CannaTech Ventures is a cannabis industry technology incubator, helping early-stage founders go from the back of the napkin to incorporation in 12 weeks. The incubator helps innovators building tech or tech-enabled products gain access to the tools, education, network, and capital sources necessary to increase success.
Chicago is the Silicon Valley of Cannabis. There is no doubt that the Cannabis industry is booming. With all the emerging companies in Chicago, there is still a significant need for support. Chicago is the ideal city because it’s rich in diversity and culture. Our mission is to lead with diversity to grow a more equitable cannabis industry.
Applications are accepted on a rolling basis. You are welcome to apply any time and be considered for the next cohort start date.
12 Weeks
$750 & 4% in warrants
Warrants are financial instruments that give the holder the right, but not the obligation, to purchase a company's stock at a specific price before the warrant expires. In the context of the CannaTech Ventures Incubator Program, this means that we take 4% in warrants as part of the cost of participation.
Here’s how it works:
Right to Purchase Stock: By issuing warrants, CannaTech Ventures obtains the right to purchase 4% of your company's stock at a pre-determined price. This price is usually set at the current market value or a valuation agreed upon at the start of the program.
No Immediate Dilution: Unlike issuing shares outright, warrants do not immediately dilute the ownership of existing shareholders. Warrants only become shares if and when CannaTech Ventures decides to exercise them.
Potential Future Ownership: If your company grows and succeeds, CannaTech Ventures may choose to exercise the warrants, thus becoming a shareholder by purchasing the shares at the agreed-upon price.
Support for Growth: This arrangement aligns our interests with your success. We are motivated to help your company grow and succeed because our potential return is tied to your future valuation
Taking warrants allows us to invest in your potential success without requiring a large upfront payment. It also ensures that our interests are aligned with yours, as our potential return depends on the growth and success of your company.
Reduced Upfront Cost: The program cost is kept relatively low at $750, with the additional investment coming in the form of warrants.
Aligned Interests: Our success is tied to your success, ensuring we are committed to supporting your growth.
Access to Resources: You receive all the benefits of the incubator program, including mentorship, resources, and networking opportunities, which can significantly boost your startup's chances of success.If you have any further questions about the cost or the warrant structure, please feel free to contact us at www.cannatech.ventures/contact.
Yes. The application is open to all innovators in the US.
The program supports a hybrid cohort, meaning all startups in Chicago will join the class at 2112, and startups outside Chicago will join virtually.
You have to be 18+.
You are pre-seed.
You need to build tech or tech-enabled products (no services companies).
You have to be willing to commit to the 12-week program.
CannaTech Ventures is an early-stage incubator, providing startups with the education and community they need to go from the back of the napkin to incorporation through a twelve-week program. When going through CannaTech Ventures’ incubator, startups will have the full support and resources needed to pursue their idea meaningfully. Startups will have access to a physical location; they’ll learn from industry experts and be introduced to potential capital sources, with mentors and teachers ready to help.
Investment is not guaranteed. If you put in the work, do the homework, participate in the community, and leverage our resources, you will be ready to meet with early-stage investors by the time you graduate.
Community platform.
Proprietary tools + curriculum.
Co-working access.
Industry experts.
What about post-graduation? What support do you offer?You will have access to the curriculum, tools, and resources for life. We’ve also developed an online community to ensure ongoing support post-graduation.
Incubators are for ‘early/idea stage’ founders.
Accelerators are for startups typically generating $500k+ in yearly revenue, looking to aggressively scale (this number varies depending on the program)
Please fill the application form out here. Question #7 select “becoming a teacher.” If you’re wondering what it means to be a teacher and the expectations, please review this document here.
Please fill the application form out here. Question #7 select “becoming a mentor.” If you’re wondering what it means to be a mentor and the expectations, please review this document here.
