The Minority Cannabis Business Association (MCBA) has announced the launch of a business accelerator together with Merida Capital Partners to help advance the development of minority-owned cannabis businesses.
The Inclusive Industry (i2) Accelerator program is designed to help increase inclusiveness and diversity within the cannabis industry, develop infrastructure to assist financially-challenged entrepreneurs, and create executive mentorship for minorities.
“The MCBA mission is geared directly to advancing the strategic business partnerships and programs that provide actual entry into the cannabis industry for more than 2.5 million minorities, who have borne the economic, physical and mental brunt of the War on Drugs,” says MCBA President Shanita Penny. “We are excited to launch our partnership with Merida and look forward to working with their team and others as we continue to explore ways to ensure the most inclusive cannabis industry possible.
Merida Capital managing partner, Mitch Baruchowitz says that their goal is to empower minorities with the proper resources, tools, and relationships to build their company into a business that can survive in a highly competitive industry.
Those who enroll in the three-month i2 program will be able to network with MCBA and Merida executives and receive training and high-level mentoring from experts in various industries.
Participants in the program will also receive a minimum investment of $50,000 and a designated working space in Merida’s New York City office.
Merida and MCBA are looking for driven, dedicated entrepreneurs with operational startups who are underrepresented in the cannabis industry and can work from Merida’s headquarters in New York City for a minimum of seven days per month for three months.
Interested parties may submit applications for the i2 program from June 15 through July 15; those selected to participate will be notified by August 2.