Cannabis Investing in a Coronavirus World
60 days ago, cannabis investors were excited about 2020. More states and countries legalized, supply chains were ready, and customer demand was growing – the investment opportunity was obvious.
Then COVID -19 hit, and investors got spooked, turning the taps off.
Covid-19 will not last forever. And the cannabis opportunity did not disappear. Now is the time to invest, to ensure that when the world comes out of this challenging period, the industry can surge ahead rather than play catch up. We need to ensure we do not lose the fantastic momentum this industry has built over the past 5 years.
I write this from a personal perspective.
I have spent 5 years building our amazing global cannabis events platform, CannaTech. We held events around the world, from Tel Aviv, London, Sydney, Panama, Hong Kong, Cape Town, Miami to New York – focusing on the global emerging cannabis markets and driving deal-making for sponsors and attendees. We have been told by attendees that CannaTech was worth every cent. We created business opportunities unparalleled anywhere else, and CannaTech and the cannabis industry thrived on the results. From that ecosystem, we cultivated exciting opportunities and hand-picked a portfolio of new technologies and companies prepared to address future innovations and drive this ecosystem further.
Today, CannaTech events like all events have been paused, while the world curbs the spread of the virus. Our main concern is the health and safety of our community and we are watching developments closely. But CannaTech will be back – as soon as international travel is restored, and by then, businesses will be starving for growth.
To stop investing in cannabis opportunities now is short-sighted, and detrimental to this critical industry. Patients need us. Consumers need us. We cannot let the brands and companies who worked so hard for the past 5 years, and who desperately need cash to survive a temporary downturn, to die. As industry leaders, investors, entrepreneurs, consumers – its time to step up and ensure the continuity of our mission – to ensure quality cannabis accessibility for all.
iCAN and CannaTech have been building the global cannabis ecosystem since 2015. I want us to look back 5 years from now and be proud of how we acted at this time. The demand for cannabis has not changed, and it will continue to grow. Let’s act now for the future of our industry, our patients, our consumers and our mission.