Got an idea that could benefit your community? It could be worth thousands of dollarsâ€”maybe even a quarter million dollars.
Pepsi has budgeted more than $20 million in 2010 to fund ideas for new community projects submitted by members of the public. The projects to be funded will also be selected by the public via an online vote.
The initiative is an evolved version of 2009’s â€˜Refresh Everythingâ€™ program, and is now being called the â€˜Pepsi Refresh Project.â€™ During the coming year Pepsi Refresh is expected to fund thousands of â€˜innovative, optimisticâ€™ ideas for community improvement projects in six categories: health, arts & culture, the planet, food & shelter, neighborhoods, and education.
According to the story reported by Karlene Lukovitz in Marketing Daily: http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=120549, Pepsi Refresh will issue grants ranging from $5,000 to $250,000, awarded each month.
As previously announced, Pepsi will not be spending millions on TV commercials for this year’s Super Bowlâ€”instead opting to earmark funds toward this combination of cause marketing/crowdsourcing. This is the first time in 24 years Pepsi has bypassed advertising in the big game.
Pepsi has begun promoting the project with social media postings on facebook and Twitter, encouraging consumers to submit their project ideas and get the word out to friends and colleagues.
Pepsi Refresh accepted 1,000 submissions for its February grants. Online voting for that month’s awards begins February 1, and submissions for the March round of grants will be accepted beginning that same day.
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