Green Thumb Industries Opens LEAP New Business Accelerator Applications for Social Equity Licensees in Illinois
Green Thumb Industries (GTBIF) announced the opening of applications for its LEAP New Business Accelerator on August 1, 2021, aimed at supporting social equity cannabis licensees in Illinois. The program includes a 'Bake Off' where applicants present their business ideas. Winners will receive funding and six months of mentorship from Green Thumb. The initiative reflects Green Thumb's commitment to diversity and equity in the cannabis industry, helping those facing unique challenges in operationalizing their licenses.
- Launch of LEAP New Business Accelerator to support social equity licensees.
- Funding and mentorship provided to winners of the Bake Off.
- None.
CHICAGO and VANCOUVER, British Columbia, July 29, 2021 (GLOBE NEWSWIRE) -- Green Thumb Industries Inc. (Green Thumb) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise™ Dispensaries, today announced the Company will accept applications to its previously announced LEAP New Business Accelerator beginning on August 1, 2021. The LEAP incubation program is intended to help social equity licensees not only operationalize their licenses but also ensure their success through mentorship and guidance from the Green Thumb team.
“We’re thrilled to see Green Thumb’s home state of Illinois take meaningful steps to pursue diversity and equity in the cannabis industry,” said Green Thumb Senior Vice President of Government Affairs Dina Rollman. “These social equity licensees not only endured the always-challenging application process but also COVID-19 and a protracted delay in license awards. Since we first started working with Illinois social equity applicants in September 2019, we’ve learned a lot about the unique barriers that social equity applicants face and how we can use our resources to advance equitable ownership in the cannabis industry going forward. We’re excited to extend our knowledge to those awarded licenses in the state.”
Between August 1st and August 31st, Illinois Craft Grower and Dispensary license-holders can apply to enter the incubator’s “Bake Off.” The Bake Off is a 10-minute opportunity to provide an overview of the new licensee’s business to Green Thumb’s leadership team.
Evaluation criteria for Green Thumb’s Bake Off will include, but not be limited to, each applicant’s:
- Business plan compatibility with Green Thumb infrastructure and knowledge base.
- Availability to commit time to interact with Green Thumb’s LEAP team for mentorship.
- Financial acumen and willingness to commit to LEAP loan terms.
- Participation in the prior licensing education and application phase of LEAP (a consideration, not a decisive factor).
- Authentic passion, heart and the X-factor for promoting well-being through cannabis.
Winners of the Bake Off will receive funding from Green Thumb and six months of in-house mentorship. The Company will select and advise at least one dispensary licensee and at least one craft grower licensee and focus on positioning them for success. Visit www.gtigrows.com/LEAP for more information.
About Green Thumb Industries:
Green Thumb Industries Inc. (“Green Thumb”), a national cannabis consumer packaged goods company and retailer, promotes well-being through the power of cannabis while giving back to the communities in which it serves. Green Thumb manufactures and distributes a portfolio of branded cannabis products including Beboe, Dogwalkers, Dr. Solomon’s, incredibles, Rythm and The Feel Collection. The company also owns and operates rapidly growing national retail cannabis stores called Rise™ Dispensaries. Headquartered in Chicago, Illinois, Green Thumb has 15 manufacturing facilities, licenses for 110 retail locations and operations across 13 U.S. markets. Established in 2014, Green Thumb employs over 2,900 people and serves thousands of patients and customers each year. The company was named to Crain’s Fast 50 list in 2021 and a Best Workplace by MG Retailer magazine in 2018 and 2019. More information is available at www.GTIgrows.com.
| Investor Contact: | Media Contact: |
| Jennifer Dooley | Grace Bondy |
| Chief Strategy Officer | Corporate Communications |
| InvestorRelations@gtigrows.com | gbondy@gtigrows.com |
| 310-622-8257 | 517-672-8001 |
Source: Green Thumb Industries
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