Leaf Forward to make up to thirty $50,000 investments in early stage cannabis startups annually.
TORONTO, Aug. 21, 2018 /CNW/ - Leaf Forward, Canada's first and leading cannabis business accelerator, is pleased to announce it is now accepting applications to its Toronto based, 12-week accelerator program for early stage cannabis companies. Successful applicants will receive a $35,000 cash investment and $15,000 worth of programming and services. The first cohort will fund 4-6 companies and will be offered up to three times annually.
Investments will be made from the Leaf Forward Accelerator Fund ("Accelerator Fund"), which received a $500,000 lead investment from Green Acre Capital, the leading Canadian cannabis venture fund.
During each 12-week accelerator cohort, a small group of carefully selected cannabis startups work closely with the Leaf Forward team, industry leaders, and subject matter experts to develop their products, grow their businesses, and prepare to raise their next round of funding.
Alex Blumenstein, CEO of Leaf Forward commented:
"Leaf Forward has supported 50 entrepreneurs over the past year, our 12-week program equips cannabis startups with the tools, connections, and knowledge they need to succeed. With Leaf
Forward's inaugural Accelerator Fund we can now provide early stage companies with capital, in addition to our leading programing and outstanding mentor network."
Matt Shalhoub, Managing Director of Green Acre Capital commented:
"We've been working closely with Leaf Forward over the past year, and we're excited to move our relationship forward by making a significant investment into the Accelerator Fund. We believe Leaf is perfectly positioned to help early stage cannabis entrepreneurs perfect their strategy and business models, and access hard to find seed capital, in the city that has become the global cannabis hub. We hope that the combined networks, and industry expertise of Leaf and Green Acre will be instrumental in shaping the next generation of cannabis startup opportunities."
Mr. Shalhoub will sit on the Investment Committee of the Leaf Forward Accelerator Fund, along with other industry leaders, Aaron Salz (CEO, Stoic Advisory), John Prentice (CEO, Ample Organics), and Neha Khera (Partner, 500 Startups). The investment committee will advise Leaf Forward management on investment decisions and accelerator programming.
Early acceptance application deadline - September 4th, 2018
Final application deadline - September 12th, 2018
Accelerator program begins in Toronto - October 15th, 2018
About Leaf Forward:
Leaf Forward is Canada's first and leading cannabis business accelerator, providing early stage cannabis focused businesses with mentorship, networking, and learning opportunities from successful leaders who have taken ideas and turned them into reality. Leaf Forward leverages its extensive network of entrepreneurs, industry experts, and senior leaders to foster and grow the canna-startup ecosystem preparing founders to pitch investors, raise money and take their business to the next level.
SOURCE Leaf Forward
For further information: Alex Blumenstein, 416-275-2911, [email protected]