Marijuana Business Accelerator Raises $1.2 Million

It seems like marijuana investors are practically falling from the sky these days.

CanopyBoulder, a new Colorado-based business accelerator focused on helping ancillary cannabis companies, has already raised $1.2 million in funding to help startups get off the ground, according to the Boulder Daily Camera.

CanopyBoulder is holding a pair of 13-week “boot camps” this year, which include $20,000 in startup capital along with advice from seasoned industry veterans on how to succeed. The first round commences March 30, and the second starts Sept. 1.

There’s so much interest in the program that CanopyBoulder received 115 applications for the first boot camp.

The $1.2 million raised to date significantly outpaced what the company expected to raise. The additional funds will be applied toward boot camps in 2016 in both Boulder and in San Francisco.

The accelerator’s focus is on companies supporting the cannabis industry: software and technology firms, businesses that sell nutrients, and other support services, the Camera reported. Ancillary companies have long been a popular area for entrepreneurs with functional experience in another industry can be applied to the cannabis business.

3 comments on “Marijuana Business Accelerator Raises $1.2 Million
  1. Patrick Rea on

    Thank you for the coverage. I would suggest three additions to this article.

    1. We intended to raise $1.2M and we did. There was a surplus of investor interest that will likely jump start funding of CanopySF 2016 and CanopyBoulder 2016

    2. We couldn’t have raised our $1.2M without the help of The ArcView Group. They were integral in our process and are partners with us in our Canopy business ventures.

    3. We are now accepting applications for our next class scheduled to kick off August 31st in Boulder later this year.

    Thank you MJ Biz Daily!

    Patrick Rea, CEO & Managing Director, Canopy

    Reply
  2. bongstar420 on

    Stop this. Give them money after they show they already know whats up. Do not give answers to newbs. asshats!

    I won’t be interested in this unless it is a straight loan offered at exactly the same rates or better as other loans. Otherwise, I am happy to spend a few extra years building my business without some “investor” expecting a cut of the action.

    Reply
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