona's Parch draws on the highest quality Mexican Blue Weber Agave grown in the organic fields of Los Altos de Jalisco (highlands of Jalisco). The current agave crop is between five and six years old: the idea age for agave.
No pesticides are used and when the pinas are harvested by local Jimadores, the leaves cut off the pina are left to fertilize the soil and reduce erosion for future harvests.
The drink contains three adoptogens: ashwangandha, American ginseng and L-theanine.
Katrina Brewing Co’s first two alcohol-free beers are a Mexican Brew (made with premium malt, the light, crisp and balance brew pairs with Mexican foods) and Chelada (inspired by the Mexican Chelada with lime and sea salt).
Schwarz and other finalists from last year's cohort will attend Natural Products Expo West in Anaheim, CA, a trade show for the natural, organic and healthy product industry.
The Greenhouse Accelerator Program has been running in North America since 2018.
The APAC edition opened for applications in January, with a closing date of March 18. This program, however, is focused around sustainability: investing in start-ups that are working to advance the circular economy and sustainable agriculture.
