Presentation of final grant to the dairy alternative start-up concludes a second successful year of PepsiCo’s incubator initiative in Europe
The ten European companies more than doubled their combined revenue during the six-month programme
Israel-based start-up, Yofix, one of the 10 finalists in PepsiCo’s European Nutrition Greenhouse programme, has been awarded the final €100,000 grant following a six-month journey. Yofix, which makes clean-label plant-based fermented dairy alternatives impressed PepsiCo’s selection committee with its strategic launch and significant retail growth during the programme.
Earlier this year Yofix was announced – along with nine other breakthrough brands in the food and beverage sector – as a finalist in the second edition of PepsiCo’s Nutrition Greenhouse in Europe (www.nutritiongreenhouse.com/europe). Over the past six months, each start-up has received dedicated mentorship from a carefully selected PepsiCo expert to help them overcome market challenges and address important early-stage business issues such as corporate structuring, marketing positioning and branding.
PepsiCo also gave each finalist a €20,000 grant to kick-start the programme and help them accelerate their business to the next level. All ten companies have grown significantly, not only in terms of strategic brand evolution and expansion but also financially, with sales of the collective group during the six-month programme increasing by 145% compared to the same period last year.
Yofix was chosen as the recipient of the €100,000 prize after an extensive review and assessment period, carried out by nine members of the Nutrition Greenhouse selection committee. The company significantly scaled up its operations during the six month programme, including completion of a manufacturing facility in September, a nationwide new product line launch in Israel, as well as the strategic development of an international go-to market plan.
The Nutrition Greenhouse programme plays an important role in demonstrating PepsiCo’s commitment to its Performance with Purpose agenda, particularly its goal to bring more convenient, nutritious options to consumers. For more information on Performance with Purpose visit http://www.pepsico.com/sustainability/performance-with-purpose