TORONTO, Aug. 21, 2018 /CNW/ – Leaf Forward, Canada’s first and leading cannabis business accelerator, is pleased to announce it is now accepting applications to its Toronto based, 12-week accelerator program for early stage cannabis companies. Successful applicants will receive a $35,000 cash investment and $15,000 worth of programming and services. The first cohort will fund 4-6 companies and will be offered up to three times annually.
During each 12-week accelerator cohort, a small group of carefully selected cannabis startups work closely with the Leaf Forward team, industry leaders, and subject matter experts to develop their products, grow their businesses, and prepare to raise their next round of funding.
Alex Blumenstein, CEO of Leaf Forward
Mr. Shalhoub will sit on the Investment Committee of the Leaf Forward Accelerator Fund, along with other industry leaders, Aaron Salz (CEO, Stoic Advisory), John Prentice (CEO, Ample Organics), and Neha Khera (Partner, 500 Startups). The investment committee will advise Leaf Forward management on investment decisions and accelerator programming.
Investments will be made from the Leaf Forward Accelerator Fund (“Accelerator Fund”), which received a $500,000 lead investment from Green Acre Capital, the leading Canadian cannabis venture fund.
Leaf Forward has supported 50 entrepreneurs over the past year, our 12-week program equips cannabis startups with the tools, connections, and knowledge they need to succeed. With Leaf Forward’s inaugural Accelerator Fund we can now provide early stage companies with capital, in addition to our leading programing and outstanding mentor network.
For a myriad of reasons, to date no minority-owned businesses supported by the $1.2 million GTI allocated for its LEAP New Business Accelerator and the $1.5 million allocated through its Social Equity and Development Initiative (S.E.E.D.) program have obtained a commercial license to sell or cultivate cannabis.
The two largest cannabis companies in the Midwest, Green Thumb Industries (GTI) and Cresco Labs, also invest in corporate social responsibility programs. Specifically, each allocated more than a million dollars to support minority-owned cannabis companies in Illinois. However, much of those Illinois investments are legally required since GTI and Cresco own medical licenses that gave the companies a year’s head start in the state’s $1 billion market.
Cultivation Tour Series: Missouri’s C4
They are not alone. Since the state’s social equity-infused recreational laws were passed more than 18 months ago, no minority-owned cannabis business has obtained an Illinois license. Currently, 75 dispensary licenses and 40 craft grow licenses are held up due to a series of lawsuits against the state.
While The Parent Company for now is focused on backing California businesses, its Chief Mergers and Acquisitions Officer Drew Kornreich in 2010 co-founded Chicago-based “open source” financial services company HighTower Securities.
Subversive Capital Acquisition Corporation, a New York-based cannabis investor, plans to close a transaction tomorrow that will rename and provide funding to California’s largest cannabis company.
A collection of rare and special genetics made by those with a passion for preserving the finest and a commitment to only share thoroughly proven and tested varieties.
With a fantastic collection of regular mothers and fathers from near and distant locations we present our Accelerator Line.
From Pure Sativas to Heavy Hitting Indicas and some lovely hybrid crosses inbetween.
‘Stick with Accelerator and you will see , smell and taste the difference.’