Most start-ups would leap at the chance for investment and the opportunity to work with a global branding powerhouse to jumpstart their dreams. Now entrepreneurs in Brazil will have that very chance.
PepsiCo on Monday announced the next phase of its digital incubator program, which is setting up shop in Brazil with an open call for entrepreneurs and university students in the country to submit ideas for its PepsiCo10 program.
For the first time in the initiative's three-year history, it's looking to emerging markets for innovation and the big ideas in technology across four categories: business sustainability, entertainment, mobile and retail.
Announced in June 2010, the inaugural PepsiCo10 US received over 500 submissions for just 10 spots, with ideas (see the video above) running the digital gamut including social TV, experience-based gaming, crowd-sourced content creation, and pay-at-the-table digital promotion.
In 2011, PepsiCo10 Europe received applications from start-ups in 18 countries that resulted in marketing pilots with PepsiCo brands Doritos, Quaker, Walkers and Pepsi MAX.
“Along with the search for new ideas, PepsiCo10 supports our strategy of attracting and retaining top talent by giving us a chance to communicate with some of the brightest and most creative young Brazilian minds,” said Cristiana Gomes, director of HR, PepsiCo Brazil.
As part of the program's global expansion to Brazil and India, the first stop is Brazil. That's where PepsiCo10 kicked off the submission process on Monday, at Social Media Week Sao Paolo.
The plan is to finalize the 10 winning entrepreneurs chosen by June 2013. Applicants can submit ideas via PepsiCo Brazil's Facebook page. Phase One is now running through October 27, 2012, and Phase Two begins in January and runs to June 2013 with five winners each round.
Criteria for submissions are:
• Early-stage: The start-up/ company or idea must be in the marketplace for less than three years as of September 1, 2012.
• Technology business: The start-up/ company or idea must have a demonstrable business technology or application. (No agencies please!)
• Ready-to-Go: The start-up/ company or student must have a feasible product that is ready for a business application.
The PepsiCo10 Brazil winners (up to two travelers per winning submission) receive an all-expenses paid trip to New York City in 2013 to meet with PepsiCo brand marketers and US-based digital influencers. Partnerships and pilots for Phase One and Phase Two will begin in 2013.
"We are excited to build the PepsiCo10 roster in Brazil, a growth engine for PepsiCo and a nation brimming with innovative ideas and creativity," said Josh Karpf, Director of Digital Media at PepsiCo. "PepsiCo10 reinforces our commitment to marketing excellence and gives our brands a competitive edge by putting a process behind discovering technologies that enable digital connections with consumers."
Below, an overview of PepsiCo10 to date: