If I understand this correctly, from this page http://pepsico10.com/pepsico-Criteria.htm, Pepsi isn't so much interested in helping a fledgling start-up to change the world, they're looking to partner with already funded start-ups, or businesses that exist but haven't yet made it mainstream.
Not much of an Incubator really. More of a jump on the bandwagon if it's already rolling downhill. If it is barely rolling, it seems Pepsi isn't really even that interested in giving a push.