Business Updates – November 2024

Business Updates – November 2024
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BIPOCann’s Business Updates: originally published via newsletter on Nov 4, 2024.

🌱 Event Recap: The Tipping Point

In October, we traveled to Austin, TX, for the Tipping Point, where industry leaders, startup founders, and investors came together to network and discuss the future of cannabis. Panel conversations focused on securing capital, regulatory challenges, and uncovering new opportunities in Texas and the national marketplace.

Several BIPOCann members attended the event, including social equity mentorship accelerator graduate, Tiana Woodruff, who exhibited and delivered an investor pitch on stage to promote Queen Mary, her multi-state brand.

🛠️ Applications for Denver’s Social Equity Technical Assistance Program
Denver Economic Development & Opportunity is continuing the Denver Cannabis Social Equity Technical Assistance Program to address the unique challenges faced by cannabis businesses. This program, managed by iComply Cannabis, focuses on assisting businesses in establishing a physical location by providing long-term support through essential resources, expert knowledge, and tailored assistance. Applications open November 6 and close December 31.

    🎤 Speaking Engagement: MJBizCon
    We’re excited to have a speaking presence this year at MJBizCon! BIPOCann’s founder, Ernest Toney, will be speaking on Wednesday, December 4 at the Las Vegas Convention Center in the panel titled, Building a Thriving Cannabis Community.

    BIPOCann will also have presence at the Achieving Equity in Cannabis event as a partner organization to MJBizCon’s social equity scholarship program.

    We hope to see you in Vegas in 30 days! If you still need to purchase a ticket, use our partner promo code for an additional 10% off: MIPMBIPOC10

    📚 Business Development Tips
    Check out these new posts with tips for growing and funding your cannabis business:

      • What a Cannabis Business Needs to Acquire Funding | Read here
      • How to Pitch Your Cannabis Business | Read here

    🚀 Accelerate Your Business
    Ready to enhance your business while making a positive impact in the cannabis industry? Give membership a try, and we’ll work with you to achieve your goals. I’m ready to join

      Fall 2024 Update

      Fall 2024 Update
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      Founder’s Letter: Fall Update – published via newsletter Sep. 27, 2024.

      Hi friends,

      As we begin the final quarter of the year, I want to take a moment to reconnect and update you on some of the positive strides BIPOCann has made this year.

      This summer marked our fourth anniversary of business, and we continue to push forward with our core mission of working to increase visibility, representation, and equitable access to economic opportunities in the cannabis industry.

      What We’ve Been Up To:

      • Mentorship program expansion: Our enhanced 15-week program connected social equity entrepreneurs with experienced industry leaders, offered a curriculum of digital and in-person business development modules, and provided opportunities for participants to network and apply their insights.

        Team member, Nett Jackson, created this 4-minute video from our Vendor Diversity showcase — an event that celebrated social equity successes and gave participants a platform to promote their emerging brands. Check it out!

      • Advising national regulators: We contributed to shaping the national conversation on cannabis at the CANNRA (Cannabis Regulators Association) External Stakeholders Meeting by sharing insights and best practices with regulators, specifically around the lifecycle of social equity businesses and what they need to thrive.
      • New partnerships: In addition to our existing relationships, we’ve developed new partnerships focused on breaking down financial barriers and connecting cannabis entrepreneurs to investors.

        We’re also excited to contribute to a new program through a partnership with Denver’s Economic Development Office and iComply, that focuses on licensing, building code, and construction technical assistance for social equity cannabis businesses in Denver. 

      • Advocacy: We’ve been meeting with state legislators and officials in Colorado to advocate for ongoing funding and support of social equity programs. Our goal is to ensure that these efforts remain sustainable and effective beyond 2024.
      • Enhanced services: We’ve also refined our technology solutions and advisory services to improve responsiveness and expand our capacity to meet the growing needs of our members.

      Looking Ahead

      As we close out the year, BIPOCann will be connected to some key events that we hope you can attend. Visit our events page for registration details and partner codes to access discounted tickets (where applicable):

      • Oct. 7: Navigating Social Equity: Policy & Legal Considerations (webinar)
      • Oct. 9-10 Benzinga’s Cannabis Capital Conference (Chicago)
      • Oct. 16-17: The Tipping Point (Austin)
      • Oct. 22: Green Equity: A Cannabis Leadership Forum (Minneapolis)
      • Dec. 3-6: MJBizCon (Las Vegas)

      Need Help Improving Your Business?

      If you’re looking for business development resources, mentorship, or community, give our membership network a chance to help you. It includes access to BIPOCann Online, our digital subscription-based community and resource center for students (new), professionals, and entrepreneurs.

      Thank you for your continued support.

      Best regards,

      Ernest Toney

      Founder, BIPOCann

      BIPOCann Partners with State Office to Lead Mentorship Program

      BIPOCann Partners with State Office to Lead Mentorship Program

      Cannabis Social Equity Mentorship Program Launches

      Earlier this year, the Cannabis Business Office (CBO), a division of Colorado’s Office of Economic Development & International Trade (OEDIT), awarded $750,000 in funding through its Cannabis Business Grant to social equity licensed cannabis businesses that have, or are actively pursuing, a regulated business license from the state’s Marijuana Enforcement Division.

      The Cannabis Business Grant was launched as a pilot program in 2022, and it supports the ongoing growth of Colorado’s small cannabis businesses and fosters equity and diversity within the state’s cannabis industry.

      On April 17, BIPOCann launched its second Social Equity Mentorship Program in partnership with Colorado’s Cannabis Business Office (CBO).

      Throughout the spring and summer, BIPOCann will be supporting the grant recipients weekly 1:1 mentorships to support their business growth. In addition direct mentorship, the program offers an exciting curriculum that includes education, industry networking opportunities, and marketing intensives:

      • Business Foundations Webinar
      • Business Foundations Workshop
      • Brand Building & Storytelling Webinar
      • Relationship Building Networking Event
      • Supplier & Vendor Diversity Webinar
      • Media Day
      • Industry Conference Participation
      • Graduation & Networking Event

      Please contact info@bipocann.com for participation interests.

      BIPOCann Member Brands Take the Cannabis Investor Stage

      BIPOCann Member Brands Take the Cannabis Investor Stage

      Elevating BIPOC Owned Cannabis Brands

       

      On April 12, BIPOCann’s founder, Ernest Toney (far left), moderated a panel conversation titled Invest in Emerging BIPOC Owned Cannabis Brands at the Benzinga Cannabis Capital Conference in Miami, Florida.

      The panel featured three BIPOCann members: Timeka Drew, CEO of California-based Biko Flower (second from left); Jarell Wall, CEO and Creative Director of Colorado-based Gentleman Quinn’s Blunt Co. (second from right); and Carlondo Mitchell, Owner of Washington-based 5th House Farms (far right).

      Drew, Wall, and Mitchell spoke about the successes of their fast-growing brands in their respective markets, the challenges of capturing shelf space and market share, and their goals for multi-state expansion through capital raises or strategic partnerships.

      Over the past year, BIPOCann engaged with the member trio to learn insights about their brands, journeys, and goals. In recent months, BIPOCann interviewed and published long-form feature articles on each of them through its monthly spotlight series on uplifting BIPOC and underrepresented communities in the cannabis industry.  

      BIPOCann Partners with Capital Conference on Social Equity Initiatives 

      In the months leading up to the Capital Conference, BIPOCann leveraged its partnership with Benzinga to influence cannabis social equity and diversity initiatives for the conference.

      At the Miami conference, Benzinga approved four social equity scholarship panels (including this one), awarded 143 scholarships (giving social equity and women-owned businesses free access to the event), and introduced the BIPOCann Social Equity Lounge to create space for scholarship recipients and attendees to network, share ideas, and interact directly with mentors and investors. 

      The Invest in Emerging BIPOC Owned Cannabis Brands panel recording can be watched here on YouTube.