PepsiCo10 has partnered with Highland Capital Partners, the global venture capital firm, and technology magazines Mashable and Wired, to launch the European programme.
PepsiCo10 aims to find 10 "promising" technology companies in Europe to work with PepsiCo in the UK, following the programme’s success in the US last year.
A shortlist of 10 companies will work with PepsiCo brands Pepsi, Walkers, Tropicana and Quaker, to develop new ways to engage consumers through innovative technology programmes.
Last year's pilot programme in the US produced a video-sharing platform across the Brisk Tea Brand, a music platform specific for PepsiMax's involvement with the 2011 South by Southwest Interactive and Music Conference, and a virtual reality video game that featured products across the PepsiCo portfolio.
Senior representatives from PepsiCo brands Pepsi, Walkers, Tropicana and Quaker will take part in the judging process.
The 10 entrepreneurial companies will be given the opportunity to work with PepsiCo UK and industry-leaders to create pilots of their technologies.
Hopeful companies can submit their products into one of five categories: social media; mobile marketing; place-based technology; digital video, and gaming or learning platforms. Applications can be submitted at www.pepsico10.com.
Companies are expected to have a "ready-to-go" product, which will be evaluated on its ability to impact on PepsiCo’s brands or further the soft drinks giant’s corporate performance within its health and wellness, environmental sustainability, and talent development categories.
Bonin Bough, global director of digital and social media, said: "PepsiCo10 offers start-ups a unique opportunity to share and develop their ideas with some of the leading brand marketers and media consultants in business.
"It also gives our brand teams access to a new arsenal of tools, helping them remain at the cutting edge of creative consumer engagement.
"We had a fantastic response to the inaugural PepsiCo10 last year, with more than 400 innovative entries and we are excited to be rolling out the initiative across Europe."
Last month, PepsiCo carried out a marketing reshuffle, shifting its Quaker Oats UK marketing director Hayley Stringfellow to the role of marketing director of Gatorade and sports nutrition, UK and Ireland.
