Colorado Governor Jared Polis (D), in collaboration with the Cannabis Business Office (CBO) within the Colorado Office of Economic Development & International Trade (OEDIT), has announced the launch of the Access to Experts pilot program. This initiative is designed to support Colorado’s social equity licensed cannabis businesses, offering them access to subject matter experts in compliance, marketing, and financial consulting at minimal or no cost.
Access to Experts Program Summary
The Cannabis Business Office is excited to offer an Access to Experts pilot program! Qualifying subject matter experts (“Experts”) will provide services in compliance, marketing, and financial consulting at low or no cost to Social Equity Licensee cannabis businesses. To be eligible for the Access to Experts program as a Social Equity Licensee, applicants must meet the following requirements:
- Colorado Residency: Applicants must be Colorado residents.
- Clean Record: Applicants must not have been the beneficial owner of a license subject to disciplinary or legal action from the state resulting in the revocation of a license issued under marijuana regulations.
- Social Equity Criteria:
- Applicants must have resided for at least 15 years between 1980 and 2010 in a census tract designated by OEDIT as an Opportunity Zone or designated as a “Disproportionate Impacted Area.”
- Alternatively, applicants or their close family members must have been arrested for a marijuana offense, convicted of a marijuana offense, or subject to civil asset forfeiture related to a marijuana investigation.
- Household income in the year before the application must not exceed 50% of the state median income.
- Ownership Requirement: The Social Equity Licensee must hold at least 51% of the beneficial ownership of the regulated marijuana business license.
How does access to experts work?
The program allows participating businesses to engage with experts on various projects, including:
- Compliance audits: ensuring adherence to regulations.
- Brand Identity Creation: Establishing a Strong Brand Presence.
- Investor Pitch Decks: Crafting compelling presentations for potential investors.
Experts are selected based on their specialized knowledge and experience, providing businesses with a wide range of choices. Whether it’s creating a website, developing a social media strategy, or conducting a compliance audit, the Access to Experts program removes financial barriers and empowers social equity cannabis businesses to thrive in Colorado’s dynamic industry.
Conclusion
Colorado’s commitment to social equity in the cannabis sector is commendable. By providing access to experts, the state aims to level the playing field and foster a diverse and thriving cannabis industry. As these businesses receive valuable support, we can expect positive impacts on operational excellence, customer engagement, and overall success.