Your cannabis startup could be eligible for a $50,000 investment

Aug 30 2018, 4:30 pm

Leaf Forward, a Canadian-based cannabis business accelerator, is currently accepting applications to its 12-week program taking place in Toronto this fall.

For the first cohort, four to six early-stage cannabis companies will be selected and receive a $35,000 cash investment and $15,000 worth of programming and services.

“Leaf Forward has supported 50 entrepreneurs over the past year, our 12-week program equips cannabis startups with the tools, connections, and knowledge they need to succeed,” Alex Blumenstein, CEO of Leaf Forward stated in a press release.

“With Leaf Forward’s inaugural Accelerator Fund we can now provide early-stage companies with capital, in addition to our leading programming and outstanding mentor network.”

The Accelerator Fund received a $500,000 lead investment from Green Acre Capital, a Canadian cannabis venture fund.

“We believe Leaf is perfectly positioned to help early-stage cannabis entrepreneurs perfect their strategy and business models, and access hard to find seed capital, in the city that has become the global cannabis hub,” said Matt Shalhoub, Managing Director of Green Acre Capital.

In an email to Daily Hive, Blumenstein offered some insight for any startup looking to cash in on this opportunity.

“A few things we look for are creative solutions to an existing problem in the cannabis industry, a team that can execute on the vision, and a proven understanding of the regulatory regime the business is operating within and knowledge of eco-system and cannabis value chain.”

Early-stage cannabis startups from across the country are invited to apply up until September 12, and the program will begin in Toronto on October 15.

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