Founder Institute Partners With Arcview To Launch Cannabis Ecosystem Program

The Founder Institute has teamed up with cannabis-focused investment firm The Arcview Group to create new job opportunities and boost cannabis entrepreneurs.

The partnership resulted in the launch of the virtual "Cannabis Ecosystem Program."

The initiative is poised to educate and support 30 "promising" cannabis startups worldwide, helping them build their businesses, the Founder Institute announced.

The goal is to bringing the San Francisco Bay Area to the spotlight in terms of cannabis innovation.

Both early-stage entrepreneurs and cannabis start-ups can apply for free. The deadline for applications is Feb. 28, 2021.

Besides training and mentorship, the program also provides applicants with access to funding opportunities, among other things.

The program will last from March 9 to June 15, 2021.

"The 'green wave' has gone mainstream, and it is here to stay," Founder Institute co-founder Jonathan Greechan said, citing how five states supported cannabis legalization on Election Day.

The collaboration with Arcview Group helps the "next generation of entrepreneurs build transformative businesses that fully leverage the myriad benefits of these plants."

Founder Institute co-founder and CEO Adeo Ressi told Benzinga that they have a proven track record of efficiency.

"We've been doing this since 2009, and since then we have helped nearly 5000 companies raise nearly $1 billion in funding, with an estimated portfolio value of around $30 billion," he said, naming Udemy as their "most famous Alum."

"The Founder Institute works with entrepreneurs at an earlier state than traditional accelerator programs," Ressi added. "Even idea-stage entrepreneurs can apply and join, so long as they're motivated and ready to put in the work required to build a meaningful business."