This year’s New York City annual cannabis parade brought out a who’s who of New York politicians and activists. Senator Chuck Schumer told the Green Market Report that he and Senator Booker will be introducing legalization legislation in a few weeks. In addition to Schumer, NY Attorney General Tish James spoke about social equity, Steve DeAngelo reminisced about his first NYC cannabis parade when he was 17. Vlad Bautista from Happy Munkey spoke for legacy operators, Tonya Osbourne represented cannabis women, Grizzzly BoCourt spoke on behalf of social equity applicants and Blinc CEO Arnaud Dumas de Rauly voiced his excitement over the soon to be legal market in New York. Thank you for watching the Green Market Report! Be sure to subscribe to stay up to date.
Gia Morón is the Founder & CEO GVM Communications, Inc a public relations, brand strategy and business development firm. She launched the company on April 20, 2012. The firm’s client base ranges from small to midsize firms to successful entrepreneurs. Ranked in Forbes in 2019 as one of the leading PR firms in cannabis, Gia and her team work closely with lobbying firms, policymakers, MSO to small operators. Her diverse team of professionals collectly have over 3 decades of experience.
In addition to GVM Communications, Gia is also the President of Women Grow, the largest professional network for women in the cannabis industry. At the company, Gia oversees the company’s day-to-day operations, internal and external communications, education programming, and strategic partnerships.
With over 25 years of experience in communications, prior to launching her firm and Women Grow, Gia was a Media Relations Officer in the Corporate Communications department for fifteen years at the investment banking firm Goldman Sachs Group Inc. Before joining Goldman Sachs, she was Director of Promotions and Publicity for six years at The Fremantle Corporation, an international television distribution and production company. Outside of her professional accomplishments, she continuously works with a number of non-profit organizations and mentors up-and-coming young women entrepreneurs across the country. She is a board member for Minorities for Medical Marijuana, advisory board member for CWCBE, and Coalition Member for Start-SMART NY. Gia currently resides in her hometown of Brooklyn, NY, with her daughter.
GMR Executive Spotlight Interview Q & A:
Full birth name: Gia Morón
Title: Founder & CEO
Company: GVM Communications, Inc
Years at current company: 9
Most successful professional accomplishment before cannabis: Instead of successful I would like to say most helpful professional experience before cannabis was working on Wall Street. The knowledge and experience I gained during my time there prepared me for the cannabis industry. But to directly answer the question, launching this company was my most successful accompaniment. I did it by myself. Self funded. No financial assistance from anyone. While GVM reflects the initials in my name, the company name actually stands for Great Visions and Minds Communicating.
Company’s most successful achievement: Lending our expertise in advising some influential people inside and outside of the industry. Seeing their brands and strategies flourish feels rewarding knowing we had a part in their success. Due to confidential agreements we cannot disclose names or details but we have full confidence in our knowledge and talents.
Has the company raised any capital (yes or no): No
Any plans on raising capital in the future? Yes, we have goals to expand into other areas of communications.
Most important company 5 year goal: Our goal is to expand to multiple communications platforms to provide service and education. COVID heightened our awareness that key tools are missing for small businesses and I strongly believe we can deliver a need to the business community as we see a necessary shift evolving.
Last month, for the second time, the Emmanuel Baptist Church (EBC) in Brooklyn New York teamed up with Women Grow, the largest professional network in the cannabis industry, for the Business of Cannabis Summit. Launched in 2019, the Summit is designed to be a resource to help Black and Latinx communities enter the burgeoning legal cannabis and hemp industries.
The inaugural Business of Cannabis Summit took place in 2019, with 400 people gathered in attendance at the church, and over 60 speakers. The two-day summit brought business leaders, industry experts, and advocates together discussing topics from social justice, to winning a license and creating products, to reinvesting in communities. After the 2020 event was canceled due to the COVID-19 pandemic, this year’s Summit took place virtually over two days: February 19th and 20th, and more than doubled its inaugural audience, welcoming over 2,000 virtual attendees.
Rev. Anthony L. Trufant, EBC executive pastor, author, and nationally noted church development consultant, noted that the “collaborative experiment” between EBC and Women Grow may be seen as an “unorthodox partnership,” but one that has been successful at addressing the health disparities and economic discrimination that negatively impact communities of color — particularly African Americans.
“As Black entrepreneurs in the legal cannabis market, we appreciate the role the church has always played in our community,” says Gia Morón, President of Women Grow. “Creating a partnership with a Black church, especially one as large and influential as EBC, can be critical in helping the community better understand and accept responsible uses of cannabis as a medicine, and its potential as a business.”
The Summit featured live discussions from cannabis industry leaders and innovators including Niambe Tosh, daughter of reggae legend Peter Tosh; Drug Policy Alliance Executive Director Kassandra Frederique; Wanda James, the first Black person to open a licensed adult-use dispensary (Simply Pure); and Dr. Chanda Macias, the first Black woman to open a licensed medical marijuana dispensary (National Holistic Healing Center) and CEO of Ilera Holistic Healthcare, which partners with Historically Black College/University (HBCU) Southern University in Louisiana as one of only two cannabis licensees in the state. Through that historic partnership, SU became the first HBCU in the country to create and launch hemp and cannabis products. Others included Regina Smith, Executive Director of Harlem Business Alliance, Leo Bridgewater a cannabis advocate and veteran from New Jersey, Roz McCarthy of Minorities for Medical Marijuana, Jawanza Williams Director of Organizing of Vocal New York, Jessica Gonzalez a New Jersey Cannabis Attorney, Mary Pryor of Cannaclusive, Melissa Moore of Drug Policy Alliance, Cristina Buccola a New York Cannabis Attorney, Chenae Bullock of Shinnecock Nation Tribe and Jacqui Williams of 99 Solutions.
Medgar Evers Community College (CUNY) in Brooklyn, NY announced at the summit the Fall 2021 launch of its Cannabis Minor program. This will be the first community college in New York state to launch such a program.
Topics discussed included adult-use legalization in New York and New Jersey; how to start a cannabis business; careers in cannabis; creating CBD hemp products; trademarking your cannabis business; investing in cannabis stocks and businesses; majoring in cannabis (college/continuing education programs); understanding land use and cannabis real estate; and how the cannabis industry can reinvest in our communities.
Women Grow, the largest professional network for women in the cannabis industry, is uncertain if their annual Leadership Summit will return in 2021.
“We’re still uncertain if we will return next year. When we considered the risk and our protocol is everyone’s safety is first. Yes, we are a business but our community is important to us,” said Gia Morón, President of Women Grow. “But with no Leadership Summit this year, we had to come up with other creative ways to stay engaged so we shifted to social media LIVE talks. Meet them where they are,” said Morón.
In March at the start of the pandemic, the company shut down all of its Signature Networking Events (SNE) before lockdowns began. The shift to social media joined Women Grow with the ranks of their peers but it was during the lockdown the company launched its #adulthomeschooling program.
Women Grow took all the elements it used at its SNE and applied it through various education options.
“We wanted to keep our community engaged just as they would at SNE or summit except virtually. We’ve partnered with some amazing companies like Green Flower Arcview, Curaleaf, and M4MM with more partnerships to come. The idea of a virtual conference is still on the table but we’re still in talks,” said Morón.
New Jersey votes on cannabis legalization in less than two months and entrepreneurs are getting creative to get-out-the-vote.
Educational events company Accelerate Cannabis is flying planes over the Jersey Shore to redirect public attention to advocacy groups and legalization messaging.
The State only has a handful of fully-vertical MSO’s currently and legalization will open the market to the industry at-large.
In less than two months, New Jersey voters might start a chain reaction on the East Coast to legalize cannabis and create a fertile market sandwiched between New York and Philadelphia – that is, if nothing goes wrong for advocates clinging to a close polling margin.
“It’s so easy to get trapped just talking to people on our side,” said Ellie Siegel, producer of Accelerate Cannabis events and lead sponsor for the Aerial Advocacy Campaign, “we needed a way to reach millions in the State with clear reasons why they should ‘Vote Yes’ and to tell everyone they know to make it down-ballot to the referendum.”
With social distancing in effect, Siegel sees this campaign as a way for businesses to reach both everyday voters and industry actors, “webinars and virtual conferences don’t tend to attract newcomers in the same way and as New Jersey becomes one of the hottest markets in the world, our mission has been to educate and create a sophisticated network of service providers and advocates who are ready for expansion.”
From 500 ft in the air, six feet of separation seemed to matter less as visitors flocked to the Jersey Shore over Labor Day Weekend. Accelerate Cannabis is flying a banner again this Saturday to keep the momentum going and hopes to continue mass market advocacy as the season changes.
Supporters of the Aerial Advocacy Campaign include Longview Strategic, an industry consulting firm focused on licensing and expanding emerging markets, as well as Women Grow, a female-led cannabis networking community, and Trichome Analytical, a local testing lab in the State. “We are all coming together to draw attention to the advocacy efforts of #NJCAN2020,” Siegel continued, “this coalition has been formed by people who have dedicated their careers to trying to get legalization right and we want the public to turn to them for information and resources about the ballot question.”
The campaign also links to Headcount’s Cannabis Voter Project, a multi-tiered effort through the entertainment industry to get-out-the-vote. With fewer venues, concerts, and live events offering spaces for mass market advocacy, people are finding new ways to support the legalization message and remain socially distant.
Editors Note: This article was reprinted with the approval of the writer Mai Perkins.
It was late spring 2018 in Clinton Hill, Brooklyn, not far from Biggie’s old stomping ground, when Emmanuel Baptist church hosted a free financial empowerment workshop called Exodus: Exiting Egypt. The all-day seminar was well attended by members of the congregation and featured panels on general topics like debt relief and estate planning.
What would set this event apart from others likely to be held at churches around the country with a vested interest in their community base were two unexpected workshops: Understanding Bitcoin, and The Business of Cannabis.
Being a member of EBC, I was amazed to discover that I could explore both topics of interest at my home church in a completely judgment-free zone, and decided to attend. I understood that these just were not your average subjects among Black churchgoers, and particularly not discussed at the house of the Lord. Or so I thought!
I’ll be honest. Part of my motivation was to attend just to see who else would be in the room. And considering the handful of people who sat around the table listening to Gia Morón, Executive Vice President of Women Grow, it didn’t really dawn on me that eight months later her organization would collaborate with Emmanuel to create the first ever church-hosted Business of Cannabis Conference.
So how did all of this come about, anyway? Ten minutes into that first low-key workshop, Reverend Anthony L. Trufant, better known as Rev., sauntered into the room to all of our amazement, and sat down to join the discussion. With great joy, he and Gia recounted a chance meeting, one that both believed was orchestrated by the hand of God.
Months earlier, they both had arrived at Penn Station on the same train and decided to share an Uber back to Brooklyn. During that divine appointment, Rev. asked Ms. Morón what she’d been up to, completely unaware that her answer would lead to a destined partnership between his church and Women Grow.
“$105 million: The estimated annual sales tax revenue generated by medical marijuana dispensaries in California, according to the Marijuana Policy Project, a Washington, D.C.-based group that supports legalization.”
Her countenance lit up as Gia explained her current role with the nationwide advocacy organization that supports women with connections to help them own and lead cannabis related businesses. Admittedly, she was a little apprehensive, sharing the details of a perceived controversial, if not taboo, choice of profession.
But Gia’s conviction for and commitment to dismantling what she felt were distorted, negative imaging and factually inaccurate beliefs related to cannabis, across the board, led her to share her testimony with Reverend Trufant.
It was the passion in her words, her keen fact-based knowledge, and her personal experience that convinced Rev. that Emmanuel would not only benefit from, but welcome her message as a cannabis evangelist. Taking a risk, to Gia’s surprise, he invited her to speak at the financial empowerment workshop months later.
From that chance meeting, and two small breakout sessions up on the second floor of the church, the vision for The Business of Cannabis Conference was established. And what has come to fruition nearly a year later is a cannabis event of great proportion, never before seen within the confines of a religious institution.
Certainly not the Black Baptist church. But unlike the meeting in June, this event emerged as a hot ticket item, selling out weeks in advance to attendees with varying levels of interest in cannabis from across the country.
“$134.6 million: The amount of estimated tax revenue Maryland would earn every year if it legalized and regulated marijuana, according to a 2014 estimate from the Maryland Department of Legislative Services.”
Very little was announced beforehand of what to expect beyond the workshop titles to register for during the week leading into the conference. The panels included: Acquiring Cultivation or Dispensary Licenses; Ancillary Businesses/Careers in Cannabis; Integrative Cannabinoid Medicine by the Knox Family; Medical Benefits of Cannabis and Hemp; The Need for Equity Programs; Cannabis 101; Social Justice and Policy Reform; Destigmatizing Cannabis; Parenting and Cannabis: Learning Together; Healing with Hemp, CBD and Cannabis: topicals, vapes, edibles, and more; Types of Businesses in Cannabis; and, Networks and Industry Conferences in Cannabis.
In addition to these twelve breakouts, there were five Q&A rooms where attendees could pop in and speak with professionals from the industry, which included: What is Unaccredited Investing?, How to Enter the Cannabis Industry, Questions About Legalization of Cannabis, Ask the Medical and Science Professionals, and, Opportunities for Women in Cannabis.
Each panel included POC and women entrepreneurs, attorneys and advocates, dispensary owners and growers, medical doctors and researchers, business analysts, public relations professionals, and content creators. Several cannabis advocacy and media groups from coast to coast contributed to panels including Estrohaze, Cannaclusive, MJM Strategies, Cannagather, and the Minority Cannabis Business Association.
A common thread among the speakers was that each one managed to take their prior work experiences and parlay that expertise into the cannabis industry. Moving throughout the day you could truly feel the essence of the mantra: Whatever YOU do, do it in cannabis!
As if the outpouring and overwhelming amount of information were not enough, the conference also welcomed a riveting keynote address from the CEO of Women Grow, Dr. Chanda Macias on dispelling the myths of cannabis. Dr. Macias, who earned her Ph.D. from Howard University with a concentration in Cell Biology, evoked the passion of civil rights leaders as she beseeched the packed audience with her searing words. She implored us to take our rightful ownership in this fight for equityfor people of color within the cannabis industry as legalization, from the state to the federal level, continues to take shape.
An overarching theme of the conference was the Social Justice component that points to why it has become an imperative to demand Equity Day One in cannabis legislation as the end of marijuana prohibition nears. Social Equity simply means reinvesting a portion of the newly generated capital from the legalized cannabis industry directly into Black and Latino communities.
These are the neighborhoods that were impacted by unprecedented marijuana arrests and convictions due to Nixon’s damaging War on Drugs campaign. Research studies and anecdotal knowledge have starkly proven how the War on Drugs targeted communities of color, grossly contributing to the United States having the highest incarceration rate in the world.
Because of this, advocates in the multibillion dollar industry are demanding that these very people are poised to stake their claim now that the same marijuana plant that locked up scores of men and women is being sold in their neighborhoods primarily by white-owned cannabis companies. “Do not miss this boat…,” Dr. Macias charged the audience, who responded in agreement.
Adding to the progressive conversation were remarks by New York State Attorney General, Letitia James; Congressman Hakeem Jeffries; Assistant Counsel to Governor Cuomo, Jason Starr; Councilwoman Laurie Cumbo; Senator Velmanette Montgomery; and, Brooklyn District Attorney, Eric Gonzalez.
Each representative acknowledged the need for deliberate goals and strategic policy planning on the part of advocates, lobbyists, constituents and elected officials to be on the right side of history by creating legislation with day one social equity as New York State approaches legalized recreational cannabis in 2019.
Lobbyists also distributed form letters urging attendees to be a part of the political process by contacting their Senators and Representatives in Albany so that they are fully aware of the demand for Equity Day One.
As the reverend, Anthony Trufant, thanked Gia Morón’s and his own staff for working so tirelessly around the clock to pull off this crowning achievement, particularly during Black History Month, you couldn’t help but feel how monumental and historic this day was.
Revolutionary in his own right, Trufant is a Morehouse College educated faith-based visionary with a commitment to moral and social justice, which is why he was entrusted with this mission to help bridge the gap between the cannabis community and the church, despite initial pushback from some of EBC’s established members.
When both he and Dr. Chanda prayed from the pulpit, there was a sincere and humbled thanksgiving each expressed to God for the many health and wellness benefits of the cannabis plant. “We thank you for reminding us that You have already placed on the planet resources that can help us to ease pain, resources that will enable us to move forward as a community, and to provide economic opportunities.
We pray, oh God, that you will enable us in the justice work, to join our Brooklyn DA and our Attorney General for the State of New York, as well as our legislature and governor as they deal with legislation that is pending. May we, the citizens, give them the support and the backing that they need to take this courageous step. And finally, God, we pray for men and women, boys and girls who are in great pain today.
We pray that they will experience some degree of relief, that they will have an opportunity to be able to partake of that which you’ve planted so that the pain will be eased for them. Oh God, as we go our respective ways, be with us. We ask this in the name of our God. Amen.”
– Contributed by Mai Perkins
Mai Perkins is Cali girl in a Bed Stuy world, with several blogs under her belt including Uberlicious.nyc and MaiOnTheMove.com. She is a contributing writer for the music publication Pop-Mag.com, and has written for Relevant and Bust Magazine.
With an MFA in Creative Writing from Sarah Lawrence College, and an MA in International Affairs from The New School, she reps her beloved alma mater, Howard University, every chance she gets. As a poet and a non-fiction writer, she has just published her first manuscript, The Walking Nerve-Ending, available now on Amazon & Kindle.
Fashion met cannabis this past weekend as Project Runway Allstar, Korto Momolu, partnered with Women Grow, the largest network of women in the cannabis and hemp industries for a runway show spectacular. The combination of high fashion and activewear emblazoned with the Women’s Grow logo was well-received by an enthusiastic audience.
Models sashayed down the runway with some proudly taking hits on vapes as they meshed glamorous high fashion and cannabis consumption. The show embraced the idea that women can be seen in flowing beautiful gowns and also consumer cannabis whether it be CBD or THC.
Momolu debuted a runway collection of women’s ready to wear that embodied the power, influence, and strength of female leadership. The fabrics chosen for the outfits were from many sustainable materials including hemp fabric, linen, jute, and cork. The activewear from the Women’s Grow line promoted the idea of a healthy lifestyle with the element of cannabis thrown in. The show was notable for its inclusivity with models of different sizes and ages. Yes, a model with grey hair came strutting down the catwalk. No ageism was allowed at this show.
“While the intersection of fashion and cannabis industries may not seem obvious at first, the collaboration was created to amplify the message of Women Grow – Empowerment, Inspiration, and Education,” states Chanda Macias, CEO of Women Grow. “Through Korto’s innovative and elegant collection, our goal is to break through the stigma of cannabis culture and bring to light the health benefits of the plant, and the value of women leaders in the industry.” Macias noted that Women Grow’s mission is not to cultivate cannabis but to intentionally cultivate female leadership within the cannabis industry as well.
As the beauty industry has embraced CBD with seemingly every product now claiming some sort of Cannabidiol inclusion, fashion has been slow to join in. Hemp was used for textiles for hundreds of years, but its characteristics of strength make it a difficult and expensive product to process for clothing. However, as more apparel manufacturers begin to work with hemp once again, the processing should begin to improve and become less costly.
“Women Grow has a great handle on an industry that is about to truly explode – and this offers a HUGE opportunity for women to make their mark. They’re all about empowering women, and that’s what resonated with me most,” commented designer, Korto Momolu. “We’re looking to normalize cannabis – we’re showing vapes on the runway and an assortment of hemp-based fabrics.”
Korto Momolu auditioned for, and earned a spot on the 5th season of Bravo TV’s hit show, Project Runway – earning her the prize of “fan favorite.” She was highlighted in the ‘Top 5 Designers to Watch’ at her debut season at New York fashion week SS09.
HollyWeed North Cannabis Inc. signed a letter of intent on September 10, 2018, to acquire Women Grow, LLC for an undisclosed amount. Women Grow was founded in 2014 in Denver, CO and provides connections, education, and empowerment for aspiring and current cannabis entrepreneurs and business executives.
Renee Gagnon, Founder, and CEO of HollyWeed North said, “For almost four years, it has been my pleasure to share in the phenomenon that is Women Grow. Women are the cornerstone of the cannabis industry and it is HollyWeed North’s goal to ensure that women succeed and thrive in this exciting emerging industry.”
Women Grow has had over 50,000 individuals across the U.S and Canada attend its monthly Signature Networking Events and annual Leadership Summit, with an overall reach of over a half of million followers. Currently, Women Grow operates in seventeen (17) markets and continues to expand.
HollyWeed North is a private Canadian company incorporated in British Columbia and it was established in 2016, with operating subsidiaries specializing in the growth, manufacturing, licensing and production of cannabis and other pharma grade products. HollyWeed North’s subsidiaries include HollyWeed Manufacturing and Extracts Inc., a federally dealers’ licensed company incorporated in British Columbia specializing in cannabis extraction and product manufacturing.
HollyWeed has several subsidiaries including HollyWeed Grow Inc., a late-stage federal ACMPR Applicant, also a private company incorporated in British Columbia specializing in the growth of medical cannabis and cannabis products, HollyWeed Retail Inc., a retail strategies provider and supply chain management company incorporated in British Columbia, Hollyweed Bakery Inc., a developer and manufacturer of unique cannabis baked goods and edibles incorporated in British Columbia, and Terracube International Inc., a manufacturer and developer of proprietary scalable, sanitary grow facilities incorporated in British Columbia.
“This is an amazing opportunity for Women Grow and its community. We are pleased to enter into this next phase with HollyWeed North and Renee Gagnon, a highly respected and notable business leader in the cannabis industry. We have enjoyed a long relationship with Renee and look forward to exploring potential expansion opportunities,” said Kristina Garcia, CEO of Women Grow.
Chairwoman of Women Grow’s Board of Managers, Dr. Chanda Macias, said, “This is a monumental and thrilling time for Women Grow. Renee Gagnon has been an integral part of Woman Grow from the beginning. She understands and supports our community.”
Part 1 of 8 2018 Cannabis Trends: Female leadership on the rise.
They say the future is female, and there are few places where that is more apparent than in the cannabis industry. Once thought of as a male-dominated industry, women have quickly claimed their place as leaders in this burgeoning industry.
According to Marijuana Business Daily, women make up approximately 27% of C-Suite level positions in the cannabis industry, which doesn’t sound like much until you realize that the national average is only 23%. What is unsettling, is that in 2015 women held 36% of executive control. That is almost a 10% loss of leadership positioning in less than 3 years.
As the market matures, and continues to begin attracting more institutional capital, female entrepreneurs will have to work at keeping the industry a level playing field. And collectively, that is what the trends reveal that they are doing.
For women in cannabis, it has become a badge of honor to know that within their new burgeoning industry ready to take the globe by storm, they hold the largest percentage of ownership, management and control of any industry in the world for their gender. Therefore upon recognition of the possibility of losing that title, the women have begun to band together and work toward the goal of making cannabis the first industry in the world to achieve 50% female control.
When you drill down into specific segments of the cannabis industry, you start to see even more women in leadership positions.
For example, among cannabis dispensaries, women make up approximately 35% C-Suite level positions. That number rises even higher for ancillary cannabis brands, of which women comprise approximately 42% of executive level positions. Canadian medical cannabis company Tilray has the first female majority board of directors in the industry.
But the board room is not the only place in the cannabis industry where women are shining. Over the last few years, there has been a groundswell in the number of cannabis industry organizations made for and by women.
Perhaps the most well-known industry group for women in the cannabis industry is Women Grow. Founded in 2014 by cannabis personality Jane West, the group’s original goal was to help make the cannabis industry the first women-led billion dollar industry.
When initially launched,Women Grow was massively successful and soon dozens of chapters began sprouting up all across the country. But in recent years the organization has run into trouble; chapters have been closing and key leaders have left. Women Grow is currently in a transitional period. Hopes for a healthy, strong future have become possible for the organization with a new leadership team in place. However, the obstacles that Women Grow have faced has not stopped others from stepping in and helping to fill the void.
There are credible organizations that were created to help women in the cannabis industry in a general capacity, such asEllementa, andIndustry Power Women (IPW), that specifically bridge the gap between female entrepreneurs and the resources they require to succeed in business. Other organizations have been created to specifically help women of color, likeSupernova Women andWomen Abuv Ground.
In addition, women have come together and organized their efforts, creating groups that promote support, collaboration and solidarity. These networks are being forged through platforms like Facebook. The most popular one,Women Entrepreneurs in Cannabis, spearheaded byKadin Academy and the creator ofCannabiz Connection, provides an exclusive environment for industry-specific discussions. Members of the network are approved for inclusion based on a set of criteria intended to keep the group focused and beneficial to women in cannabis business.
Conferences and events geared specifically towards connecting and advancing a sense of camaraderie among women in the cannabis industry have increased significantly since the beginning of 2018. Workshops such as those conducted by theCannabis Women’s Empowerment Society are frequently conducted to help women navigate operation of all aspects in running a cannabis business.
On the consumer side of the cannabis industry, women are also starting to take center stage. One survey by theCannabis Consumers Coalition found that 53% of respondents were women, compared to 42% for men. Although the survey did not provide a complete snapshot of cannabis, it nonetheless underscores the growing importance of women as cannabis consumers.
Not only are there a growing number of women-oriented cannabis brands, there’s also a huge uptick in the number of investment opportunities for women. Since its founding in 2011,Pipeline Angels has helped more than 50 female-owned companies raise more than $5 million. Other services, likeEllevest, help provide the tools and assistance for women to become the investors themselves.
Recognizing the increased power of women investors, some sites have even taken to aggregating women-centered investing resources; such as37 Angels andCrunchbase.
According toForbes, fewer than 6% of decision-makers at venture capital firms in the United States are women. In 2016, while male entrepreneurs received more than $58 billion in funding, female entrepreneurs received 1.46 billion, approximately 2.5% of what men received.
In the short-term, expect to see women take charge and become drivers in the cannabis industry. This is a trend that you can see in almost every aspect of the economy, but its presence is felt most in the cannabis space where there are fewer entrenched interests than in other industries. The long-term projection for women in the cannabis industry is more or less the same as the short term. Women will continue to grow their power and influence in the cannabis industry and will most likely achieve greater equality than in other sectors of the economy.
The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis