Terms and Conditions
Please read the PepsiCo Greenhouse Accelerator Terms and Conditions. By submitting this application form you confirm that you have read and agree to be legally bound by these Terms and Conditions. As an applicant I represent and warrant that: (i) I have the right to submit the application, (ii) all information provided as part of the application is true, complete and not misleading, and (iii) I have read, understand and agree to the Terms and Conditions for applications to the program
PEPSICO GREENHOUSE COLLABORATIVE ACCELERATOR TERMS & CONDITIONS
These Terms and Conditions will govern submissions to the PepsiCo Greenhouse Accelerator Program (the “Program”) and by making any submission to the Program, you agree that you will be legally bound by these Terms and Conditions. The promoter of the Program is PepsiCo, Inc. (hereinafter referred to as “PepsiCo”).
- ELIGIBILITY RULES
- The Program is open to individuals aged 18 or over at the date of entry and from companies based in The Middle East and North Africa (MENA) region whose brands generated between $1 million and $5 million in sales in the last financial year (“Applicant”). Immediate family members (regardless of where they reside) and/or persons living in the same household, whether or not related, of employees of PepsiCo Inc, its parent, subsidiaries, affiliates, and advertising and promotion agencies, any companies owned by the same and any third party companies associated with the Program are not eligible to participate.
- THE PROGRAM
- The Program offers Applicants the opportunity to receive grant funding and work with PepsiCo executives to grow their purpose-driven emerging health and wellness brands in the food and beverage sector. The purpose of the Program is to stimulate innovation in sustainabilityproducts for MENA consumers as well as to demonstrate PepsiCo’s commitment to open innovation and engagement with the small business community.
- An independent adjudicator will review all applications to determine eligibility and will select up to 20 Applicants who may be asked to provide additional information to a selection team made up of representatives of PepsiCo and independent representatives (the “Selection Team”), either virtually or in person in order to allow the Selection Team to review the Applicant. Afterward, the Selection Team will select a maximum of 10 participants from among the participating Applicants (the “Successful Applicants”). Each Successful Applicant will receive a grant of $20,000, and will be required to participate in the Program for a period ending on or around July 20, 2022. Such participation will include in-person and virtual meetings to complete learning modules. In addition,
Successful Applicants will receive support and mentoring from a PepsiCo team selected by PepsiCo in accordance with the Successful Applicant’s needs. Successful Applicants will be required to submit progress reports and updates, and will be required to obtain the consent of PepsiCo (not to be unreasonably withheld) for the manner in which they intend to use the grant awarded.
- On or about July 20, 2022, PepsiCo will select a winner (Winning Applicant) from the Successful Applicants, based on criteria including focus on consumer health, demonstrable purpose-driven impact, the scalability of the relevant business model and its uniqueness in the market. The Winning Applicant will receive a $100,000 prize and will grant PepsiCo exclusive rights for a period of six months after award of the prize to make an equity investment on mutually agreed terms.
- Decisions of the Selection Team are final and may be made in its absolute and sole discretion. PepsiCo reserves the right to not award any Grants, if in its sole discretion, it does not receive any suitable applications. No details of the deliberations on individual applications will be revealed to Applicants or the public.
- Applications to the Program can be made by completion of the application form at www.greenhouseaccelerator.com (“Program Application Website”) between November 1, 2021 and December 15, 2021 (“Application Period”).
- Applications are invited from companies and individuals who meet the eligibility criteria set out above. PepsiCo’s particular areas of interest in relation to the Program are based on the following criteria:
- Product and brand qualities: based on nutrient profile, potential health claims, natural or organic sourcing, clean label and other factors that appeal to consumers, as well as the obvious qualities of taste, brand presentation and value for price.
- A clear focus on consumer health: includes plant-based food & beverages, natural & functional benefits, energy management, & purpose-driven values
- Presence in the MENA market.
- Scalable business model.
- Uniqueness in the market.
- Once an application has been submitted, it cannot be modified in any way and PepsiCo will not be responsible for any incomplete applications or applications not received, not recognized, not accepted for any reason or delayed.
- No fees shall be payable to any entrant in relation to their Application, save as described above in relation to Successful
Applicants. All related costs/time off will be at the sole and absolute responsibility of the Applicant.
- Applicant represents and warrants that: (i) he/she has the right to submit the application, (ii) all information provided as part of the application is true, complete and not misleading, and (iii) he/she has read, understands and agrees to these Terms.
- Applicant will retain all rights in and to Product, including, without limitation, all intellectual property rights; however, Applicant must not and agrees not to disclose any information confidential to or a trade secret of the Applicant or any third party. All information disclosed by Applicant will be treated as non-confidential by PepsiCo.
- Applicant must declare any conflict of interest (whether actual or potential), such as existing investment by companies which compete with any of the PepsiCo, Inc. group of companies or presence on the management board of individuals who may have such a conflict.
- Applicant acknowledges and agrees that: (i) PepsiCo has wide access to ideas, designs, protocols, methodologies and ideas for products, and that new ideas for products are constantly being submitted to it or being developed by its own employees; (ii) many of those products may be competitive with, similar to, or identical to Applicant’s Product; (iii) PepsiCo will not refrain from developing or authorizing another to develop any products, concepts, systems or techniques that may be similar Applicant’s Product; and (iv) Applicant will not be entitled to any compensation as a result of the introduction by any company in the PepsiCo, Inc. group of companies of any similar product that has or may come to any such company from other sources or is developed by PepsiCo itself or any of its affiliated companies. Applicant acknowledges and agrees that neither PepsiCo nor any company in the PepsiCo Inc group of companies has now or shall have in the future any duty or liability, (whether direct or indirect) with respect to the infringement or protection of Applicant’s patent or other intellectual property rights related to the Applicant’s Product.
- NOTIFICATION OF WINNERS
- Potential Successful Applicants will be notified by email and/or telephone and will have seventy-two (72) hours to respond to notification. Successful Applicants will be required to execute and return a legally binding acceptance of the terms of any grant within seven (7) days of date of notification. If such acceptance is not returned within the specified time period, a notification is returned as undeliverable, or a potential winning Applicant is found not to be in compliance with these Terms, he/she may be disqualified.
- Successful Applicants may not make any public statement regarding the award of a grant without the prior written consent of PepsiCo, not to be unreasonably withheld or
delayed and may be required to take part in publicity in relation to the Program, including (without limitation) publication of their name and image along with non-confidential details of their entry via the Program Website, social media and other press and media channels. No additional payment will be given for this.
Applicant agrees to release, indemnify, and hold harmless PepsiCo, its parents, affiliates, subsidiaries, and advertising and promotion agencies, and the respective officers, directors, shareholders, employees, agents and representatives of the foregoing from any and all liability, losses, damages, claims and expenses resulting, in whole or in part, directly or indirectly, from or related to Applicant’s participation in the Program save where such liability, loss, damage, claim or expense arises as a result of the gross negligence or willful default of PepsiCo.
- GENERAL CONDITIONS
- Applications generated by script, macro or other automated means or by any means which subvert or tamper with the submission process are void.
- Persons who tamper with or abuse any aspect of the Program or who are in violation of these Terms, as solely determined by PepsiCo, will be disqualified.
- PepsiCo reserves the right at its sole discretion to suspend, modify or terminate the Program.
- A failure by PepsiCo to enforce any one of the terms and conditions in any instance(s) will not give rise to any claim or right of action by any Applicant, nor shall it be deemed to be a waiver of any of PepsiCo’s rights in relation to the same.
- Except as specifically set out herein and to the maximum extent permitted by law, all conditions, warranties and representations expressed or implied by law are hereby excluded. To the fullest extent permitted by law, PepsiCo hereby excludes and shall not have any liability to any Applicant in connection with or arising out of the Program howsoever caused, including for any costs, expenses, forfeited prizes, damages and other liabilities, provided that nothing herein shall operate so as to limit or exclude PepsiCo’s liability for personal injury or death caused by its negligence.
- PepsiCo may reserve the right not to grant a $100,000 final prize if a suitable applicant is not identified.
- In the event that any provision of these Terms and Conditions is held to be illegal, invalid, void or otherwise unenforceable, it shall be severed from the remaining provisions which shall continue in full force and effect. These Terms and Conditions shall be construed in accordance with the laws of the United