BOULDER — The ArcView Group and CanopyBoulder said Tuesday they plan to launch a business accelerator for startups entering the U.S. marijuana industry.
CanopyBoulder, headed by Patrick Rea and Mark Nottoli, was founded in July. It is a seed-stage, mentorship-driven business accelerator for companies developing ancillary products and services for the cannabis industry.
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CanopyBoulder will select 20 startups in 2015 and invest $20,000 in seed capital in each venture in return for a 9.5 percent equity stake. It will provide startups with cannabis industry advisers, and invite them to Boulder to participate in a 12-week business boot camp to jumpstart their ideas.
CanopyBoulder is partnering with California-based The ArcView Group that has a network of investors, industry leaders, entrepreneurs and marketing resources. The ArcView Investor Network includes more than 400 accredited investors who have put more than $17 million behind 34 companies in the last two years.
Rea, CanopyBoulder’s managing director, said Tuesday that the accelerator will focus on grow technology, safety products, packaging, big data and apps.