European Tech Accelerator Offering €100,000 For Early Stage Medical Cannabis Entrepreneurs

The TechforCann Europe Accelerator, dedicated to the medical cannabis industry, has opened a call for submissions, welcoming entrepreneurs from around the world to apply. The accelerator is open to innovative entrepreneurs, start-ups and spin-offs developing the next generation of IP-based products, services and processes for the industry.

The program is funded in part by the government of Malta, which has committed €2.5 million ($2.82 million) to support up to 20 startups over 18 months.

See also: Malta's Parliament Says Yes To Cannabis Legalization, Becoming First In Europe To Legalize Weed

Acceptance to the program is dependent on an evaluation by a scientific advisory board made up of some of the most prolific clinicians, academics and scientists in the world including:

• Prof. Dedi Meiri, who heads the Laboratory of Cancer Biology and Cannabinoid Research at the Faculty of Biology, Technion, at the Israel Institute of Technology;
• Prof. Joseph Tam, president of the International Cannabinoid Research Society, Head of the Obesity and Metabolism Laboratory at the Hebrew University of Jerusalem, and Director of the Multidisciplinary Center on Cannabinoid Research in Israel, specializing in diabetes and obesity;
• Dr. Yakir Rottenberg, head of the Palliative Team of Hadassah at the Hebrew University Medical Center and faculty member at Department of Oncology, Hadassah Medical Center Academic committee of the Multidisciplinary Center for Cannabinoid Research, and inventor of a few patents in the field of drug delivery.

The Program

Over the course of an intensive 12-week program, selected participants will be eligible to receive funding of up to €100,000 ($113,000) and benefit from the support of mentors, service providers and industry executives.

Participants are matched with corporate EU-GMP certified companies that have committed their time and resources to help validate a technical, business or scientific milestone. The program also helps startups refine their business model and growth strategy, build financials, define and increase their valuations and prepare for upcoming rounds of investment.

“A lot has been said about the gaps in the cannabis market, including the lack of funding for early-stage initiatives who bring distributive ideas that can literally change the industry,” said Lilac Mandeles, CEO of TechforCann Europe. “We realized that, beyond funding, with our expertise and global network, we can help these startups gain the knowledge and access a network that will allow these solutions reach the market.”

At the end of the program, TechforCann Europe Accelerator will host an event during which each startup will pitch their company to a global ecosystem including partners, investors, mentors and the media.

Más contenido sobre cannabis en Español en El Planteo.