Investing in the cannabis industry can be a tricky area today. This is why it is advisable to have a cannabis consultant on your hands. Even if you know the industry very well the ins-and-outs of running a successful cannabis business and scaling it to its full capacity is an area that not everyone will know. Gateway Incubator is a great example as they have been advising Buddha Bakeries on how to scale their business.
Gateway Incubator has 7 applicants in which they chose from a class of 150 that they will help strengthen their business by engagement through mentors. For several years now Buddha Bakeries has been successfully running and on average generating more than a million dollars yearly in revenue with distribution reaching 75 dispensaries. Be sure to check out episode 38 of a series called Investing in Cannabis to see more about Gateway Incubator and what they do.
Gateway Incubator is based out of Oakland California and invests roughly $30,000 each year in up to 10 cannabis startup companies. The startup companies admitted to the incubator will move to Oakland for 4 months while they receive mentoring and coaching from the team of industry leader experts who work with Gateway Incubator. Startup companies in the incubator will have a chance to present their companies to a panel of investors that have been carefully selected.
Even after the program is complete, business owners of the startups that went through the incubator program at Gateway will become alumni of the program and have access to a large entrepreneurial network for continued guidance, increased knowledge exchange and ultimately further success.
Gateway Incubator is not the only program that offers services such as this, in fact, there are several more so if you have an idea for a cannabis business and have the dedication and devotion it takes to see it through to success you need to check out Gateway Incubator and other accelerator programs for startups in the cannabis industry.