This past week, thee Minority Cannabis Business Association and Merida Capital Partners launched the i2 Accelerator with the goal of empowering and fast-tracking minority-owned cannabis businesses that develop innovative solutions for the fastest growing industry in the world.
i2 provides access, networks, tools and resources to grow participants’ relationships and understanding of successful models, while helping legitimize and scale the business.
Recipients will be awarded a minimum of a $50,000 investment, as well as mentorship, access to influencers and other resources provided by Merida and MCBA.
Mitch Baruchowitz, managing partner at Merida Capital Partners, said during an exclusive chat that Merida has already allocated a significant amount of capital to minority-and-women-run businesses that have met the firm’s selective criteria. However, he added they wanted to address the lack of small business resources for minority entrepreneurs.
“With i2, we can create a framework by which smaller entrepreneurs in communities impacted by the war on drugs have an opportunity to pursue their dreams first, but more importantly, can do so with the type of support and network resources that often take years to accrue,” Baruchowitz said.