In an exciting move to boost diverse and minority-owned businesses in the cannabis industry, Benzinga Cannabis, in partnership with Curaleaf’s corporate philanthropy arm Rooted In Good has unveiled the finalists for the 2024 Canna Founders Pitch Competition. This event is a major highlight of the Benzinga Cannabis Market Spotlight, set to take place on June 17, 2024, in New Brunswick, New Jersey.
The five companies selected to showcase their innovative cannabis ventures are Bada Bloom Inc., Jades Elevation, TLEHL, The White Oak Bridge and CannPowerment. These businesses were chosen from a competitive pool due to their unique advantages, strong teams, business viability and potential for scalability.
Bada Bloom: Pioneering Social Equity In Cannabis
Bada Bloom Inc. is carving out a niche with its craft cultivation techniques and premium flowers grown using energy-efficient technology.
Founder Michael Marinaro emphasized the company’s dedication to organic, solventless extraction methods and the recent approval of their retail storefront. “We have created a following of consumers who want high-quality products in the market,” Marinaro said.
Additionally, Bada Bloom is set to feature in an upcoming TV series, which will provide educational content on cannabis cultivation and consumption.
Jades Elevation: Elevating Cannabis Through Urban Agriculture
Danielle Buntyon’s Jades Elevation is a Black-owned farm in Memphis, known for its high-quality THC and CBD products. Its mission is to bring handmade, artisanal products to the cannabis market, similar to a craft brewery.
Buntyon, who also teaches at Tennessee State University, is passionate about helping others enter the cannabis industry through urban agriculture. “Our products are carried in Tennessee and Arkansas, and we focus on organic farming methods,” Buntyon stated.
TLEHL: Crafting Solventless Cannabis Concentrates
TLEHL, which stands for "The Legal Eagle Has Landed," is a New Jersey-based craft cannabis manufacturing venture led by CEO Ray "Dab" Riga. The company specializes in solventless concentrates, which Riga likens to the "fresh-squeezed orange juice of cannabis products."
Riga is committed to hiring ex-offenders affected by the war on drugs. “Our mission is to provide organically grown, carbon-neutral, data-driven cannabis products,” said Riga.
The White Oak Bridge: Transforming Cannabis Logistics
Connecticut-based The White Oak Bridge is focused on revolutionizing cannabis logistics with secure, temperature-controlled warehousing and efficient B2B transportation.
CEO Justin Frytz and his team are also gearing up to distribute low-dose THC hemp beverages across numerous liquor stores, thanks to a new Connecticut law. “We aim to streamline operations for cultivators, producers, manufacturers, and retailers,” Frytz explained.
CannPowerment: Empowering Through Cannabis Innovation
CannPowerment, led by Matha Figaro and James Barrett, is on a mission to revolutionize the cannabis industry through innovative product development and social equity initiatives.
Its brand, ButACake, offers unique infused baked goods that have quickly gained market demand. “Our mission is to empower communities and foster inclusivity within the cannabis sector,” Figaro said.
Prizes and Future Opportunities
The competition offers a $2,500 prize for the runner-up and $5,000 for the winner. Both top companies will move on to the Rooted In Good Cannabis Demo Day at Boston Cannabis Week on September 19, where they will vie for an additional $25,000. This initiative not only provides financial support but also crucial exposure and networking opportunities for the participants.
Judges will evaluate the entries based on competitive advantage, team strength, business viability, and scalability potential. For these ambitious entrepreneurs, the Benzinga Cannabis Market Spotlight event is an unmatched opportunity to connect with industry leaders and gain significant exposure.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Cover Image: AI
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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