On February 13th and 14th, the cannabis world convenes at the International Cannabis Business Conference in San Francisco. Attendees will hear from those with success on the ground in commerce, politics, art and activism, learning important business tools as well as how to best improve and protect our marijuana laws. The 2014 ICBC in Portland was named our "Marijuana Event of the Year" and this year's event in San Francisco, headlined by former Surgeon General Joycelyn Elders, will certainly be an historic event and very valuable for those in the cannabis industry.
Here's a preview of three things you'll learn at the ICBC:
California's new medical regulations will cost you. This past November, the CA Legislature passed sweeping reforms to the state's medical marijuana program, changing the face of the industry. The bills set up new systems for licensing at the state level, in addition to local licensing and regulation. Testing rules are being established. Growers will have to adhere to strict regulations around pesticides and water usage.
For existing cannabis businesses, these changes are huge. And for small producers trying to break into the market, it could mean big changes to your strategy and business plan. On Saturday Feb 13th at the International Cannabis Business Conference, Nicole Howell Neubert and Dale Sky Jones will discuss the opportunities and regulatory hurdles we'll face as the changes are rolled out.
The lessons from the legalized states could be the key to your success. What will a fully legalized California marijuana industry look like? We have a good idea, based on what we've seen in Colorado and Oregon.
Since Colorado began taxing and regulating cannabis for adult use on January 1st, 2014, the state's industry has experienced tremendous growth. Total marijuana sales reached nearly $700 million in 2014, raising $76 million in taxes. The cannabis industry boomed, spurring an explosion of new products and services. Some businesses boomed with it, some went bust.
On October 1, 2015, Oregon became the third state to start legalized and regulated cannabis sales to all adults. After the successful Measure 91 campaign, the Oregon Legislature voted to allow medical dispensaries to sell cannabis flower to all adults ahead of the anticipated rollout of a full recreational market. The regulatory scene is still emerging in Oregon but one thing is for sure: the movement is vital to creating a business- and consumer-friendly market.
Learn the latest from these two pioneering states, what is next on the horizon, and what it means for California.
A winning investor pitch appeals to both the head and the heart. The cannabis industry is booming. You've got a great idea but need the funds to get your company off the ground. The good news is, investors across the country are looking at cannabis as the hot new industry. The bad news is, you're not alone. Hundreds of entrepreneurs are jockeying for the same investment dollars. Learn from the pros how to write a pitch that makes financial sense and also inspires investors.