Hundreds of optimistic entrepreneurs and potential investors flooded into Philadelphia on Saturday to garner insight into the state's budding cannabis industry, but experts cautioned against overzealous ventures into a market still facing many roadblocks.

Less than two weeks after Gov. Tom Wolf signed a bill to establish a medical marijuana program, Philadelphia-based Greenhouse Ventures hosted the state's first "Innovation in the Cannabis Industry" conference at the Chemical Heritage Foundation.

The eight-hour conference, which was a part of Philly Tech Week 2016, featured panelists discussing various cannabis industry topics including investments trends, future business outlook, technology and medicinal research.

Jodie Schaefer, a Doylestown vape shop owner, said she attended the conference to learn as much as possible as she begins the process of attaining one of the state's 50 available dispensary licenses.

"I don't know why, but I'm confident I'm going to get one," said Schaefer, who added that she's already teamed up with...