With the legalization of recreational marijuana in Washington, Oregon, and Colorado, and legalization referenda on the upcoming election ballot in five states, the prohibition mentality is quickly going up in smoke. And it’s not just plants that are growing; it’s cannabis entrepreneurship as well.
If you’re thinking of investing in startups, some argue that cannabis is a high-growth industry. Entrepreneur.com recently published a list of cannabis startups to watch because they’re poised for growth in this new industry. Here are a few of them.
Printabowl. This Washington-based company caters to users who want smoking bowls with a distinct artistic and designer edge. They use 3-D printers to create unique bowls that are poised to become collector’s items.
Gateway. This company is basically a business accelerator and seed investment program. Gateway invests in up to 10 different cannabis startups—giving each startup a $30,000—two times a year.
FunkSac creates child-resistant and odorless bags for distribution of cannabis products. The bags can be printed with business names, product details, or directions for use.
PreciseCannabis is a PR agency for cannabis brands. It helps executives and brands get exposure in mainstream media and industry publications.
GrowBuddy is a cannabis farming manager app. It allows growers to make notes, monitor production and keep journals. It also has a marketplace for growing accessories and supplies.
PotBot is a desktop and mobile app that advises medical cannabis patients on suggested strains and administration methods for specific health issues.
Whatever you think of marijuana use—medical or otherwise—it’s clear that it’s a growing industry. As more states legalize cannabis for medical and recreational use, more startups, including cannabis tourism companies, will emerge with groundbreaking technology and knowledge, to help users navigate the new regulatory structures and buy the cannabis products that best meet their needs.
What do you think of cannabis entrepreneurship? Would you be willing to invest in a cannabis startup? Please share your thoughts in the comments.