CanopyBoulder is a mentorship-driven seed-stage investment program for startups in the cannabis industry, with a focus on ancillary products and services.
We are now accepting applications through June 2nd for our fall class. The fall program kicks off on August 31st, in which companies will embark on a 13 week journey to jumpstart their business in the rapidly growing cannabis industry. Startups will receive $20K in seed capital and diverse, first-hand experience through company visits, mentor talks, 1-on-1 advisory sessions, public speaking critiques, pitch practice, and peer-to-peer experiential learning. All culminating in a DemoDay where investors and industry will be gathered to hear your pitch.
So how do you get into CanopyBoulder?
Here are some tips from the folks who review your application:
1. Get a co-founder
Starting a business requires a diverse, complementary range of skill sets in order to successfully execute, iterate, and grow your business. At some point, a founder will realize that he or she can’t do it all -- so it’s imperative to get the right team on board. One that complements your skills and reflects your vision and morals as a founder. It also shows that you can sell your idea to someone, so if you can’t convince someone to join you, perhaps your idea needs refinement.
- Pro-tip: Some say two’s company and three’s a crowd. Co-founder disputes are one of the top reasons startups fail, so choose wisely.
2. Bring real data
Data = validation. A business idea is just that, an idea. Proof that you’re presenting a solution to a real problem is an idea with “data” legs. Going to market and getting the right data demonstrates that there is a problem to be solved, thus validating your idea. So get out into your market and talk to customers, vendors, and industry thought leaders about your ideas. Consider running a survey through Google Forms or SurveyMonkey.
3. Get your application submitted early
Like a job search or college application, your application of well thought-out ideas sits in a pile with several others vying for the same spot. How do you stick out when sheer quantity is a factor for the review committee? Get your application done early. The reviewers are more likely to notice you, remember you, and spend more time examining your application, the earlier it is submitted.
Let’s recap: We’re looking to kickstart 10 ancillary cannabis businesses that don’t touch the plant.
June 2nd deadline. August 31st program start. Get a co-founder, bring data, be early.
Happy applying! http://www.canopyboulder.com/apply/