Cannabis Accelerator Program Opens, but Some Worry About a Corporate Cannabis Industry
As California edges closer toward cannabis legalization for adult recreational use in November, a marijuana-focused business accelerator program has announced a new Berkeley-based boot camp for entrepreneurs.
Based out of the WeWork building on University, the accelerator called Canopy has agreed to invest a total of $180,000 investment in nine startups — though none of them are tied directly to the cultivation, refining, or sale of the drug. The 16-week program aims to refine the businesses, and ultimately help fledgling organizations raise additional capital, according to Canopy CEO Patrick Rea.
“Berkeley is a great place to launch a cannabis business,” Rea told Berkeleyside in a phone interview. “The important thing is to be in California, and to immerse the teams in the largest legal market for cannabis in the United States, especially at a time period when California is voting on legalization.”
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