Colombia has a growing legal cannabis industry, propelled by expertise and local investment alike. Some of whom are organizing the now digital sequel to previous years successful cannabis summits. In a unique period of rampant growth in the cannabis sector and pandemic induced mental health concerns and safety precautions it promises to be an engaging and interesting experience.
In sharp contrast with the ravages of the coronavirus, the cannabis industry in Latin America is experiencing some strong moments. For example, in Colombia, according to figures from the Colombian Association of Cannabis Industries (AsoColCanna), during 2020, the cannabis business consolidated nearly USD 4.5 million in total exports. The sector registered a growth of 1,363 % compared to 2019.
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Among the factors that have influenced this behavior is the positive economic impact that this industry has generated in society and its contributions to the treatment of mental and physical illnesses exacerbated by the pandemic, such as depression, insomnia, anxiety and bipolarity, among others.
According to a recent survey conducted by the National Administrative Department of Statistics, six out of ten Colombians reveal they have had symptoms or feelings that have affected their mental health because of the pandemic, so companies in industries such as cannabis have been quick to show concern in addressing this issue.
Such is the case of Muisca Capital Group, the first Latin American investment management firm in the legal cannabis sector, which has been in charge of making clear the benefits of medical cannabis. Currently, aware of the challenges the industry faces for 2021, they are launching for the sixth time two summits. There, various actors in the cannabis sector will be able to share experiences and generate investment for their businesses.
These are the Latino Science Forum and the Latino Investment Summit 2021, two digital meetings which will take place on 26 and 29 January. In the former, the scientific community of doctors, patients and growers will have the opportunity to find out about the advances of medical cannabis in the world. In the latter, entrepreneurs will have a space which, in the style of a ‘shark tank’, to allow them to showcase their project to investment companies and industry insider to raise capital.
“Our platform and fundraising service has so far been able to mobilize more than USD $50 billion from various companies in the Americas, generating a truly positive impact on the sector at the regional level. That’s why today we want to continue our efforts in this direction through these summits, which promise to make the latest research in the medical cannabis field accessible and to connect the industry’s entrepreneurs with family offices, institutional investors and accredited individuals from around the world,” said Carol Ortega, founder and CEO of Muisca Capital Group.
The Latino Science Forum, symposium to be held on the first day, is a scientific space for doctors, academics, scientists, entrepreneurs, regulators and patients from around the world. It is designed to provide cutting-edge education and training on global advances in the medical cannabis field.
This year, the symposium, which is recognized as one of the industry’s strongest B2C events, will be attended by world-renowned experts and industry leaders. Among them will be Michael Nistorescu, CEO of CannaVerde Pharma and Tracy Ryan, founder of CKSoul, both prestigious companies in the legal cannabis market.
Latino Investment Summit 2021 will be an investment summit where a network of more than 1000 accredited investors (institutional, regional and global investment funds, family offices, among others) will act as “sharks” and evaluate the commercial proposals presented by the companies participating in this event.
In this sixth digital version, the summit will feature the participation of the CEOs and co-founders of Arcadian Fund, CFN Media and Arcview Ventures, three of the most recognized global venture capital funds in the cannabis industry.
In its previous edition, these two summits brought together more than 500 participants, including 300 industry players and close to 206 accredited investors. Together they shared the opportunity to capitalize on and support outstanding projects from Latin America and the United States. Given that, according to an analysis by Muisca Capital Group, the cannabis industry is expected to generate more than $100 billion in economic benefits by 2024 in the US alone, it is a prime time for investors and entrepreneurs alike.
Featured image by Drew Taylor via Unsplash
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