Thinking outside the box: PepsiCo takes the Hispanic-owned concept one step further

According to the US Hispanic Chamber of Commerce, Latino businesses generate $800bn for the US economy every year. However, it believes there is the potential to generate even more, but a Latino-owned business is typically knocked down because of limited access to capital, discrimination, limited knowledge of digital tools and other challenges.

Opportunity to fly

That’s why PepsiCo has launched the 2^nd Juntos Crecemos Edition (translated as Together We Grow) of its annual Greenhouse Accelerator – now its ninth iteration and designed to provide startups demonstrating out-of-the-box thinking with the training and access to capital needed to take their idea forward.

Eight businesses will receive $20,000 in funding to boost their growth and will also join a five-month mentorship program that takes a deep dive into brand development, scaling technology, business model development, product optimization and go-to-market strategy. Within that cohort, one will be awarded the $100,000 grand prize and the opportunity to continue working with PepsiCo and Juntos Crecemos to further accelerate growth. 

“We are so excited to launch year two of the program to be a catalyst of growth for emerging Hispanic-owned ventures in the food and beverage industry,” said Esperanza Teasdale, VP and GM, Hispanic Business Unit, PepsiCo Beverages North America.

“Last year's program was a reciprocal exchange of learning. Mentors provided mentees with invaluable business advice and the mentees provided a thoughtful approach to their respective businesses and the industry at large. This cross-pollination of ideas and perspectives is what helps drive innovation within PepsiCo.”

Added Antonio Escalona, Senior VP and GM, Hispanic Business Unit, PepsiCo Foods North America “The success resulting from programs like this one showcases the power of the U.S. Hispanic entrepreneur.

“Embracing the spirit of innovation, our commitment at PepsiCo is rooted in meeting the dynamic demands of today's evolving consumers. We hope to give these Hispanic-owned start-ups the resources needed to shape the future of food and beverage with creativity, ingenuity and relentless dedication.”

Insight from last year’s winner

Daniel Schwarz, founder & CEO of Mexican-inspired snack company Chuza, used his winning grant – along with the expertise he gained – to inspire brand love around the world. Since November 2023, Chuza has been focused on packaging improvements and is now working on finetuning launches expected later this year.

“I encourage all Hispanic business owners in the food and beverage sector to apply for this program and take advantage of all it has to offer because it can help transform your businesses to make an impact in the industry,” said Schwarz.

Since expanding to North America in 2018, the Greenhouse Accelerator Program is supporting entrepreneurial growth and uplifting a wide range of suppliers with one fundamental goal: to foster the growth of entrepreneurs.