Techies notoriously love to smoke weed to relax at the end of a day full of coding so it’s only reasonable that a tech incubator has been created that will just focus on businesses who will be dealing with weed. For those outside of the startup community, an incubator is a company that helps other companies get started, with financial support, logistical support and educational support. The weed incubator is called Canopy San Diego, and they seek to invest in weed related tech companies, of which there are many. The companies could be anything from water conservation devices and monitors, as well as analytic software for marijuana related companies specifically. There is a lot of opportunity for growth in the weed industry, and they want to be at the forefront of the growth.
There will be even more growth if the state votes to allow recreational marijuana, which is on the ballot for November. As of now, the state is on track to have about $2.7 billion of marijuana related sales, which is the largest marijuana market out there, even compared to states with recreational legalization already. It’s probably because people in California are so used to smoking weed, taking edibles and using marijuana products that the business there has blossomed into such a big money maker.
Until now, the weed industry has had to live underground, which means that they haven’t been able to benefit from the same types of technological advances. However, with states like Colorado, Washington and Alaska on board, California could tip the scales and make weed the next new startup idea. Many startups are located in the state to begin with, and people who live and work in the state are typically a fan of start up culture, so it is a natural fit.