PLANO, Texas, Feb. 26, 2020 /PRNewswire/ -- Today Frito-Lay has unveiled the 10 finalists in its inaugural WomanMade Expo West Challenge, in which female entrepreneurs will pitch their business plans in a live, rapid-fire format to industry experts for a chance to win from $100,000 in business grants.
The WomanMade Expo West Challenge, a PepsiCo initiative dedicated to advancing female-founded businesses in the food and beverage industry, will take place at Natural Products Expo West on Friday, March 6 from 7:30-9:30 a.m. PT in the Marriot Convention Center, Marquis Northwest.
The Challenge is open to any credentialed attendees of Expo West who would like to learn more about the 10 finalists, all female founders whose businesses have $500,000 in annual revenue and rose to the top with their commitment to innovation and social impact.
The 10 finalists of the inaugural WomanMade Expo West Challenge are:
"We were blown away by the 100+ submissions we received for our inaugural WomanMade challenge, and while it was difficult to narrow down the outstanding work being done by women in the food and beverage industry, the 10 women we've selected as finalists are so deserving of the recognition," said Ciara Dilley, vice president of transform brands & portfolio innovation at Frito-Lay. "Dedicated to championing diversity and inclusion, our entire WomanMade team is proud to do our part in providing much-needed support to female founders as they scale their businesses. We're honored to highlight these women as they continue to be a driving force in our industry."
Each of the finalists will have five minutes to present their business plans, immediately followed by up to five minutes for a Q&A session with the judging panel comprised of PepsiCo executives and fellow entrepreneurs, including:
The top three winners of the WomanMade Expo West Challenge will be announced live on-site and will receive $50,000, $30,000 and $20,000 grants, respectively. Additionally, in partnership with Alice, a free multi-channel platform that helps New Majority Entrepreneurs, all applicants will receive support for their business through the WomanMade Community on Alice, as well as tickets to Alice's Business for All conferences in 2020.
The number of women-owned businesses grew 58% between 2007 and 2018, and by 46% in terms of revenue, according to research from American Express. A study conducted by Mass Challenge and BCG also found that businesses founded by women deliver higher revenue – more than two times as much per dollar invested – than those founded by men. However according to PitchBook Data Inc., of all venture capitalist funding invested in 2018, only 2.2% was given to female-founded companies and only 0.2% went to diverse female entrepreneurs. Additionally, research shows that female entrepreneurs often have less access than male counterparts to the tools and resources they need to launch and sustain successful businesses.
For more information about WomanMade, 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