CannaTech Companies Look to Further Disrupt Marketplace, Industry

There’s no question technology integration into the Cannabis Industry has been fast and furious; fueled by investment capital and a hyper-competitive market, advances in extraction/distillation, lighting, and S2S software have transformed the way we cultivate and process the plant while a proliferation of data analysis as well as mobile and social apps have completely altered the client engagement process.

Leading the tech charge have been CanopyBoulder companies, which makes a ton of sense: Boulder is a well known technology hub, has direct access to the comprehensive Denver/Boulder start-up ecosystem, and is home to an abundance of entrepreneurial talent coming from outside industries. Innovative companies like BDS Analytics, Wurk, Tradiv, and Adistry are just a few Canopy graduates who’ve made a huge splash in the industry.

Last night we were formally introduced to the Spring 2017 Cohort over warm foamy beer, tacos, and a quick address from Mason Tvert from the MPP. While only day two of their 16 week program, the cohort companies were well prepared with displays and demos – many already revenue producing with clients, well beyond MVP and idea phase.

What REALLY stood out throughout the evening was how quickly CannaTech is evolving and the potential impact these companies could have on the cultivation, dispensary, and consumer side. 

For example, Cannabis Big Data - a company founded by Henry Finkelstein of Colorado Springs - seeks to help dispensaries and grows find improved revenue and profitability through improved reporting and business intelligence. While using analytics is hardly a new concept, the granularity of reports and ability to pull data from various sources and synthesize into a singular report was impressive. Likewise was the push/pull functionality of actionable reports using triggers to generate both email and text notifications.

Another potential industry disruptor is FireSale, who uses geo-mapping technology to provide real-time information on cannabis deals in any location. Targeted both to dispensaries looking to quickly move inventory and consumers looking for the best local deal, it’s not hard to imagine this app on a mobile device in the near future. Rather than scouring social media for a “deal”, consumers can search, click, and reserve in seconds.

Equally impressive is Croptimize, founded by Boulder native Kevin Mayer. Targeted specifically toward growers, Croptimize gives cultivators tools to reduce their OpEx and better balance their energy load and consumption using IoT technology used in other industries (think Nest, another Boulder based company).

Overall the night gave us a glimpse into what we can expect moving forward: technologists from outside industries applying their deep knowledge in efforts to further optimize both the entire plant and client lifecycle. Like Semiconductors and other technologies that have evolved in recent years, we can expect leaps not steps. Just wait til the real money shows up!