Startups win, large companies fail in marijuana equipment race

Uncertainty concerning marijuana's legal status all over the United States has resulted in a delightfully hodge podge industry where entrepreneurs and innovators rule. There are none of the big brand pharmaceutical companies and name brand manufacturers. Research universities are not active due to absence of federal funding. The small cannabis businesses, nicknamed “cannabusinesses” are making money in a field where marijuana's uncertain status means no bank or government approved finance body will provide credit. Businesses will have to fund everything by themselves. Since the trade needs a high level of education, and the springiness of youth, most of the cannabis startups are owned by people who have am innovative and fresh mind.

Entrepreneurship at its finest

One prime example of such out-of-the-box entrepreneurship is Leaf, a Geeley, Colorado headquartered company. The startup manufactures and sells a marijuana growing “refrigerator”. The WiFi enabled cabinet comes with a webcam so that its owner can see and tend to the plant from any location. From the time of its introduction in the beginning of 2017, the company has already sold 1,000 cabinets.

Leaf is not a one off case and not all marijuana innovations are restricted to Colorado. Convectium, a startup in California has built seven different models of a machine which fills cannabis cartridges. The most expensive model comes with touch-screen displays. Each machine sets the customer back by $16,000. In a remarkable feat of reverse re-engineering, the Danny Davis owned Orange Country company have been dismembering vaporizer technology perfected by the Chinese and adapting them for use in marijuana. It is to be noted that Davis himself was a venture capitalist.

Social media and apps

Denver, Colorado's most famous city, has an industry of its own. MassRoots is a social media platform based on everything marijuana. It recently celebrated one million registered users. It was earlier banned from Google Play store in November before it was allowed back in March, 2017. Actions against marijuana are not limited to Android Play Store. Apple kicked out MassRoots from App Store in 2014. It was ultimately allowed in after a number of forced changes. The company will now must review every post made by its customers. Isaac Dietrich, the CEO of the company, said that this is the nature of challenges faced by the marijuana business. He said that the marijuana industry faces challenges unique to the profession.

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