CHICAGO, June 16, 2015 /PRNewswire/ -- The Quaker Oats Company, a subsidiary of PepsiCo, Inc., has formed a first-of-its-kind partnership with Chicago's technology hub, 1871. The partnership, which includes support of grants through the Diversity in Entrepreneurship Initiative and title sponsorship of a conference room within the 1871 space, helps Quaker cement its status as a trusted resource to Chicago businesses and act in service to the community in which it has done business for more than 100 years.
"As 1871's first major food partner, Quaker is proud to support entrepreneurship in our own backyard," said Becky Frankiewicz, senior vice president and general manager of Quaker. "As a company that's long been invested in bringing innovation to the marketplace, we understand and appreciate the entrepreneurial spirit. As a result, we see value and importance in helping further innovative thinking in others as a means to launch, grow and sustain their businesses."
1871's 75,000 square-foot facility, which houses over 325 digital start-ups, is the central hub for the technology and entrepreneurial communities in Chicago. Quaker is contributing to those communities by rewarding local diverse start-ups with mentorship opportunities and sponsorship grants for 1871. Two of the recipients thus far include, mRelief, an all-woman team modernizing public benefits by developing online tools that streamline the eligibility determination process for Food Stamps in Illinois and provide referrals to food pantries, and Sustollo, an online crowd funding platform providing individuals and small business owners with resources and support.
"Quaker's sponsorship shows that the brand is a fundamental resource and partner for Chicago's entrepreneurial community," said 1871 CEO Howard A. Tullman. "1871 is committed to providing members with outstanding opportunities and tools to develop and build their businesses. We are thankful for the support and resources that Quaker has brought us through this partnership."
The Quaker conference room is now open to 1871 members, and the Diversity in Entrepreneurship Initiative will continue throughout the rest of the year with additional recipients being selected.
For more information about Quaker's latest innovations, visit www.QuakerOats.com, www.Facebook.com/Quaker or follow the brand on Twitter @Quaker. To learn more about the Diversity in Entrepreneurship Initiative, visit www.1871.com/diversity. More information about 1871 is available at www.1871.com.
About The Quaker® Oats Company
The Quaker Oats Company, headquartered in Chicago, is a unit of PepsiCo, Inc., one of the world's largest consumer packaged goods companies. For more than 130 years, Quaker's brands have served as symbols of quality, great taste and nutrition. Holding leadership positions in their respective categories, Quaker® Oats, Quaker® Rice Cakes and Quaker Chewy® Granola Bars are consumer favorites. For more information, please visit www.QuakerOats.com, www.Facebook.com/Quaker or follow us on Twitter @Quaker.
PepsiCo products are enjoyed by consumers one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $66 billion in net revenue in 2014, 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 22 brands that generate more than $1 billion each in estimated annual retail sales.
At the heart of PepsiCo is Performance with Purpose – our goal to deliver top-tier financial performance while creating sustainable growth and shareholder value. In practice, Performance with Purpose means providing a wide range of foods and beverages from treats to healthy eats; finding innovative ways to minimize our impact on the environment and reduce our operating costs; providing a safe and inclusive workplace for our employees globally; and respecting, supporting and investing in the local communities where we operate. For more information, visit www.pepsico.com.
1871 is the home of more than 325 early-stage, high-growth digital startups. Located in The Merchandise Mart, this 75,000 square foot facility is also the headquarters of nationally recognized accelerators, Techstars Chicago and Impact Engine; half a dozen industry-specific incubators in key areas such as real estate, education technology, food and financial technology; several emerging tech talent schools (Flatiron, The Fullbridge Program, Designation and the Startup Institute), and the state's leading technology advocate, the Illinois Science and Technology Coalition. It is the second home to Chicago-based VCs, Pritzker Group Venture Capital, MATH Venture Partners, Hyde Park Angels, OCA Ventures, OurCrowd and Chicago Ventures, as well as satellite offices for Northwestern University, University of Illinois, University of Chicago, Loyola University Chicago, Illinois Institute of Technology, and DeVry. 1871 has fast become recognized as the hub for the city's entrepreneurial/technology ecosystem and has been featured in TechCrunch, Wall Street Journal, New York Times, Chicago Tribune and Crain's Chicago Business among other top media. 1871 is the flagship project of the Chicagoland Entrepreneurial Center.
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SOURCE The Quaker Oats Company