Founder Rashaan Everett has launched Growing Talent, a social equity incubator dedicated to training those affected by the war on drugs to run a successful cannabis business.
Growing Talent aims to educate people of color about the cannabis industry through a curriculum that emphasizes applying for a medical and adult-use license, federal and state laws, policy, horticulture, business development, and financial literacy.
The Los-Angeles-based incubator is working in partnership with cannabis compliance software developer, Simplifya, and plans to train participants on the platform.
Participants who complete the program can receive investment capital and financing from Good Tree, a luxury cannabis delivery service, and Good Tree Capital. The money will used to launch a Good Tree franchise.
“Risk mitigation has been our focal point. We’re clearing the hurdles that social equity applicants face when they’re looking to raise capital to launch their businesses,” Everett told financial news site Benzinga.
According to the company, Incubator applicants will also receive rent-free property to operate their dispensaries for three years and access to proprietary software for logistics, employee payroll, and management.
“The idea is for us to give minorities cash, a curated brand and in-house technology so that they can take advantage of social equity licenses,” Everett said.
Social equity licenses are being launched in cities like Oakland to give communities disproportionately affected by marijuana-related arrests to have an opportunity in the cannabis industry.
This piece originally published on January 4, 2019.