Even though Latino/a-owned is the fastest-growing demographic in U.S. business, increasing 34% from 2007 to 2019, Latino/a founders received only 1.5% of all VC funding in 2022, according to a McKinsey report. Of that, only 0.1% went to Black and Latina women founders.

Yet, the resounding sentiment remains among many entrepreneurial groups that Latina women are bosses, contributing to businesses from restaurants and flower shops to fintech, beauty, lifestyle and more.

That’s why, in celebration of National Latina Day, PepsiCo’s Juntos Crecemos (Together We Grow), a multi-year, $50 million initiative, launched the third year of its “Jefa-Owned” (owned by a Latina boss) campaign to recognize the economic, cultural and community contributions of Latina women-owned businesses. 

This year, the “Jefa-Owned” campaign features expanded visibility efforts, mentorship and community-building opportunities for Latina-owned businesses in the food and beverage sector, particularly restaurants, bodegas and meat markets (carnicerías). 

PepsiCo partnered with actress and philanthropist Stephanie Beatriz, known for her roles as Detective Rosa in “Brooklyn Nine-Nine,” Mirabel in “Encanto” and Carla in “In the Heights,” as well as the United States Hispanic Chamber of Commerce (USHCC) to run a national effort shining a spotlight on Latina entrepreneurs and encouraging consumers to dine at “Jefa-owned” businesses. 

On Friday (Aug. 16), Beatriz, Evelyn Barahona, SVP of the Educational Fund at the USHCC, and Esperanza Teasdale, VP and general manager of the Hispanic Business Unit at PepsiCo Beverages North America, announced a new grant and mentorship program designed to address the unique challenges faced by women entrepreneurs at an event at Bistro Casa Azul, a restaurant in Harlem in New York City owned by a Latina woman, Maria Gonzalez (pictured at center right below, alongside Barahona, Beatriz and Teasdale). 

PepsiCo Juntos Crecemos will award $200,000 in grants to 20 women entrepreneurs in the food and beverage category to grow and scale their business. The grant application period will be open from Aug. 20 to Sept. 27.

Grant recipients will also gain access to the “Business Health Accelerator” and “Boost Camp” programs, a digital community offering business coaching workshops, mentorship, networking and more. All grant recipients will additionally receive access to the PepsiCo Juntos Crecemos Hispanic Digital and Delivery Program, a five-week series that includes personalized consultations on delivery logistics, technology, marketing and search engine optimization (SEO). 

“We launched ‘Jefa-Owned’ in 2022 to shine a spotlight on Latina-owned small businesses while helping to address the unique challenges they face at every stage of their entrepreneurial journey,” said Teasdale. “Three years into this effort, PepsiCo Juntos Crecemos has supported hundreds of Jefa-owned businesses through various programs and initiatives and remains committed to helping them thrive, through financial, educational and community-building resources.”

“The biggest difference this year is working with the Chamber,” Teasdale told Ad Age. “Their membership includes coverage across the country, across every state, and it enables us to get the message out on what the program is, what the benefits are and what we have to offer so that people can leverage it.” 

In addition to the grant program, throughout the rest of August, PepsiCo Juntos Crecemos will be hosting several “empowerment sessions” for Latina entrepreneurs. Sessions will be held in Latina-owned restaurants in four cities and will feature talks with entrepreneurs including executives from the USHCC and PepsiCo. Sessions will be held at Bistró Casa Azul in New York City, Zingo Tacos in Los Angeles, Dora's Bakery & Bistro in Miami and Mi Tierra in Chicago. 

“Latina entrepreneurs are not just building businesses, they are driving innovation, inclusion and vibrancy within the economic landscape,” said Antonio Escalona, SVP of emerging business at PepsiCo Foods North America. "We are proud to join forces with the United States Hispanic Chamber of Commerce to support entrepreneurs in turning their visions into reality and strengthen the Jefa community at large.” 

On Aug. 23, PepsiCo Juntos Crecemos will launch a national call to action to invite people across the country to dine and celebrate Hispanic cuisine at their local Latina-owned restaurants. To facilitate this, PepsiCo created a list of diverse, Latina-owned restaurants in cities including New York, L.A., Chicago and Miami. 

“The PepsiCo Juntos Crecemos campaign is an incredible idea, and the fact that it’s been brought to life and this is year three is amazing,” Beatriz told Ad Age. “It’s a big deal for a huge corporation to say to consumers [and Latina business owners], ‘We see how hard you're working, we see that you might not have a leg up in the way that maybe traditional business owners do, and we want to give you that leg up. We want to open those doors for you. We want to give you grants, and not only grants but business coaching.’ That's a game changer for some businesses.”  

“Jefa-Owned” is running on social media and through earned media led by Boden Agency. 

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