Known for its iconic brands such as Pepsi, Lay’s, Starbucks and more, the global company has announced their entrepreneur support programme for the APAC region.
PepsiCo hoping to make an even greater impact on the food and beverage sector by supporting entrepreneurs in the region who are developing innovative solutions in the industry.
Named the Greenhouse Accelerator, PepsiCo is selecting 10 applicants to receive a grant of $32,000, and a winner will receive a funding of $163,000.
Applicants chosen will be selected based on the “degree of innovation, business model scalability, uniqueness, disruptive potential and a mission to drive emissions reduction and circularity”.
The accelerator is focused on addressing issues such as packaging waste, agricultural sustainability and climate change.
This comes at a time where PepsiCo is making an effort to reach net zero.
“APAC is a focal region for agri and food tech innovation, and with new partners joining us, we aim to use our reach to positively influence the food ecosystem,” says Wern-Yuen Tan, CEO of the PepsiCo APAC region.
Since the inception of the Greenhouse Accelerator, PepsiCo has been able support over 86 companies across the Middle East, North Africa, Europe, Sub-Saharan Africa, the US, and APAC.
Tan says the collective revenue of the emerging start-ups was $20 million USD.
In the APAC region, the 2023 winner of the first Greenhouse Accelerator in the region was Powered Carbon, a low carbon fertiliser that uses CO2 to cultivate bacteria.
“We are dedicated to optimising internal processes and reducing greenhouse gas emissions across our entire value chain while collaborating with other stakeholders to achieve a net-zero carbon society,” says Ashish Joshi, Chief Executive Officer of Suntory PepsiCo Beverage (Thailand).
“We clearly define priority issues, including achieving water conservation and replenishment, fostering a sustainable packaging management for the circular economy, and greenhouse gas reduction throughout our operation.”
Applications for PepsiCo’s entrepreneur support programme is now open and closed till 18 March 2024.