Second Edition of PepsiCo’s Greenhouse Accelerator Program calls upon Saudi Startups and Entrepreneurs
Riyadh – Gulf Tech –
Following the success of its inaugural MENA edition, PepsiCo has announced the second regional edition of its Greenhouse Accelerator Program. The theme for the upcoming round is sustainable agricultural practices, which is closely aligned with PepsiCo’s end-to-end transformation strategy, pep+ (PepsiCo Positive) and its underlying ambitions for Positive Agriculture as well as aiding in the region’s relief from food insecurity. Applications are now open to startups and entrepreneurs across the MENA region, including Saudi Arabia.
As part of the program, PepsiCo along with subject matter experts, will offer technical and strategic mentorship to applicants participating in the program, as well as access to local and regional knowledge networks.
“We understand the crucial role of innovation and sustainability in driving forward our pep+ strategy. With the region heavily reliant on imports, it’s essential that we support the passionate changemakers working to make a significant impact through positive agricultural practices. The private sector has an important role to play in addressing the major challenges facing the MENA region, such as food security, arid climate, scarce arable land, and limited water supply, and our goal is to lead by example. We have a significant agricultural footprint in the Kingdom which supports local suppliers and farmers, and we’re committed to making our operations more sustainable and efficient in alignment with Vision 2030’s sustainability goals. The Kingdom’s start-up ecosystem holds a lot of promise and potential, and we’re looking forward to leveraging collective strengths and finding disruptive solutions to critical sustainability challenges”, said Aamer Sheikh, CEO – Middle East, PepsiCo.
Through pep+, the company is working to source crops and ingredients in ways that restore the earth and strengthen farming communities, and the Greenhouse Accelerator Program is intended to unlock innovative and disruptive agricultural solutions in partnership with purpose-driven start-ups from the region.
Established and revenue-generating start-ups that are developing business models related to processes, products, and/or technologies and support the management of direct farming operations to reduce the carbon footprint in the agricultural space and enhance food security in the region are invited to apply via the Greenhouse Accelerator Program Website before the deadline of 10th April 2023.
The participants that are chosen for the six-month program, will be challenged to demonstrate collaboration and measurable progress, based on a mutually developed action plan. They will receive support in the form of a $20,000 cash grant, one-on-one mentorship via access to experts from PepsiCo and partners, market activation and access to networks, and business opportunities. When the program ends, one winning company will be selected and awarded an additional $100,000 in funding to continue its expansion, and a potential opportunity to extend its partnership with PepsiCo to further expedite its growth.
The first MENA edition’s theme was sustainable packaging and recycling, and Saudi start-up Okeanos was among the top 10 start-ups shortlisted for the final phase. The winner was Nadeera, a social enterprise that leverages technology to promote waste sorting at source. Through its ‘Yalla Return’ product, Nadeera drives a trash-for-cash model, providing cash rewards based on the quantity of recyclables consumers turn in.
In Saudi Arabia, as of 2022, PepsiCo’s snacks business had achieved a 22% reduction vs 2015 baseline under the pillar of agricultural water efficiency for potatoes used in supply chain for the snacks business. Additionally, through the installation of efficient irrigation technology in the Wadi Al Dawasir region, PepsiCo in Saudi Arabia replenished 100% of the water it consumed in Riyadh in 2022. Most recently, PepsiCo also signed an agreement with the Saudi Irrigation Organization to introduce best practices in the field of irrigation and help address water sustainability challenges.
