In one of Anna Barber's first moves since taking over M13's year-old venture studio Launchpad, the former Techstars managing director is opening up applications for its first founders-in-residence program.

Funded by PepsiCo, one of the world's largest beverage companies, the 12-week program is aimed at founders and entrepreneurs with backgrounds in food, nutrition or consumer products.

Unlike traditional VC funds that invest in other founders, the venture studio starts companies of its own. The model has become increasingly popular.

Barber says she wants to cultivate wellness companies that are accessible to most consumers and envisions a range of applicants, from serial founders to health and wellness experts without startup experience.

"It could open up the opportunity to people that might not have previously considered it," Barber said. "There's always a gap between when you decide to start something and when you raise capital and can pay yourself. This will allow you to begin the founder journey immediately."

Barber, who joined M13 two weeks ago, said Launchpad is looking to build companies like Rae, the women's wellness brand that stocks supplements in Target, Athropologie and Urban Outfitters. It was the first startup to be internally incubated at M13.