The Greenhouse Accelerator is a 6-month program where up to 10 innovators will be selected and paired with a PepsiCo mentor team. The team will be challenged to demonstrate collaboration and measurable progress, based on a mutually developed action plan.
Companies will have access to subject matter experts, resources and a curriculum of business and training modules, and will also be able to collaborate with other participating companies. Companies will benefit from PepsiCo research & development experience as well as perspectives on business models, product development, science & regulatory practices, market activation and other disciplines.
Up to 10 participating companies will be required to participate in three events:
- Greenhouse Accelerator virtual kick-off and orientation event on January 13, 2021.
- A virtual mid-term event to share progress updates on or about March 24, 2021.
- A virtual final program graduation event and final $100,000 grant recipient announcement celebration on or about June 16, 2021.
All participating companies will be required to sign a Greenhouse Accelerator Participation Grant Acceptance Agreement. The $20,000 grant comes with ‘no strings attached’ except that it may not be used to pay debt or bonuses. The $100,000 prize also carries similar restrictions.
Participating companies and their mentors will plan and execute an initiative using a $20,000 grant to demonstrate collaboration and tangible results in an entrepreneurial fashion. An evaluation committee made up of a third party adjudicator, PepsiCo business units and PepsiCo External Innovation team will award a $100,000 prize to one winning company based on the company’s progress, level of collaboration and effective use of the $20,000 grant.