The cannabis industry is growing rapidly as more Americans learn what the plant can do medicinally and how much revenue recreational marijuana rakes in for legal states. As an increasing number of states legalize both medical and recreational marijuana, the industry could approach $9 billion by the end of this year, and that’s just the beginning.
Sometimes it seems that everyone wants a piece of the pie, but how do you get started? One simple idea can be turned into millions of dollars, but budding entrepreneurs need help getting out of the gate.
The Fresh Toast sponsors a one-day conference, Cannabrunch, which takes place in New York, Toronto, Ft. Lauderdale and Beverly Hills thoughout the year.
Last month saw the New York conference, which was sold out weeks before the event took place on September 19 at the office of Dorsey & Whitney. The Cannabis Private Investment Summit, which runs Cannabrunch, has a mission to “Bring together the best and brightest cannabis entrepreneurs and ultra-high net worth investors and family offices with the goal to create a unique and intimate meeting for those seeking to find deals and necessary educational tools to thrive in the cannabis industry.” They come though in spades.
The rainy day in September was was packed with educational seminars, including “An Overview of The Legal Marijuana Industry In The US,” “What Agriculture and Consumer Markets Can Teach Us About Cannabis,” “International Emerging Market Opportunities,” “Cannabis Investing and Multi-State Opportunities,” “The Benefits of an Investment Fund in the Cannabis Industry,” “Marijuana Banking,” “Medical Marijuana,” and “The Emergence of Private Equity in Cannabis.”
Perhaps the most interesting for entrepreneurs was the “Investor Pitch Session,” during which five companies each got seven minutes to pitch to a room of investors. This year’s New York winner was GoFire. The GoFire vaporizer works in tandem with an innovative app that allows users to identify how multiple concentrates and extracts affect them. Their system aims to enable patients and caregivers alike to study the unique formulas of consumption—the potency of the bud, loose leaf or concentrate, how much was inhaled—then compare that against the desired outcome. That information will be relayed to partners and enhance product knowledge in the future.
A full day of networking and education was followed in the best way possible: a cocktail party in more of the most beautiful residences in New York City, high atop 57th street on the 72nd floor. By the end of the evening everyone was friends. Investors had leads as to where they should invest their money and entrepreneurs had solid contacts with those who wish to invest. What could be better than that?
Want to break into the marijuana industry? Don’t miss the Cannabis Private Investment Summit in Toronto, November 2, 2017.