From Pot to Popular

The cannabis industry has experienced astounding growth over the past several years, but has done so with both hands tied behind its back. Cannabis operators are still barred from accessing institutional capital, thanks to the plant’s federally illegal status. Fortunately, there are a number of lenders navigating around these challenges and connecting cannabis businesses to the capital they need to thrive. In this episode, George Mancheril, CEO of Bespoke Financial, discusses his company’s mission to leverage fintech expertise to provide non-dilutive financing options to companies across the supply chain. He explains how Bespoke operates as a bridge between capital and cannabis, illuminating the challenges faced in cannabis financing and predicting the role that financial institutions will play when cannabis is finally legalized.

Taking your cannabis dreams from idea to reality takes many more steps than entrepreneurs realize, starting with an often complicated licensing process. In this highly regulated industry, the guidance of a cannabis-focused lawyer can make all the difference. In this episode, Dina Rollman, SVP of Government and Regulatory Affairs at Green Thumb Industries, discusses the critical role she played in building up cannabis in the Midwest through litigation and fostering diversity in the space. She explains that rising operators need to apply for licensing with their vision and story in mind, and that barriers like money and access often hinder the success of social equity applicants. Dina also emphasizes the importance of lifting up others through programs like Illinois Women in Cannabis and LEAP at GTI, which work with aspiring cannabis professionals to help them break into the industry in a variety of ways.

The cannabis industry is nothing without its cultivators. With increasing demand around the country, it is more essential than ever to optimize cultivation operations and provide top-tier expansion capabilities. In this episode, Sam Andras, executive vice president of professional services at urban-gro, discusses how urban-gro sets itself apart in the Controlled Environment Agriculture (CEA) sector. Providing a spectrum of CEA offerings including facility design, engineering, integrated cultivation systems and more, urban-gro is a leader in cannabis cultivation support. Sam explains the importance of building a knowledgeable, experienced team in an evolving industry as well as the necessity of services like urban-gro in allowing cannabis cultivators to be flexible in their designs and collaborate with the client to bring their cultivation goals to fruition.

As the cannabis industry matures and more states come online for recreational sales, it is more essential than ever that leaders from around the country collaborate, network and share solutions for cannabis pain points. Like traditional CPG industries, trade shows are an effective and essential avenue to bring together the leaders of the cannabis industry and discuss the issues of today. In this episode, Kim Jage, co-founder of Jage Media, the creators of the MJ Unpacked trade show, discusses how their unique event pushes cannabis into the future. She explains the cannabis industry’s need for collaboration amongst top industry executives, facilitated by events like MJ Unpacked that foster meaningful conversation and solution-oriented innovation. Kim also talks about their upcoming New York City event and the topical issues that will be discussed, including brand-building via licensing, how CPG and retail brands translate coast to coast and what restorative justice in cannabis looks like.

Women make up a significant consumer demographic in cannabis, yet remain underrepresented in both positions of leadership and product selection on dispensary shelves. Female entrepreneurs in cannabis are essential to pave the way for future leaders and create products designed specifically for women. This episode features Olivia Alexander, CEO of Kush Queen, a female-focused luxury cannabis brand. Olivia shares her journey from budtender to CEO and explains the importance of women breaking barriers in the male-dominated industry. She talks about the ways in which cannabis can benefit women specifically, how small companies drive cannabis innovation and how business can meet the rising demand for ethical cannabis business and consumption.

Raising capital in an industry that is federally illegal is no easy feat. Fortunately, commercial real estate lenders have allowed the industry to grow and thrive by providing reliable fundraising alternatives to cannabis ventures unable to access institutional capital. This episode features Travis Goad, managing partner at Pelorus Equity Group, the longest-running commercial real estate lender in the cannabis sector. Travis discusses the company’s unique approach to funding cannabis businesses as well as the opportunities for real estate within the industry. He also underscores the importance of identifying your company’s niche and excelling in that area to entice investors and facilitate mergers.

Like cannabis, the stigmas around intimate health—especially for those with vaginas—often keep consumers from purchasing products that would improve their daily lives. At the intersection of these two sectors, brands like Quim work to break down barriers and develop products that leverage plant-based wellness to address the sexual health issues faced by many. In this episode, Cyo Nystrom, co-founder and CEO of Quim, talks about her journey from making homemade topical products to scaling a successful cannabis-based sexual health brand. She explains her strategy for messaging and raising capital while highlighting the importance of empowering consumers to take control of their own personal health.

How does an Oregon edibles brand become one of the leading brands in the United States? In this episode, Ben Gaines, director of marketing at WYLD, discusses how the brand grew their simple concept of a quality cannabis gummy to a coveted national brand. He outlines the essential company qualities that bring a vision to reality, including responsiveness, passion, integrity and commitment to consumer engagement. He also explains WYLD’s dedication to social impact and clear steps to make a difference in social equity and sustainability in the cannabis industry while sharing his priorities in authentically marketing a top-tier brand.

When it comes to product innovation in cannabis, it is essential to keep science at the forefront to ensure quality and consistent experiences. Considering how numerous patients and consumers use cannabis in their daily routines, it is vital to fully leverage existing cannabinoid research and the expertise of cannabis scientists during the R&D process. In this episode, Ari Mackler, chief product officer at PLUS Products, discusses how his expansive background in science, academia and medicine prepared him to bring evidence-based approaches to cannabis product innovation. He explains how PLUS uses science to define its products and emphasizes the need for further clinical research to enhance the industry’s scientific understanding of cannabis.

While many industries have been grappling with the “Great Resignation,” employees around the country are clamoring for cannabis employment in all sectors. With this influx of interest comes a need for state-of-the-art human resources and human capital management to support cannabis operators and their employees. In this episode, Scott Kenyon, CEO of Wurk, shares key insights as the leader of the largest payroll and HCM software provider in cannabis. He shares how cannabis business human resources needs have evolved while advising companies on maintaining engaging, supportive company culture.