PepsiCo is about to introduce the third installment of its digital incubator program PepsiCo10, which provides aspiring digital technology start-ups with a chance to work with the food and beverage giant’s brands. This was announced at What If? Unconference, hosted by PepsiCo at U.S. South by Southwest (SXSW) 2012, a digital, music and film festival, which unites the digital innovation leaders in the industries and often serves as a platform for launching new activities on a national stage.

Photo: PepsiCo10 in India and Brazil, www.phase2.pepsico10.com

So far, the PepsiCo doesn’t provide detailed information on the upcoming round, but the company says the program will now roll out in Brazil and India, the  growing markets, which have a lot of tech creative minds able to contribute their passion and talent to the industry. In the previous rounds of the initiative PepsiCo worked with start-ups in the USA (in the first year) and Europe (in the second year)—the best of the best start-ups from the fields including social media and/or community-based marketing; place-based technology; and gaming or learning to name a few, were engaged in developing new digital product for leading brands in PepsiCo’s portfolio.

For instance, last year the 10 winners, who received £10,000 for their company’s development, collaborated with PepsiCo’s functional team representatives on pilot projects for Pepsi, Tropicana, Quaker and Walkers in the UK. The two previous rounds were launched in early June, so the new extension is also expected in summer, but PepsiCo doesn’t specify the date of the launch.

The conference was a perfect place for announcing such a project since SXSW epitomizes the essence of digital innovation and unconventional thinking. PepsiCo’s What If? Unconference is also giving attendees an opportunity to “collectively brainstorm ideas about what the future might look like by applying digital solutions in surprising ways.” To learn more about the food and beverage giant’s presence on the festival, which is running March 7-18, please visit PepsiCo.com/SXSW. “PepsiCo returns to South by Southwest year after year because we believe that it is a center of culture and brings together the best minds in digital—both influencers and creative thinkers. With, and throughout the festival, we’re looking to gather input from attendees and explore new ways to drive digital forward,» commented Josh Karpf, PepsiCo’s Global Director of Digital and Social Media.