The 'Uber for weed' market is here to stayRowling Quotes to Motivate and Inspire You Neuroscience Tells Us How to Hack Our Brains for Success 10 Must-Read Books About the Market, Investing and Building Wealth 10 Instagram Accounts Every Entrepreneur Should Follow 4 Toxic Habits that Keep 'Wantrepreneurs' Down October 6, 2016 Long gone are the scary days of Reefer Madness and an insurmountable societal fear of cannabis.CNN's Sanjay Gupta recently blew up a 70-year myth about the enigmatic herb, confirming its medicinal properties.This, while some states are legalizing the herb's recreational use, and even more states already permit medical marijuana and its derivatives.It's this momentum that is driving some entrepreneurs to dream of huge returns from the business of cannabis.Industry thought leaders spoke to thousands of aspiring cannapreneurs at the recent Cannabis World Congress, and the standing-room-only keynote crowd was more diverse and less eccentric than one might expect.Dreadlocks meet Dolce & Gabbana in the new cannabis economy, and that's because the business of cannabis isn't just the business of seeds, soil and water.

Today's harvest requires a whole lot of innovation, paired with an influx of outside talent.Related: How to Grow a Cannabis Farming Business in the Blazing Marijuana EconomyNew technologies like 3-D printing are being introduced.Specialized child-resistant, odorless packaging has been developed.Cannabis seed-to-sale cycles are now run with sophisticated inventory systems, business decisions are data-driven, and the industry has the same types of specialized professional services commonplace in traditional business.Startups to WatchThis collection of notable cannabis startups spans manufacturing, distribution, retail and a few things in between.They're a representation of the industry developments that exist and a mere glimpse of those to come.These innovative Washington entrepreneurs made two wise decisions.First, the founders decided that there is a market of sophisticated users who want a designer-sculpted marijuana-smoking bowl in the tradition of vintage collector pipes and cigarette lighters.

Second, they believed they could craft the unique bowls with 3-D printers.pax ploom vaporizer cheapestYou don’t need a legal market to make that saleable.WeedTraQR identified a unique regulatory compliance opportunity -- the whereabouts of legal cannabis needs to be known at all times, and existing systems didn't provide for that.cheap hash oil vape pensSo the company built a modern, simplified SaaS solution enabling any mobile device to report traceability data simply and quickly, turning it from a burden to a business competitive advantage.Gateway promotes itself as a “full immersion business accelerator” and seed investment program, and it may lead the market as a very flexible and aggressive approach to funding startups.vape pen weed tank

Gateway invests $30,000 (in each company) in up to 10 different cannabis startups two times a year.AcroVape offers a battery-powered vaporizer it claims provides the best tasting and smoothest hitting dab.e cigarette haverhillThe AcroVape does away with butane and torches.e cigarette sensorThe device is portable and requires no plugging in.FunkSac addresses the problem of product packaging.e-cigarette bialystokMade of recyclable materials, these bags are child-resistant and odorless.iqos south africaBags can be printed with directions, business names or product details.PreciseCannabis is carving itself out as a thought leadership and PR agency for cannabis brands.iqos avis

The startup helps executives and brands gain exposure in top-tier mainstream media and industry publications.iqos kuwaitGrowBuddy is “built for growers by growers.” This app is a essentially portable farming manager.It keeps growers up to date on growth stages.You can make notes, monitor production and keep a journal.And, it includes a marketplace for shopping supplies.New Frontier.A “recovering” former investment banker looked into the future and saw that every other industry had data, analytics and market research, but not the growing cannabis sector.That's when New Frontier was born.The company guides trailblazers in emerging markets to make critical decisions based on data.PotBot claims to make the use of medical marijuana smarter with technology that blends cannabis research with robotics, artificial intelligence and DNA analysis.The products recommend cannabinoid levels and custom strains.

Desktop and mobile apps advise patients on the suggested strains and administration methods for their specific health problems.LeafLine built a 42,000-square-foot-indoor farm in Minnesota committed to harvesting cannabis for the medical marijuana market.The company is focused on cultivation, extraction and packaging medical marijuana for Minnesota patients.A cigarette smoking robotic tester machine is seen at the Czech Republic-based subsidiary of cigarette-maker Philip Morris International Inc.in Kutna Hora in this 2012 file photo.(PETR JOSEK/REUTERS) tobacco Philip Morris’s new technology makes a case for reunion with Altria Add to ... Philip Morris International Inc.had a disappointing earnings report Tuesday – sales volume was down and the strong U.S.dollar continued to prove painful.But buried deep within the report was a bright spot that happens to be the key reason Altria Group Inc., its former parent company, might want the business back: “A highlight of the quarter was our exceptional iQOS performance in Japan, where HeatSticks reached a national share for the quarter of 2.2 per cent, demonstrating the tremendous potential of the reduced-risk products category.”What is iQOS?

In a nutshell, it’s a new smoking technology that involves heating tobacco rather than burning it – something that Philip Morris International is hoping to claim reduces the risk of smoking-related diseases and will reignite its growth.As of now, the technology looks to be a real game-changer for the industry, and Philip Morris International has that first-mover advantage.The company says it’s spent more than $2-billion (U.S.)on research and development of smoking alternatives, as conventional cigarette consumption wanes in many markets.Altria has a hand in the iQOS system because it has a partnership with Philip Morris International for coming up with these new products.However, the two are separate companies.They split apart in 2008, leaving Altria focused on the U.S.market, where it has tremendous pricing power but is losing smokers.They’ve launched iQOS products abroad, though, which is Philip Morris International’s territory.And they’re having success there.This builds on the argument that the two should recombine officially, instead of just sharing R&D.

While cigarettes remain a massive $700-billion global industry, these reduced-risk products look to be the tobacco giants’ best chance at driving future sales.And even though marijuana could well be another growth area, it’s still years away from becoming a legitimate industry that companies like Altria can move in on.A hypothetical takeover of Philip Morris International, valued at $154-billion, would certainly set the M&A record this year.But it’s not crazy to think Altria could do it.Altria owns about 27 per cent of SABMiller, the $94-billion brewer that’s now in the (long and gruelling) process of being sold to Anheuser-Busch InBev.There are tax implications and whatnot, but simply put, Altria would have the wherewithal to pursue Philip Morris International.And with low interest rates, low leverage and sustainable cash flow, borrowing funds wouldn’t be a problem either.Tara Lachapelle is a columnist with Bloomberg News Also on The Globe and Mail Updated June 21 4:00 PM EDT.

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