San Francisco, CA (PRWEB) January 28, 2015
The year 2014 was a big one for the cannabis industry due mainly to the outcome of the November elections, but 2015 appears to be an even bigger one. GreenRushReview.com, a cannabis industry news website at http://www.greenrushreview.com, reports on the top three cannabis developments to watch out for in 2015: Budding new markets, Republican control, and business accelerators.
New Markets
Massachusetts, Illinois, and Nevada are among the three states worth watching, as they are all expected to open medical marijuana dispensaries sometime this year – each one expected to generate significant revenue. There are, of course, numerous hurdles and setbacks to be encountered.
At present, Massachusetts has 15 dispensary licenses but the state has been criticized for their dispensary delays and the manner in which it handled licensing due to conflicts of interests. Dispensaries are expected to start early this year, although potential political setbacks are expected.
In Illinois, reports share stories of entrepreneurs that are on edge, and that continue to complain about the amount of time it has taken for legislators to plan out the industry regulations. It is still uncertain when the state will name the companies to receive the allowable 60 dispensary permits and 21 cultivation licenses. Winners were supposed to be named at the end of 2014, but officials are still screening applicants.
The medicinal cannabis industry in Nevada is expected to give tourists another reason to visit Sin City due to a reciprocity law that allows tourist with MMJ cards to acquire medical marijuana when visiting the state. Patients from anywhere in the country, therefore, can be served. The state recently granted 55 dispensary licenses, plus over 300 various types of permits for cannabis businesses. Of course, lawsuits and controversies over licensing still exist, which could possibly delay the opening of a number of businesses.
Republican Control
When voters in Alaska, Oregon, and Washington DC approved recreational marijuana in November, they also voted in enough Republican candidates to have the GOP control both the Senate and the House.
Republicans now in control may possibly affect how the industry moves forward, as it is widely known that the views of conservatives are less friendly compared to their liberal counterparts. An article in Brookings, however, points out that unlike most issues – marijuana policy does not fall neatly along party lines. Some Democrats and Republicans support it, while other Democrats and Republicans oppose it. For now, businesses will simply have to wait and see how Republicans response to cannabis at the federal level.
The Rise of Business Accelerators
Business accelerators, considered key components in industries such as agriculture and technology, help create the needed infrastructure for budding entrepreneurs and business to thrive. Accelerators offer multiple forms of support, such as mentoring, investment, and networking. These services are crucial to the development of the marijuana industry, and are particularly practical for startup companies that lack a business plan, capital, or even a basic understanding of the business.
Investor network ArcView Group, partnered with Colorado’s CanopyBoulder, is offering a 12-week accelerator program for businesses in the cannabis industry. According to a BizWest article, twenty companies will be selected for aid in 2015, and will be given $ 20,000 in seed capital and numerous support services. Mentoring will be provided in exchange for ArcView’s and CanopyBoulder’s 9.5 percent equity stake in each company that participates.
GreenRushReview.com strives to be a convenient and reliable online resource for all marijuana consumers, entrepreneurs, and investors. The website aims to provide the general public with extensive coverage on industry news, and opinions on the multi-billion marijuana industry and culture in North America, including news on industry stocks, prices, implications, trend developments, investment opportunities, business opportunities, and legislation. The site also hosts press releases that are pertinent to the industry, video and a large industry directory.
The coining of the term “Green Rush” refers to the swift surge of activity brought about by the legalization of medical marijuana in over 23 states, and the acceptance of comprehensive cannabis and medical marijuana programs.
GreenRushReview.com is a cannabis news site that continually strives to deliver the latest and most relevant news on the marijuana industry in North America.
GreeRushReview.com is part of a portfolio of cannabis industry sites which includes http://www.bestmedicalmarijuanastocks.com (top medical marijuana company news), http://www.marijuanastocksreport.com (cannabis small cap stock news) & http://www.marijuanastock.net (financial cannabis company news).
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