Canopy Announces Roster of Fall Startups

Industry: Finance

The cannabis industry's first accelerator program invests another $180,000 in nine startups in Berkeley, CA

San Francisco, CA (PRUnderground) August 29th, 2016

The cannabis industry’s first accelerator program invests another $180,000 in nine startups in Berkeley, CA

Nine startups developing businesses from museum-worthy 3D-printed smoking accessories to a ClassPass-like service for cannabis dispensary customers move to Berkeley this week to begin a 16-week entrepreneurial boot camp with Canopy’s marijuana business accelerator program.

The new class, with hometown roots ranging from New Jersey to California, is the fourth class of entrepreneurs to gain acceptance into Canopy with the hope of raising capital and expanding into California’s emerging marijuana market. The 29 alumni companies have already raised nearly $15 million from investors.

“The teams accepted into the Canopy program in Berkeley will have a unique opportunity to capitalize on the California legalization movement,” said Canopy co-founder and CEO Patrick Rea. “Now is the time to launch a cannabis business.”

Hundreds of companies apply to Canopy’s immersion boot camps; the accelerator program selects up to 10 for each four-month session. The entrepreneurs that make the cut receive $20,000 in seed capital and up to $50,000 in follow-on investment from Canopy’s investment fund. Canopy anticipates opening a San Diego office and business accelerator this fall.

The new wave of emerging marijuana businesses is poised to capitalize on the fastest growing industry in the nation. The Arcview Group investor network, a partner in Canopy, has helped to raise more than $80 million for 129 cannabis companies, and estimates the cannabis market will reach $22 billion in 2020.

Canopy’s Fall Class Profile:

  • Printabowl, CEO Al Jacobs. Creating customizable up-market, design-minded elevation instruments for the sophisticated marijuana enthusiast.
  • HookItUp, CEO Sam Zartoshty. A cannabis-friendly, but not cannabis-specific, professional network that connects individuals, entrepreneurs, investors and companies.
  • Grass-Pass, CEO Simeon Schnapper. A solution for dispensaries to incentivize and attract new customers, while offering them the maximum selection of available options.
  • Gupta-Daniel, CEO Benjamin Daniel.Creating marketing and sales data visualizations for dispensary decision makers to identify trends and effective acquisition channels.
  • MyStrain, CEO Chris Cimno. Creating a standardized database of symbols for hundreds of the most popular strains to help increase consumer-recognition and dispensary presentation.
  • The Peak Beyond, CEO Jeff LaPenna. Creating interactive smart tables that provide unique hands-on retail experiences which educate consumers about industry relevant products and streamline POS sales systems.
  • Blu Jays, CEO Michael Rottman. Streamlined rolling packs featuring pre-rolled papers, herb storage, and an “EZ Loader” that simplifies the process of filling papers.
  • AcroVape, CEO Jeremy Campas. A battery-powered vaporizer designed to provide the user with a fresh-tasting, safe and smooth dab consumption experience.
  • Campfire, CEO Will Gaudet. A mobile app that gives users the tools to host and explore cannabis events.

Learn more about Canopy’s current class and portfolio.

Contact: Meghan Grabow, Marketing Director, info@canopyboulder.com, (970) 376-7574

About Canopy

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.

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