PepsiCo launches 2020 North American accelerator program

PepsiCo is launching its second PepsiCo Greenhouse accelerator program and is calling on businesses in the U.S. and Canada to apply.

The beverage and snack maker is looking for 10 startups "whose businesses or brands integrate purpose into their offering, meeting the needs of current and future consumers, communities and/or our planet," according to a press release. PepsiCo will start accepting submissions Jan. 6.

"Since its inception, the PepsiCo Greenhouse has been a great source of ideation, talent development and agility, while also providing an opportunity to collaborate with like-minded, mission-driven entrepreneurs as they develop and scale their innovative ideas that look to improve the way we shop and eat, offer new choices to consumers and solve the needs of our communities," said Jim Andrew, PepsiCo executive vice-president, corporate strategy and chief venturing officer.

Startups receive US$20,000 in funding and will participate in a six-month business program that includes mentorship from executives across the company.

At the end of the program, one startup receive an additional $100,000 in funding to continue its expansion, and an opportunity to continue partnering with PepsiCo to further its growth.

PepsiCo launched the Greenhouse program in Europe in 2017 and expanded the program to North America the following year.