PepsiCo selects 10 emerging innovators including one from India for mentoring
Food and beverages major PepsiCo on Tuesday announced a list of 10 global emerging innovators including India's Biosustain Labs, each of which will get a grant of USD 20,000 and mentoring support under its fifth 'Greenhouse Accelerator' program.
Biosustain Labs, based out of Kodagu district, Karnataka, develops sustainable functional food products for consumers looking for specific health benefits.
As many as five emerging innovators -- Braingaze, Carbiotix AB, Melico Science, Seqbiome, Sphera Encapsulation -- have been selected from Europe, while four - BioLumen, ZBiotics, Canomiks, LifeNome-Ask Sophie -- were selected from the US.
In a statement, PepsiCo said: "Each of the participating companies will receive USD 20,000 in grant funding and begin a six-month business program designed to accelerate their growth through personalized mentorship."
The 10 innovators will receive personalized mentorship from experts at PepsiCo across functions including Research and Development, Supply Chain and Design.
Mentors will collaborate with the companies to solve a range of business challenges, including business model development, scaling technology and go-to-market strategy.
"In June, one company will be awarded an additional USD 100,000 in funding to continue its growth," it added.
Commenting on the development, PepsiCo Ventures Group Managing Director Daniel Grubbs said: "We're excited to evolve our Greenhouse Accelerator program to new areas including cutting-edge science and technology."
"We have a lot to learn from this group and look forward to collaborating closely with these 10 innovators who are changing the game through personalization, emerging technologies, and unique services and ingredients," he added.
PepsiCo said the finalists were selected by a committee of leaders within PepsiCo, based on their ability to offer ingredients, products or services that encourage a healthy lifestyle and enable health management and wellness on a global scale.
The Greenhouse Accelerator program first launched in Europe in 2017, was expanded to North America in 2018. Over the years, the program has evolved to support innovators and entrepreneurs that appeal to consumer needs.
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