PepsiCo has unveiled the second Greenhouse Accelerator program in the Asia Pacific (APAC) region. Following the success of last year’s program, PepsiCo is looking to make a greater impact on the food and beverage sector by collaborating with and supporting entrepreneurs who are developing innovative solutions in sustainable agriculture, climate action, and the circular economy.

The Greenhouse Accelerator APAC Sustainability Edition is an initiative to partner with innovative entrepreneurs in the region to advance the company’s goal to be net zero by 2040. As part of the program, PepsiCo will select up to 10 applicants to receive US$20,000 in grants as well as mentoring from subject-matter experts from PepsiCo’s executive bench and broader leadership team. The final winner of the US$100,000 prize will be announced in Thailand in September 2024.

Applications for 2024 are now open, and APAC startups with solutions in the sustainable packaging, climate action, and sustainable agriculture spaces are eligible to apply. The shortlisted applicants will be selected based on the degree of innovation, business model scalability, uniqueness, disruptive potential, and a mission to drive emissions reduction and circularity.

PepsiCo APAC CEO, Wern-Yuen Tan said, “Building on the strong start we made in 2023, we are extremely proud to launch the second edition of the Greenhouse Accelerator program across the Asia Pacific region. Last year, we initiated seven pilot projects, each contributing to our sustainability goals and demonstrating the power of partnership. APAC is a focal region for agriculture and food tech innovation, and with new partners joining us, we aim to use our reach to positively influence the food ecosystem.”

Since its inception in 2017, the Greenhouse Accelerator has included over 86 companies across the Middle East and North Africa, Europe and Sub-Saharan Africa, the United States, and APAC. To date, the collective revenue of the emerging startups has exceeded US$20 million.