The results of the first stage of the corporate accelerator PepsiCo LAB were summed up. Over 500 teams from 16 countries competed for the opportunity to cooperate with PepsiCo.
Based on the results of the first part-time stage, the company selected 24 startups to participate in the full-time accelerator program in Moscow. 12 of them were selected in Tech LAB, and 12 – in Food LAB, our center of food startups Mabius was the operator of the food track in this program. This unique project was launched in April 2017 and became the first accelerator of PepsiCo in the Russian market. The main goal of this project is to create a mutually beneficial partnership with startups developing their projects in food and beverage (Food LAB), and innovative IT solutions (Tech LAB).
Based on assessments of the uniqueness of products and their samples, team, business model and marketing concept, as well as market potential and compatibility with the current portfolio of PepsiCo products, the Acceleration program for the Food LAB track has the following projects:
Seaweed chips, kelp chips with vegetables, Moscow
Frutsy, fruit chips without sugar and additives, St. Petersburg
Parenki, an old Russian carrot delicacy, Ekaterinburg
Babushka’s Ferma, traditionally Russian drinks, Moscow
Chimple, cheese chips from natural cheese with the addition of different flavors, Moscow
Fitpro and Fitlite, functional fermented milk products, Moscow
Go Snack, balanced snacks-balls based on cereals and fruits, Moscow
Granolife, granola with freeze-dried fruit, Moscow
Mealbot, bulk snacks from a bottle: dried fruits, berries, nuts, seeds and cereals, Moscow
Megaday, energy jellies, Moscow
Octa, a functional milk drink, a full meal in one bottle, the first smartfood in Russia, Moscow
Street Soup, cold drinking cream soups in a bottle, St. Petersburg
“We created the accelerator PepsiCo LAB, because we are sure that PepsiCo’s cooperation with start-ups will provide growth opportunities for both start-ups and our company. We believe that the best ideas are born in cooperation and we want the young entrepreneurs to consider PepsiCo as a partner that helps them develop their business,” said Dean Robson, Chief Marketing Officer of PepsiCo Russia, Ukraine & CIS. We received more than 500 applications for participation in PepsiCo LAB and are pleased that young entrepreneurs share our vision.”
“We are happy about this lively interest from young entrepreneurs to our corporate accelerator. This suggests that PepsiCo is making a strategically right step, developing a model of open innovation. Having estimated more than 200 applications for the track Food LAB and more than 300 for the track Tech LAB, we saw many interesting food products and technologies, and the selected projects, in our opinion, can be most in demand by consumers or have a great integration potential both in Russia and on other markets”, said Ilya Maltsev, Head of PepsiCo LAB accelerator.
The next three months of full-time acceleration program startups will refine their decisions under the guidance of Russian and foreign experts PepsiCo LAB, work with mentors and coaches in the format of lectures, individual consultations, test solutions and finalize their products using PepsiCo resources. Following the results of acceleration, PepsiCo will choose the technological solutions for launching the pilot, as well as products for the test-market stage.