PepsiCo is now taking applications for the fifth installment of its Greenhouse Accelerator Program, which looks for young startups reinventing in the food and beverage industry. One major focus for this year’s cohort will be on food innovations and technologies that “improve the aging process through wellness and health management,” according to a press release sent to The Spoon.
The program selects 10 companies to participate in the six-month-long program. Each startup gets a $20,000 grant and the opportunity to work with mentors, who will advise on product and brand development, supply chain management, customer acquisition, and other areas of running a food business. One company will be rewarded a $100,000 grant at the end of the program.
Companies worldwide are eligible for the program. They must have a product or service currently available in the market, and have more than $1 million.
This year, PepsiCo’s program is looking for companies addressing issues around health, wellness, and aging. According to the Greenhouse Accelerator website, some focus areas include products that assist with tracking and managing wellness, functional ingredients, wearables that promote health awareness, and other innovations that encourage healthy diets and lifestyles.
The focus makes sense, given the ongoing global health crisis that has disrupted the way people both shop and eat for food. Snacking may be on the rise, but so too is a need for healthier food choices. Making health and wellness more accessible is in turn becoming a priority for many companies in the food industry.
PepsiCo will select the 10 companies for this cohort in January 2021. The application process is open until December 9.
Correction: An earlier version of this post stated that the Greenhouse Accelerator Program was only open to companies in the U.S. and Canada.