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Tuesday, June 18, 2013

Entrepreneurs Look to Marijuana Industry

Day 46 - West Midlands Police - Cannabis Drugs...
Marijuana in the United States is big business both on the legal and illegal side of the matter. Every year billions of dollars are generated as a result of medical marijuana and now in Washington and Colorado, where marijuana has become legalized, a number of people are getting involved in the green gold rush.

A group of entrepreneurs, in the ArcView Investor Network, organized a conference with 18 start-up companies providing services to the marijuana industry, according to The New York Times.

Dynamiq Lightning, sells products for indoor marijuana cultivation, where the majority of high grade marijuana stems from. Others provide security, lighting, and storage for the growing industry. Although, none of the new companies grow or sell marijuana, according to the article.

Marijuana is still illegal under federal law, which is why the marijuana industry still faces challenges. Much of the problem has to do with image. Many states still consider medical marijuana illegal.

Daniel Williams, President of Canna Security America, a Denver-based security solutions company for the medical marijuana industry, told the newspaper, “I believe once we hit the 25-state mark, that will be the tipping point of federal legalization.” But he believes that “the cannabis industry is growing so quickly, there’s no stopping it.”
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