Marijuana Investment Conferences (MIC) is an opportunity for investors to meet entrepreneurs and early-stage companies that are looking for funding to establish or scale their legal marijuana businesses.
Is MIC looking to legalize marijuana in Texas? No. We are not looking to become politically active in lobbying to legalize the purchase or sale of marijuana or related products whether it be on a local, state or federal level. We are the financial side of the already legal marijuana trade in the United States trying to bring investors and businesses — both current and future — together.
What is your position on the legalization of cannabis in Texas? We are in favor of legalization of medical and recreational marijuana throughout the entire country. But our conference is about the financial and investment aspect, not the legislative or policy aspect.
What kind of companies do you expect to be at MIC? We expect to see marijuana growers and retailers as well as a wide variety of industry support companies – whatever companies are needed to run a legalized marijuana-based business. This includes accounting services, advertising and marketing, banking and payment processing, consultants, hydroponic and cultivation production, infused products and edibles providers, insurance, packaging, paraphernalia, private equity and investment resources, training, security systems, software, point-of-sale system and testing and lab services — whatever companies that will be involved in the growing, harvesting and selling of legalized marijuana.
What kind of investors do you expect to be at MIC? We think most of the investors will be individual angel investors. We received interest from venture capital and private equity funds, single family offices (SFO) and other financial intermediaries.
What kind of vendors do you think will attend MIC? We are talking to several financial intermediaries about attending or sponsoring. While we don’t expect vendors of operations-related products and services to be exhibitors, these firms might attend in an entrepreneurial role seeking investment or additional investment. That said, this is a rapidly evolving industry and a lot could happen between now and September.
Will any vendors be selling marijuana at MIC? No. Since marijuana is not legal to possess or sell in Texas, no contraband or related marijuana paraphernalia will be allowed at MIC.
What will the MIC format be? Currently, this is a work in progress, but we anticipate a day of breakout sessions with different companies pitching their ideas and businesses to investor attendees as well as investors telling entrepreneurs what they look for in an investment. We hope to include various marijuana-focused funds who can speak about their investment criteria and target metrics. This is a meeting of minds that will be beneficial to both investors and businesses alike.
What subjects will be discussed at MIC? Since the legalized marijuana is such a new industry, these sessions are geared to teach the entrepreneurs what investors are looking for and what they expect. Depending upon our responses and accepted invitations, we may expand this portion of the Conference to include entrepreneur workshops to help future business owners with setting up corporate structures and exit planning.
How big is the legal marijuana industry now and how much growth is anticipated over the next few years? The Huffington Post recently predicted that the marijuana industry from 2013 to 2014 is poised to grow faster than smart phones with $1.43 billion worth of legal marijuana sold in 2013 and projecting that figure to grow by 64 percent, to $2.34 billion next year. Compared to smart phones which expanded by 46 percent from 2012 to 2013. Further, the article quotes Steve Berg, a former managing director of Wells Fargo Bank and editor of the second edition of the State of Legal Marijuana Markets report who said, “Cannabis is one of the fastest-growing industries. Domestically, we weren’t able to find any market that is growing as quickly.” We think that now is the best time to be in the legalized marijuana business – both as an entrepreneur and as an investor.Given the above points, it can be theorized that the marijuana industry is going to thrive for a longer period in the times to come once it is legalized fully and is a good source of medicinal treatment for both humans and animals for body issues that might be good news for cat lovers as CBD Öl für Katzen im Test is a popular way to test it on cats without doing any damage.