PLANO, Texas, March 10, 2020 /PRNewswire/ -- Thanks to the power of webcams and Wi-Fi, Frito-Lay's inaugural WomanMade Challenge pivoted to host its finalist pitch-slam online after Natural Products Expo West was postponed indefinitely last week, awarding $100,000 in business grants to three female entrepreneurs on Friday as planned. Originally intended to be a live, rapid-fire event, WomanMade leveraged the power of technology to carry on virtually via Zoom, committed to advancing and providing much-needed support to female-founded food and beverage businesses.
Ten finalists, chosen from more than 100 applicants, presented to the panel of five judges comprised of PepsiCo executives, fellow entrepreneurs and other industry experts, including Lisa Lillien, founder of Hungry-Girl.com, before three were named winners:
The winning female entrepreneurs will receive $50,000, $30,000 and $20,000 grants, respectively, that can be used in any aspect of their businesses. Joining Lillien on the judging panel were Jennifer Saenz, president of PepsiCo Global Foods; Ciara Dilley, vice president of marketing, transform brands & portfolio innovation Frito-Lay North America; Shane Emmett, co-founder of Health Warrior; and Hannah Hong, co-founder of Hakuna Brands and winner of the 2019 Stacy's Rise Project.
"Female founders are the epitome of persistence in the face of unexpected obstacles, so we as a team knew immediately that we couldn't let the cancellation of Expo West deter us from bringing the WomanMade Challenge finalists together and awarding our winners," said Dilley. "We are so grateful to the finalists and judges who adopted new technology to join us in ending the week on an uplifting note, inspired by all 10 women and the brands they are building."
The 10 finalists of the inaugural WomanMade Expo West Challenge – including Jessica Levison of Peekaboo Ice Cream, Cecilia Panichelli of Cocina 54, Brooke Rewa of Goodmylk, Rana Lustyan of Edoughble, Allison DeVane of Teaspressa, Katie Jesionowski of My SuperFoods, and Jill Robbins of Homefree – represented a diverse group of business owners:
According to PitchBook, in 2019 female entrepreneurs again received a meager percentage of all venture capitalist funding, specifically 2.8%, up from 2.2% the year before. Research conversely shows that women-owned businesses have an average ROI of two times per dollar invested and that companies with diverse management teams deliver higher on innovation while also having lower employee turnover.
In addition to awarding a total of $100,000 in business grants to three female entrepreneurs, in partnership with Hello Alice, a free multi-channel platform that helps New Majority Entrepreneurs, all applicants will receive support for their business through the WomanMade Community on Hello Alice, as well as tickets to Hello Alice's Business for All conferences in 2020.
For more information about the WomanMade Challenge, please visit www.helloalice.com/communities/womanmade-by-pepsico. To learn more about Frito-Lay, please visit www.fritolay.com.
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $67 billion in net revenue in 2019, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including 23 brands that generate more than $1 billion each in estimated annual retail sales.
Guiding PepsiCo is our vision to Be the Global Leader in Convenient Foods and Beverages by Winning with Purpose. "Winning with Purpose" reflects our ambition to win sustainably in the marketplace and embed purpose into all aspects of the business. For more information, visit www.pepsico.com.
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SOURCE Frito-Lay North America