Pepsi launches tech program
PepsiCo has launched an open-call competition for technology, media and communications startups to submit mobile, social media, location-based retail, and video and gaming ideas.
The goal of the program, called PepsiCo10, is to keep the company innovative by identifying emerging technologies and the people behind them, said B. Bonin Bough, PepsiCo's director of digital and social media.
"We tried to create a program that not only gave us early looks into emerging technologies and new thinking but also helps foster our own talent and gives technology companies access to our scale and development capabilities," he said.
Pepsi will match up to 10 entrants with a different PepsiCo brand team to develop pilot projects. Pepsi will fund and use each of the selected companies' solutions.
Pepsi is working with venture capital firm Highland Capital, social media outlet Mashable and other business partners on the project.
A panel will whittle the field down to 20 entrants, who will be invited to the company's Purchase, NY, headquarters next month to pitch solutions to executives and partner companies.