Every startup has its challenges, but a cannabis startup comes with additional challenges. Entrepreneurs who want to get in the business face a unique set of hurdles, including ever-changing regulations, legal issues and struggles to set up the right team.
Canopy, a Boulder-based business accelerator program and venture fund for the cannabis industry, chooses ten new enterprises every year for its mentorship and business-building program. The first class graduated in 2015; this year’s companies range from a robotics endeavor to a real estate outfit to an eco-friendly packaging firm.
Micah Tapman, managing director of Canopy, is in charge of the team that narrows down the program applicants. “Finding participants is easy and hard,” he notes. “It’s easy to get a lot of interest; it’s hard to find the gems.”
We recently sat down with Tapman to find out what he thinks is essential for success in the cannabis industry. Then we added some tips from the Women Grow Leadership Summit earlier this month to compile this list of ten things would-be ganjapreneurs need to know: