Cannabis startups and the ghost of Nancy Reagan
Submitted by Marijuana News on Thu, 07/28/2016 - 09:11
Over my career, I've helped build and deploy weapon systems, music videos, mainstream movies, pornography, firearms and sex toys. But when I co-founded Gateway, an accelerator for startups in the cannabis industry, many friends responded by saying, "I never thought you'd do a thing likethat!"
If, like my friends, you grew up during the Nancy Reagan "Just Say No" era, the idea that the marijuana industry could be a positive force in society may seem preposterous.
It’s not preposterous at Gateway. Twice a year, 10 startups receive four months of mentorship and an investment of $30,000 in exchange for 5 percent. The startups range from payment-processing technology and genetics software to edible brands and distribution businesses.
The cannabis industry could reach $100 billion by 2029 in the U.S. alone. But the path to expansion isn't without obstacles for entrepreneurs struggling to build companies.
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