PepsiCo Greenhouse Accelerator selects disruptors to pioneer smart wellness solutions
12 Jan 2021 --- PepsiCo has announced the ten global finalists joining its fifth annual Greenhouse Accelerator. This year’s mentor-guided program supports a host of “market-ready” health and wellness products including encapsulated functional foods, metabolically personalized dietary advice and a hangover-alleviating probiotic drink.
Each of the participating companies will receive US$20,000 in grant funding and begin a six-month business program designed to accelerate their growth through personalized mentorship.
In June, one company will be awarded an additional US$100,000 in funding to continue its growth.
Personalized mentorship from PepsiCo
“This year’s class of companies will receive personalized mentorship from experts at PepsiCo from functions like brand development, scaling technology, business model development, product optimization and go-to-market strategy,” Daniel Grubbs, managing director of PepsiCo Ventures Group, tells FoodIngredientsFirst.
“The topics include e-commerce; trends and foresighting; funding and investment; commercialization strategy; brand marketing; financial analysis and more.”
PepsiCo’s selection committee chose finalists based on criteria that includes a start-up’s ability to demonstrate how it can “enable health management and wellness on a global scale.” The content modules are carefully curated by PepsiCo’s team and include feedback solicited from prior participants. “This ensures it remains relevant in the evolving world of entrepreneurship,” says Grubbs.
“We have a lot to learn from this group and look forward to collaborating closely with these ten innovators who are changing the game through personalization, emerging technologies and unique services and ingredients,” he adds.
Scaling up “better for you” products
PepsiCo’s selection committee chose finalists based on criteria that includes a start-up’s ability to demonstrate how it can “enable health management and wellness on a global scale.” This committee is made up of PepsiCo R&D leadership and PepsiCo Ventures Group.
Among the finalists of this year’s cohort is BioLumen, a US-based nutritional technology company, which engineers 100 percent natural structured fiber that absorbs sugars and fats in the stomach.
Sweden’s Canomiks is leveraging a “making food as medicine” concept through its genomics and AI-based Product Superiority Platform. The platform helps companies in the functional F&B and dietary supplement spaces develop safe and efficacious products.
The UK’s Melico Science provides metabolically personalized dietary advice using chemical fingerprinting of a urine sample to give consumers the tools they need to be their “healthiest self.”
ZBiotics, a US-based company, offers the first genetically engineered probiotics that execute specific beneficial functions, such as alleviating hangovers.
Meanwhile, Italy’s Sphera Encapsulation uses patented technology to develop encapsulated products – such as functional foods or taken as functional supplements – that have a meaningful social, environmental and health impact.
Industry is in tune with immune
Consumer appetite for health-fortifying offerings has risen over the last year and has been accelerated by the ongoing COVID-19 pandemic.
In light of this, “In Tune with Immune” was pegged as one of Innova Market Insights’ Top Trends for 2021, reflecting how immunity and health will steer the development of functional ingredients in the coming years.
Start-ups continue to play a critical role in the post-COVID recovery effort and could help provide solutions to the future challenges faced by society.Start-ups continue to play a critical role in the post-COVID recovery effort and could help provide solutions to the future challenges faced by society. However, early-stage companies are facing many challenges stemming from COVID-19, flags Grubbs.
“Business models have been challenged, requiring a pivot. While raising capital is always a journey, COVID-19 has made it more difficult driven by the lack of in-person meetings and by a more competitive investment environment.”
“There’s no question that COVID-19 has renewed consumer interest in taking control of their personal health and wellness, and we continue to explore how this evolves in the food and beverage space,” remarks Antonio Tataranni, SVP of R&D and chief medical officer, PepsiCo.
“Our R&D team continues to look for emerging and disruptive solutions that address consumer needs, such as creative innovations in personalized nutrition, functional foods and supplements, and new technologies that enable vitality.”
By Benjamin Ferrer
