PepsiCo launches sustainability accelerator for A/NZ startups

PepsiCo has opened applications for the third edition of its Greenhouse Accelerator Program in the Asia Pacific region, targeting A/NZ sustainability startups.

The program is designed to support startups working on solutions that contribute to the circular economy, climate action, and sustainable agriculture. It offers equity-free grants of USD $20,000, with the potential for an additional USD $100,000 grant for those selected as winners.

Over the previous years, the program has achieved notable participation from Australian and New Zealand startups. Companies such as Captivate Technologies, Aspiring Materials, and ELIoT Energy have been finalists in previous editions, continuing the trend of strong representation from this region.

Specific initiatives include a mentorship scheme that provides business advisory and collaboration with PepsiCo executives and other experts, enhancing the potential for startups to bring their innovations to market. Additionally, finalists can pitch directly to investors and executives at PepsiCo, offering further visibility and potential investment.

"PepsiCo's Greenhouse Accelerator Program is dedicated to empowering startups with the tools, resources and mentorship required to drive meaningful change and scale innovations across our food systems," said Ashley Brown, Vice President Supply Chain A/NZ and Chief Sustainability Officer for PepsiCo APAC. "Over the past two years, the program has successfully launched 15 startup pilots across APAC with PepsiCo and partners, and engaged with 95 venture capital firms and institutions, reinforcing our focus on fostering a robust sustainability ecosystem."

This year, the program introduces new collaborative partners. GC Ventures, the venture capital wing of PTT Global Chemical, and Circulate Capital join to offer their expertise, ensuring that participating startups receive tailored guidance throughout the program.

The program's past success stories include startups such as Australia's X-Centric, which specialises in precise soil-testing instruments, and New Zealand's Captivate Technologies, known for its innovative carbon capture solutions.

Brown commented on the role of such accelerator programs in meeting evolving sustainability priorities: "As sustainability rightly grows in importance for investors, consumers, and employees, accelerator programs like GHAC play a crucial role in helping entrepreneurs meet these expectations and remain competitive. Applicants benefit not only from mentorship with seasoned professionals but also from direct collaboration with PepsiCo, a global industry leader that drives the program and acts as the end user of their innovations. This provides access to decades of industry expertise, a strong partner network, and valuable insights to refine solutions and shape pilot opportunities."

The program aims to aid startups in scaling their solutions within the Asia Pacific region and beyond. This initiative aligns with the regional needs, especially considering that Australian SMEs are increasing their efforts to comply with the country's emerging environmental and social governance requirements.

Finalists will be selected based on a multitude of criteria, including their readiness to initiate a pilot phase and alignment with PepsiCo's sustainability strategy. The program runs from May to September, during which startups will engage with mentors and present their solutions at designated events.