DENVER -- Suits line the conference expo, sleepy faces hiding the excitement of a day of connection, synergy, and enlightenment. It's a fascinating time in the cannabis industry, and these 250-odd people here are looking for either funding, or to fund someone else's dream--and in the process, get their piece. Everyone is here, in Denver, the only place in America that has successfully legalized and implemented adult use cannabis, because they have seen the industry growing at an alarming rate. They have seen legislation sweeping across the nation. They've witnessed the public consciousness in regards to cannabis, changing, day-by-day, person-by-person, state-by-state. Truly, this is the next big American industry. And Colorado is leading the world in this change.
"Welcome to the next great American industry," says Troy Dayton from the podium, CEO of ArcView and the emcee for the day, "I look forward to building it with you."
From security services for dispensaries to lighting solutions; cannabis oil extraction machines to bud trimming machines; insurance services for cannabis businesses to an array of app developers catering to patients and suppliers--all these companies are here vying for capital to launch the next big innovation.
Being a relatively young industry made up of people who are more open minded than your average investors, compounded with the fact that it's a plant that everyone is getting excited about, earth friendly systems and business practices are top of mind. Companies like Surna, a climate control system manufacturer for grow facilities that use 30% less energy than a traditional grow. Efficiencies are being innovated now that will continue to make this industry even more energy efficient and less of a drain on natural resources in the future. Hemp is a word on many people's lips--a earth-friendly plant that can be used as an alternate fuel source, a sustainable building resource, and a material so light and with such tensile strength, it could replace materials from cotton to steel.
Emily Paxhia of Poseidon introduced two companies poresenting for investment that she had been mentoring for the past few months--Auntie Dolores, a edible company, and Clone Shipper, a manufacturer of innovative shipping containers for baby cannabis plants. Emily also moderated a panel discussion with 3 other luminaries in the field discussing financing IPOs and APOs for canna-businesses. It was a very exciting day in that respect where Poseidon got a lot of on-stage exposure.
Truly, this is a unique moment in history. The industry is moving into a place where people no longer have to hide who they are and what they do. This freedom is allowing for a whole new level of innovation. The excitement is palpable. The professionalism is as high as any other industry. Now is the time.
Stay tuned for more updates from ArcView and NCIA events this week!