PepsiCo10: How a drinks company became a global tech incubator
At the South By Southwest Interactive conference in Austin, Texas, PepsiCo announced that it would extend its tech start-up incubator programme, PepsiCo10, to Brazil and India.
First launched in the US in 2010, PepsiCo10 invites start-ups to compete to take part in an incubator programme that allows them to work with its brands and wins them valuable experience. It seeks to identify the most promising start-up companies and matches them with PepsiCo brands to deliver pilot programs of their technologies while receiving mentoring and support from industry leaders.
In its first year, PepsiCo10 received more than 500 submissions, which were whittled down to 25 finalists by a team of PepsiCo technology and marketing executives. From the group, 10 were selected to work on digital marketing initiatives.
In 2011, PepsiCo – which oversees brands such as Pepsi, Walker's chips, Quaker, and Tropicana – extended the programme to the UK and Europe, including Russia, and the company is now looking to the fast-growing markets in Brazil and India as the next step in an emerging global plan.