Boulder, Colorado: Business Accelerator for Cannabis-related Businesses
Patrick Rea, CEO/Co-founder, Managing Director
Mark Nottoli, Co-founder
Steven DeAngelo, Partner
Troy Dayton, Partner
CanopyBoulder seeks to follow the equity and fundraising model established by business accelerators like YCombinator and Techstars. CanopyBoulder wants to support the responsible growth of the cannabis industry by mentoring young companies as they get their businesses off the ground.
CanopyBoulder selects ten startups to receive a seed investment of $20,000, relocates their founders to Boulder and situates them under one roof. They then begin an intense mentoring and business-building program taking place over 13 weeks, concluded by a Demo Day for founders and potential investors.
Companies work and learn under the tutelage of experienced, renowned mentors that cover a wide array of technical expertise and industry experience. In exchange, CanopyBoulder gets 9.5% equity in each underlying business while actively trying to secure the success of their investments.
Revenue Drivers: CanopyBoulder doesn’t seek active short-term revenues, but rather seeks to participate in the equity value increases that may occur in the companies that attend CanopyBoulder programs. Company management will be actively engaged in seeing underlying startups succeed and gain further rounds of financing from outside investors, leading up to a possible buyout or public offering.
Competitors: There are many accelerators for a startup founder to consider, but entrepreneurs focused on the cannabis industry will find CanopyBoulder a unique offering, based on the intimate industry knowledge possessed by the mentoring staff.
Sales/Marketing Strategy: CanopyBoulder seeks to leverage a strategic partnership with The ArcView Group, an angel investing collective that has invested millions in cannabis-based companies in the past few years. Startups that attend CanopyBoulder will have access to that pool of nearly 400 accredited investors that understand how big the cannabis industry could become in the next decade.
CanopyBoulder also seeks to expand to other cities that are becoming hubs for cannabis entrepreneurs. According to Patrick Rea,
“We’re building an ecosystem of investors, mentors and entrepreneurs at the nexus of the cannabis industry and we intend to bring this to other cities. We see San Francisco, Seattle, Las Vegas, Chicago, New York, Boston and Miami as locations for future Canopy accelerators. We want to bring our expertise and investor connections to these markets to foster the development of new businesses that add to a professionally run, responsible, and sustainable industry.”
Patrick Rea, Co-founder, CEO and Managing Director, is a 17-year veteran of startups, growth companies and big corporate entities. Rea’s background is in M&A and venture capital with a focus on health, wellness and self-care.
Mark Nottoli, Co-founder, is the CEO of PharmaNutrients. Nottoli is a serial entrepreneur with extensive experience in healthcare and regulated dietary supplement development and manufacturing.
Steve DeAngelo, Partner, is the Co-founder of Harborside Health Center and President of The ArcView Group. DeAngelo is an undisputed national leader and advocate for the legal cannabis industry. Few, if any, possess more knowledge, connections and experience in the American cannabis industry
Troy Dayton, Partner, is the CEO of The ArcView Group. Dayton is an elected board member for the Marijuana Policy Project, a founding board member of the National Cannabis Industry Association and co-founder of Students for Sensible Drug Policy.