Green Thumb Industries Inc. (Green Thumb) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise™ Dispensaries, today announced the Company will accept applications to its previously announced LEAP New Business Accelerator beginning on August 1, 2021. The LEAP incubation program is intended to help social equity licensees not only operationalize their licenses but also ensure their success through mentorship and guidance from the Green Thumb team.
“We’re thrilled to see Green Thumb’s home state of Illinois take meaningful steps to pursue diversity and equity in the cannabis industry,” said Green Thumb Senior Vice President of Government Affairs Dina Rollman. “These social equity licensees not only endured the always-challenging application process but also COVID-19 and a protracted delay in license awards. Since we first started working with Illinois social equity applicants in September 2019, we’ve learned a lot about the unique barriers that social equity applicants face and how we can use our resources to advance equitable ownership in the cannabis industry going forward. We’re excited to extend our knowledge to those awarded licenses in the state.”
Between August 1st and August 31st, Illinois Craft Grower and Dispensary license-holders can apply to enter the incubator’s “Bake Off.” The Bake Off is a 10-minute opportunity to provide an overview of the new licensee’s business to Green Thumb’s leadership team.
Evaluation criteria for Green Thumb’s Bake Off will include, but not be limited to, each applicant’s:
- Business plan compatibility with Green Thumb infrastructure and knowledge base.
- Availability to commit time to interact with Green Thumb’s LEAP team for mentorship.
- Financial acumen and willingness to commit to LEAP loan terms.
- Participation in the prior licensing education and application phase of LEAP (a consideration, not a decisive factor).
- Authentic passion, heart and the X-factor for promoting well-being through cannabis.
Winners of the Bake Off will receive funding from Green Thumb and six months of in-house mentorship. The Company will select and advise at least one dispensary licensee and at least one craft grower licensee and focus on positioning them for success. Visit www.gtigrows.com/LEAP for more information.
