Mubasher: PepsiCo has introduced its greenhouse accelerator programme in MENA to boost innovation and sustainability through collaboration with the region's startups.
The programme was launched in partnership with the UAE Ministry of Climate Change and Environment, according to a press release on Monday.
The upcoming '2021- 2022 PepsiCo Greenhouse Accelerator: MENA Sustainability Edition' will focus on sustainable packaging and circular economy solutions by backing ten companies that deploy technology to accelerate environmental sustainability in the food and beverage industry.
Small startups and businesses with a product, service, or system in early growth stages will also be able to apply online for the six-month programme.
Participants will receive a cash grant of $20,000, one-on-one mentorship via access to PepsiCo’s experts, market activation advice, and business opportunities.
The winning company at the end of the programme will be selected and awarded an additional $100,000 in funding to continue its expansion.
Since 2017, the PepsiCo Greenhouse Accelerator was active across Europe to enable food and beverage entrepreneurs to extend their services through collaboration and innovation.
The programme was also introduced in North America in 2019 and has delivered five successful editions.
The CEO of Africa, Middle East, and South Asia at PepsiCo, Eugene Willemsen, said: "At PepsiCo, we believe great solutions can be built and launched through open innovation and collaboration with changemakers of the future and we look forward to supporting, mentoring, and connecting small startups that have big ideas, to the resources they need to help create a more sustainable tomorrow."
Willemsen commented: "As the region’s largest food and beverage company we have a critical role to play to advance this agenda and bring our pep+ strategy to life in key MENA countries."