Marijuana Business Incubator Launches In Texas As Entrepreneurs Anticipate Legalization

[midnight]

"The Texas Cannabis Industry Association (TCIA) has already begun working with nine startups on everything from business plans to legal advice. It also lobbies on cannabis policy issues at the state level."

"In March, Texas Rep. David Simpson proposed legislation in favor of removing marijuana prohibition altogether in his state, with the Republican arguing it should be regulated like any other agricultural commodity. “I am proposing that this plant be regulated like tomatoes, jalapenos or coffee,” Simpson told local reporters at the time, according to KLTV-TV in Tyler. “Current marijuana policies are not based on science or sound evidence, but rather misinformation and fear.”

Also last month, Texas lawmakers proposed two bills meant to legalize medical marijuana. And, more recently, the National Organization for the Reform of Marijuana Laws set up a new chapter in the town of Denton.

But Texas isn’t the only place where cannabis capitalists are attempting to get a head start. As the legal pot business continues to boom in Colorado and Washington, entrepreneurs in other states such as Florida and Illinois are preparing for their own green rush."

http://www.ibtimes.com/marijuana-business-incubator-launches-texas-entrepreneurs-anticipate-legalization-1896330

[NightWatcher]

1. As with all things cannabis related, Caveat Emptor

Ahead of the vote last year here in Florida for medical cannabis (which needed 60% to pass but got only 58%) various seminars started popping up to cash in on the coming green wave. These seminars charged from $200 to as much as $500 a day that I saw. They were supposed to get people plugged into the system and ready for business (they were all very vague). I recall only seeing one that actually mentioned the growing side of the business. Some people even went so far as to get business licenses so that they could sell on day one. I researched a couple of these seminars but did not attend any of them, but they seemed to be very fly by night and made no real claims as to what was to be gained from attending.

The funny thing about all of this is that the ballot amendment was very vague and there was no wording about the business of actually selling the medical cannabis. Had it passed, the state health department was to have several months to determine how to produce, distribute, sell, and who could purchase or even possess the cannabis.

Be careful spending money on business that is not even legal. I'd even go so far as to say that before it's legal in the eyes of the feds, you should exercise extreme caution.