The first and only hybrid tech accelerator in Europe dedicated to the medical cannabis industry officially launches to entrepreneurs from around the world
Nov 30, 2021, Malta–
The first and only tech accelerator in Europe dedicated to the medical cannabis industry officially launched today, with an open call to entrepreneurs from around the world.
TechforCann Europe Accelerator identifies and nurtures breakthrough companies resolving challenges in the medical cannabis industry. The hybrid program focuses on early stage IP based start-ups that have potential for exit/IPO.
The government of Malta has committed 2.5 million euro to the accelerator, supporting up to 20 companies over 18 months.
“The cannabis industry must offer more products, processes and solutions that are clinically validated, safe, sustainable and cost-effective,” says Lilac Mandeles, CEO of TechforCann Europe. “Accelerator programs are recognized as a shortcut to innovation, with participating companies often raising 50% to 150% more funding in the years following the accelerator experience”.
Innovation and evidence-based science are the answer to industry challenges that remain a barrier of entry to the pharma and big data sectors that will enable growth. The majority of Western European countries are developing infrastructures for patient access to medical cannabis, and there are currently 700+ medical cannabis clinical trials worldwide related to pain, inflammation, autism, insomnia, PTSD and more.
“Our vision is to build commercially viable businesses, based on the unique IP that is coming from entrepreneurs and universities around the world who are opening cannabis curriculums and encouraging innovation (tech transfer)”, says Mandeles.
The accelerator focuses on the Medical Cannabis Market, including prescription medicine for specific indications for the Pharmaceutical/OTC Industry, and the Quality of Life Market, promoting holistic health and wellness – including the Nutraceuticals/cosmetic industry.
Entrepreneurs and startups from around the world are invited to apply to the first cohort, starting January 2022. Following a deep and methodological submission process, six winning companies will be selected to receive 100,000 Euros and join an intensive 12-week program for success. In addition to funding, participants benefit from a top-tier curriculum covering both scientific and business topics, 1:1 mentorship from leading experts in the industry, dedicated hours with pre-vetted service providers, and more.
“What makes the accelerator unique is that each participant works with an EU-GMP licensed partner to define and validate business or technology milestone,” says Mandeles. “At the end of each cohort startups will participate in an in-person event with access a global network of partners, customers, alumni association and investors”.
TechforCann is currently raising additional capital from private investors who wish to upgrade and access a diversified portfolio.
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