Funding Platforms Emerging for Marijuana Startups
What do tech startups and marijuana ventures have in common? An increasing number of funding platforms are on the rise with the goal of supporting both these enterprises. Many of these startups have Silicon Valley veterans at the helm. In the case of the marijuana industry, although it may still be in its infancy, the potential for growth in this sector has many investors sitting up and taking notice. Among the primary factors now attracting investors to this still fledgling industry is that there is still ample room for innovation.
SFGate reports that the marijuana industry has experienced a 74 percent growth rate over the past year, and has now become a $2.7 billion industry. Currently, the state of California accounts for half of that industry, and it has been estimated that, in the event that marijuana should become legal in California, the industry's revenue could easily double.
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