PepsiCo has announced the launch of its second Greenhouse Accelerator Program — the APAC Sustainability Edition for 2024. Building on the success of the previous year’s initiative, the global food and beverage giant is poised to make an even more significant impact by collaborating with and supporting entrepreneurs pioneering innovative solutions in sustainable agriculture, climate action, and the circular economy.
Recognizing the pivotal role it plays in influencing the region’s transition towards sustainable supply chains and achieving net-zero goals, PepsiCo’s Greenhouse Accelerator APAC Sustainability Edition aims to partner with forward-thinking entrepreneurs. The initiative aligns with the company’s commitment to achieving a net-zero carbon footprint by 2040. Up to 10 selected applicants will receive substantial support, including US$20,000 in grants and mentoring from subject-matter experts within PepsiCo’s executive and leadership teams. The ultimate winner, receiving a US$100,000 prize, will be unveiled at the program’s culmination in Thailand in September 2024.
“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 agri and food tech innovation, and with new partners joining us, we aim to use our reach to positively influence the food ecosystem,” according to Wern-Yuen Tan, CEO of PepsiCo APAC.
The 2024 applications are now open, inviting startups across the APAC region with solutions in sustainable packaging, climate action, and sustainable agriculture. The shortlisting process will be based on criteria such as innovation, scalability of the business model, uniqueness, disruptive potential, and a commitment to driving emissions reduction and circularity.
Since its inception in 2017, the Greenhouse Accelerator has successfully engaged with more than 86 companies across the Middle East and North Africa, Europe, Sub-Saharan Africa, the United States, and APAC. The cumulative revenue generated by these emerging startups has surpassed US$20M. Last year’s program attracted over 100 applications in the APAC region, with Powered Carbon emerging as the winner. The low-carbon fertilizer solution developed by Powered Carbon, which utilizes green electricity to cultivate bacteria, has been piloted on PepsiCo’s potatoes in Guangdong, China.
“As a leader in the beverage industry, Suntory PepsiCo Thailand is proactively addressing environmental challenges through an unwavering commitment to sustainability, innovation, and compliance. We are dedicated to optimizing internal processes and reducing greenhouse gas emissions across our entire value chain while collaborating with other stakeholders to achieve a net-zero carbon society. We clearly define priority issues, including achieving water conservation and replenishment, fostering a sustainable packaging management for the circular economy, and greenhouse gas reduction throughout our operation. Emphasizing the importance of collaboration, we are pleased to participate in this program to build a sustainable society that prioritizes environmental responsibility,” said Ashish Joshi, Chief Executive Officer, Suntory PepsiCo Beverage (Thailand).
For the second edition of the program in APAC, PepsiCo has strategically partnered with Suntory PepsiCo Beverage Thailand, Suntory PepsiCo Vietnam Beverage, and Circulate Capital. This collaborative effort aims to address a comprehensive range of environmental challenges and nurture a generation of entrepreneurs capable of driving positive impacts across various facets of sustainability.
“Suntory PepsiCo Vietnam is proud to be a partner in this impactful initiative, create a platform where innovations can thrive and can contribute to the movement toward a more sustainable future. Our company’s sustainability strategy and goals align with the Vietnam Government’s commitment, especially its pledge to reach net-zero greenhouse gas emissions by 2025. We have collaborated with strategic partners to implement multiple initiatives in realizing sustainability goals, notably, our phasing out of fossil fuel in manufacturing plants and reduced virgin plastic consumption leading to the reduction in greenhouse gas emissions,” said Jahanzeb Khan, CEO and General Director, Suntory PepsiCo Vietnam.
Entrepreneurs eager to participate in the PepsiCo Greenhouse Accelerator 2024 APAC Sustainability Edition can submit their applications on the official website at https://greenhouseaccelerator.com/apac/ or connect with PepsiCo on LinkedIn. The initiative stands as a testament to PepsiCo’s unwavering commitment to fostering sustainable innovation and driving positive change in the APAC region’s business landscape.