Application Deadline Draws Near For Marijuana Business Accelerator Canopy’s Spring 2017 Class
Seed capital and “micro-MBA” program for cannabis tech startups
Boulder, Colorado (PRUnderground) December 19th, 2016
Cannabis technology, media, data, hardware, and consumer goods companies are invited to apply and join Canopy’s fifth business accelerator class in Boulder, Colorado. Applications are due December 31, 2016, with early applicants receiving priority consideration.
“The mission of the Canopy business accelerator is to help entrepreneurs do more faster, increase their chances for success, prepare investment worthy businesses, and build a solid foundation for the cannabis industry’s expected meteoric growth,” said Canopy’s Co-Founder and CEO, Patrick Rea.
With a portfolio that includes cannabis-ancillary companies in tech, ecommerce, innovative accessories, media, data analytics and more, the early-stage incubator is looking for the next cohort of marijuana business founders looking to capitalize on the fastest-growing industry in the nation.
Upon acceptance to the program, Canopy offers $30,000 in seed capital (a $10k increase over 2016) and up to $50,000 in follow-on investment from Canopy’s investment fund. Qualifying Canopy companies also receive access to nearly $1 million worth of network discounts on marketing automation tools, co-working space, cloud web services, industry events, trade shows and more.
“Eight states voted to legalize marijuana or expand existing cannabis laws this past November – a very positive indicator for the future of the industry. Now is the time to launch a cannabis business,” said Troy Dayton, CEO of The Arcview Group. “Canopy has proven to be the best place to do that in the marijuana tech space.”
Canopy’s 16-week business bootcamp program is a “micro-MBA” for cannabis startups and focuses on mentorship, education, networking, and developing business traction. Participating companies network and pitch to cannabis investors through Canopy’s partnership with The Arcview Group, the cannabis industry’s largest investor forum, which has helped to raise more than $80 million for 129 cannabis companies since its founding. To date, Canopy’s 38 alumni companies have raised over $15 million.
Hundreds of companies apply to Canopy’s immersion boot camps; up to 10 companies are selected per session. The accelerator program will accept applications for its Boulder location through December 31, 2016, and will begin its Spring program in late February 2017. Canopy’s San Diego program is also accepting pre-applications on a rolling basis. To learn more about applying to the Canopy accelerator program visit https://hubs.ly/H04R5160
Canopy is a venture fund and business accelerator for companies developing ancillary products and services for the legal cannabis industry. Companies are handpicked to receive up to $80,000 in capital and participate in an intensive 16-week accelerator program. Canopy advisors and mentors work closely with each company, helping define business models, refine unique selling propositions, and focus marketing and fundraising activities. For more information, please visit www.canopyboulder.com.
About The Arcview Group
Founded in 2010, The Arcview Group is responsible for a number of groundbreaking ventures in the cannabis industry. The Arcview Investor Network includes more than 650 accredited investors who have put more than $108 million behind 141 companies. Arcview Market Research produces the State of Legal Marijuana Markets report, which is the most oft-cited market data report. In 2015, Arcview became a partner in Canopy. For more information, please visit www.arcviewgroup.com.