Entrepreneurs in the legal marijuana industry have many difficulties and concerns – finding a bank, credit card processor, landlord – uncommon for typical entrepreneurs. Even the startups that don’t physically touch marijuana are faced with these obstacles because of federal anti-marijuana laws. But these unique obstacles are producing unique incubators that cater specifically to marijuana industry entrepreneurs.
Incubators like Denver-based Green Labs Denver, a nearly 40-desk incubator and co-working office space for marijuana businesses, is helping entrepreneurs to overcome and adapt to industry challenges. A few of Green Labs’s current entrepreneurs are focusing on marijuana apps, tourism, and retail products.
“We’re all facing the same legislative hurdles,” said Green Labs’s co-founder.
Along with providing free office space, business services and guidance for entrepreneurs, Green Labs sometimes makes equity investments of $30,000 to $250,000 for startups with high potential.