Canopy Boulder offers startups looking to cash in on the regulated cannabis industry with a $20,000 investment, mentorship and access to ArcView’s network of dispensaries, investors and industry leaders.
Geared towards ancillary businesses in the marijuana industry, the 12-week accelerator program offers entrepreneurs a “startup bootcamp” to refine their ideas, generate traction and perfect their pitch. At the end of the program, participants will have an opportunity to pitch their businesses to the full ArcView Investor Network as part of a “Demo Day,” hopefully leading to an increase in Series A rounds of funding in the cannabis industry.
While Canopy Boulder takes a steep 9.5% equity stake in exchange for their $20,000 investment, the program may prove critical to the success of certain companies. After all, it’s often better to have a smaller piece of a valuable company than have a large piece of a company that’s going nowhere.
“There is no shortage of business opportunities or investors ready to get into the cannabis industry,” said Troy Dayton, CEO of The ArcView Group. “What’s missing is an abundance of well-qualified, and well-supported teams executing pressure-tested, investment-ready business plans.”
Applications are now open for Canopy Boulder’s first class and can be found at www.canopyboulder.com.