Investment firm offers CA$1M seed money to Canadian marijuana entrepreneurs

A serious funding firm is placing 1 million Canadian dollars ($780,000) on the desk for aspiring hashish entrepreneurs in Canada.

Canopy Rivers Corp.’s program is open to entrepreneurs wanting to entry Health Canada’s proposed new licenses for micro-cultivation, nurseries, industrial hemp, processing, analytical testing, retailers and different rising segments.

“This is a way to help support a lot of the up-and-coming entrepreneurs in the industry,” Daniel Pearlstein, head of enterprise improvement for Toronto-based Canopy Rivers, informed Marijuana Business Daily.

Canopy Rivers is a partly owned subsidiary of built-in medical hashish producer Canopy Growth, which is traded on the Toronto Stock Exchange underneath the image WEED.

Under the present laws, medical hashish producers have to be vertically built-in – they’re required to produce, course of and ship the hashish immediately to sufferers. That leaves little room for specialization.

“The proposed regulations will allow for different kinds of businesses that will segment the value chain and fragment the parts of businesses where companies can specialize in unique verticals,” Pearlstein stated.

The CA$1 million being provided by Canopy Rivers could possibly be divided amongst numerous corporations, relying on the standard of the candidates.

So what’s Canopy Rivers on the lookout for?

“Ultimately it would have to come down to a unique set of people with a defined vision for their business plan,” Pearlstein stated.

Potential entrepreneurs can apply on the Canopy Rivers web site. From there, some can be invited to pitch their concepts in entrance of a panel of business professionals and representatives.

Matt Lamers could be reached at [email protected]

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