A veteran entrepreneur has launched a Denver facility, Good Life Colorado, that will focus on helping young and established cannabis-infused products companies expand.
Housed in a 1,500-square-foot space, Good Life will offer companies space to develop their products and mentoring to guide them forward.
“We decided to create a place for cannabis entrepreneurs who have fantastic ideas and solid budgets, but lack the resources for a (marijuana-infused products) license and warehouse,” Patrick O’Malley, the Boulder businessman who founded Good Life, said in a new release. O’Malley also runs a test prep company.
Besides start-ups, O’Malley said Good Life is interested in working with established companies in other states who want to expand into Colorado. Good Life will accept several applicants into the accelerator program in 2016, with more in 2017.
O’Malley said to do it all themselves, marijuana-infused products businesses need at least $750,000 just to start product experimentation. He added that by partnering with Good Life, “entrepreneurs need far less.”
Good Life already has had at least one client that has gone through its facility, Chooze Corp., which developed a line of terpene-infused pucks for use in a dry-herb vaporizer.