Cannabis operators in the United States have a new opportunity to grow their businesses courtesy of San Francisco-based cannabis marketplace Eaze and its partners Ultranative and Bail Capital.
On Tuesday, September 24, Eaze and its partners announced the launch of Momentum, a business accelerator aimed at helping underrepresented cannabis business founders in the country grow their companies and succeed.
“Starting a new cannabis business can be especially challenging for entrepreneurs who have been historically marginalized or victimized by the War on Drugs,” said Eaze Director of Social Impact Jen Lujan. “All cannabis operators have a responsibility to help build a diverse and equitable industry and Momentum is another way Eaze and our partners are supporting this important goal.”
The first group of ten participants in Momentum will receive a $50,000 grant, participate in a ten-week education program led by industry experts, and have access to Eaze’s business, marketing, and retailer resources.
At the end of the program, participants will have the opportunity to make pitches to industry-defining investors for the chance to raise additional capital to grow their company.
Momentum applicants will be evaluated on their lived experience, current barriers, and potential for success in the cannabis industry.
All applicants with THC-focused companies must have state and local licenses and CBD businesses must be enrolled in the Federal hemp pilot program.
California Urban Partnership CEO Malaki Seku Amen says that Momentum creates an exciting opportunity to build and expand relationships between founders and industry leaders who are working together to create a strong and equitable cannabis industry.