Cannabis as a launch pad for tech startups
submitted 1 year, 9 months ago by lbt

The cannabis industry is currently one of the fastest growing industries in the United States. Growing at a rate of 30% annually, BDS Analytics estimates it to be worth $22B by 2020, just 6 short years after the first state fully legalized. When we talk about cannabis industry growth, most people immediately think about the cultivation, testing, distribution and retail sale of the plant. And while these businesses are the core of the industry, real opportunities lie outside of those areas in the ancillary sectors. (Afterall, it was Levi Strauss & Co. that was the real winner in the gold rush). This is not lost on emerging technology companies - even those that never intended to be “cannabis companies”. In fact, one of the most exciting trends in the cannabis industry right now is the innovation we’re seeing throughout the space, as new tech companies find cannabis to be the perfect incubator for their technologies. This is happening for a few simple, yet “no-brainer” reasons. First, banking hurdles mean the industry is flush with cash... so much so that some companies don’t even know what to do with it. This makes riskier bets easier.

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