On January 5, 2010, I posted about a new opportunity for funding for "pro-social" entrepreneurs and businesspeople: The Pepsi Refresh Project. To refresh your memory, PepsiCo decided to dump its $33-million advertising plan for the 2010 Superbowl, and instead use the money to provide funding grants to U.S.-based individuals, non-profits, and pro-social businesses to make a positive impact in their communities. Each month, Pepsi promised to award up to $1.3 million as follows: 2 Grants at the $250,000 level; 10 Grants at the $50,000 level; 10 Grants at the $25,000 level; and 10 Grants at the $5,000 level. Pepsi planned to accept 1,000 ideas each month, with the public voting on its favorites. At the end of each month, grants would be awarded to the top vote getters, and the process starts fresh for the next month. Now that the program is well underway, and with entrepreneurs looking for any possible funding alternative, I thought the timing would be good for an update.

Pepsi was indeed very serious about its pledge to use its Superbowl advertising money to fund ideas that would have a positive impact in communities. To date, the company has funded 32 different ideas to the tune of $1.3 million. Here are some of the organizations funded:

• The American Legion of Indianapolis, IN, intends to use a $250,000 Refresh Grant to provide comfort items for U.S. military troops recovering from wounds
• All-Ages Music, a network of music organizations based in Seattle, WA, will receive $50,000 to increase access to all-ages music in underserved areas
• The Belleville Farmer's Market plans to use a $25,000 Refresh Grant to grow fresh produce to help fight childhood obesity in southern Illinois schools
• 14-year old Jonny Cohen of Highland Park, IL, will receive $25,000 for GreenShields, a group he formed with his sister to make school buses more energy efficient
• The Sparkle Effect of Bettendorf, IA, will use a $25,000 Refresh Grant to help high school kids across the country form cheerleading squads made up of special needs students
• Because We Are Sisters of Richmond, VA, will receive $5,000 to support seven families in need as they prepare for the arrival of a baby

Although the majority of grants to date have been to nonprofits and community-based organizations, entrepreneurs and businesspeople are definitely eligible and welcome to submit ideas. Don't forget, however, that these ideas are voted on by the public, and only the top vote-getters will receive funding. The better able you are to engage your employees, customers, communities, and other stakeholders in voting for your idea, and convincing others to do the same, the better your chances of success. Get started today by downloading this informational toolkit.