CannPowerment took residence the highest prize on the 2024 Canna Founders Pitch Competitors in New Brunswick, New Jersey.
The competitors, which concluded the Benzinga Hashish Market Highlight on Monday (June 17), featured 5 revolutionary hashish ventures.
But it surely was CannPowerment’s CEO Matha Figaro — the creator of ButACake edibles — who impressed the panel of judges to snag first place and a $5,000 prize.
Bada Bloom Inc., Jades Elevation, TLEHL and The White Oak Bridge additionally took half within the “Shark Tank”-like contest, with White Oak taking residence the second place prize.
Benzinga Hashish, in partnership with Curaleaf’s company philanthropy arm Rooted In Good, selected these companies from a aggressive pool as a result of their distinctive benefits, robust groups, enterprise viability and potential for scalability.
Judges evaluated the entries earlier than a capability crowd on the New Brunswick Performing Arts Middle; every entrant boasts a aggressive benefit, staff energy, enterprise viability, and scalability potential.
For these formidable entrepreneurs, the Benzinga Hashish Market Highlight occasion served as an unmatched alternative to attach with business leaders and achieve vital publicity.
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Figaro, a pastry chef with experience within the meals regulation and compliance area, introduced CannPowerment as “a startup on a mission” to revolutionize the hashish business by way of revolutionary product growth and social fairness initiatives.
Its model, ButACake, gives distinctive infused baked items which have rapidly gained market demand.
“Our mission is to empower communities and foster inclusivity throughout the hashish sector,” Figaro mentioned.
Figaro co-founded CannPowerment with CRO James Barrett, a regional gross sales supervisor for Germany-based Pester Pac Automation, a pharmaceutical manufacturing tools provider.
The White Oak Bridge, the runner-up, received the second-place prize of $2,500.
The Connecticut-based firm is targeted on revolutionizing hashish logistics with safe, temperature-controlled warehousing and environment friendly business-to-business transportation.
CEO Justin Frytz and his staff are additionally gearing as much as distribute low-dose THC hemp drinks throughout quite a few liquor shops, due to a brand new Connecticut legislation.
“We purpose to streamline operations for cultivators, producers, producers, and retailers,” Frytz mentioned.
Bada Bloom is carving out a distinct segment with its craft cultivation strategies and premium flowers grown utilizing energy-efficient know-how.
Founder Michael Marinaro emphasised the corporate’s dedication to natural, solventless extraction strategies and the latest approval of their retail storefront. “We’ve created a following of shoppers who need high-quality merchandise available in the market,” Marinaro mentioned.
Moreover, Bada Bloom is ready to characteristic in an upcoming TV collection, which is able to present instructional content material on hashish cultivation and consumption.
Danielle Buntyon’s Jades Elevation is a Black-owned farm in Memphis, recognized for its high-quality THC and CBD merchandise. Its mission is to carry handmade, artisanal merchandise to the hashish market, just like a craft brewery.
Buntyon, who additionally teaches at Tennessee State College, is enthusiastic about serving to others enter the hashish business by way of city agriculture. “Our merchandise are carried in Tennessee and Arkansas, and we deal with natural farming strategies,” Buntyon said.
TLEHL, which stands for “The Authorized Eagle Has Landed,” is a New Jersey-based craft hashish manufacturing enterprise led by CEO Ray “Dab” Riga. The corporate focuses on solventless concentrates, which Riga likens to the “fresh-squeezed orange juice of hashish merchandise.”
Riga stays dedicated to hiring ex-offenders affected by the warfare on medicine.
“Our mission is to supply organically grown, carbon-neutral, data-driven hashish merchandise,” mentioned Riga.
CannPowerment and The White Oak Bridge will transfer on to the Rooted In Good Hashish Demo Day at Boston Hashish Week on Sept. 19. Each startups will vie for an extra $25,000.
This initiative not solely gives monetary assist but additionally essential publicity and networking alternatives for the individuals.
Hashish rescheduling appears to be proper across the nook. Wish to perceive what this implies for the way forward for the business? Hear immediately for prime executives, buyers and policymakers on the nineteenth Benzinga Hashish Capital Convention, coming to Chicago this Oct. 8-9. Get your tickets now earlier than costs surge by following this hyperlink.
Photograph Corynn Egreczky for Benzinga
