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LIST: Technology Opportunities Inside The Cannabis Landscape Getting Major Attention

As the marijuana industry continues to grow and advance, technology is going to become a major part of the landscape as a whole. From testing to growing to security, technology start-ups and established companies are stepping forward to provide the best possible service to the businesses that will need it.

Julie Weed of Forbes.com spoke with Eddie Miller, CEO of InvestInCannabis and he gave up his top ten list of technology opportunities in the marijuana industry. Miller founded his company a few years ago with the aim of connecting private investors to businesses focused specifically on providing technology to the marijuana industry. Since then, he has helped fund seven cannabusiness start-ups.

Here are Miller’s Top 10 technology investment opportunities:

1) Industrial Cultivation: Greenhouse technology, genetic advances, growth optimization techniques, and improved nutrient quality will all create optimal harvest environments. These advances will serve to create a more economically efficient, safe, and consistent set of products.

2) Laboratory & Testing: Safety, consistency, and results based testing of patients should be the norm for recreational and medicinal products. Just like with food, alcohol, and prescription medicine; there is a need for impartial product testing as well as patient results based examination.

3) Manufacturing & Derivatives: 41{f1d755e3d686d84b3fba3fb9da3bc25d6eb08724c18385fd50146d58c836a6dd} of the Cannabis industry today is made up of sales from extracted concentrates, edibles products, and other derivatives. Pharmaceutical grade products will pervade the MMJ industry within 5 years.

4) Web Presence Management: Branding and digital marketing by current Cannabis enterprise operators is limited and culturally segmented. From Social to your website, directory listings to reviews, your mobile visibility as well as engagement with the consumer; are all part of the digital strategy of today’s successful businesses.

5) Regulatory Compliance and Privacy Applications: Seed to sale tracking will expand. “Soil to Session” is actually the best way to ensure legal and safe consumption practices.

6) E-Commerce: Processing digital payments for Cannabis today is extremely rare. More common though, there has grown a market for all ancillary related products and accessories. Websites servicing these specific categories are abundant today and will grow and out innovate each other.

7) Mobile & On Demand: In today’s right now economy, the use of mobile for logistical, social, and productivity is at it’s highest. Cannabis is no different and must adhere to the standards of convenience tech in 2015.

8) Financial Technology & Payment Processing: The current regulatory climate makes lending and payments processing difficult, and most of the time nearly impossible. This creates extreme strains and hardships on businesses, which must overcome the collection and payments of vendor bills by cash as well limited borrowing options.

9) Advertising Technology: Data aggregation, retargeting, remarketing, and intelligent ad serving are the future of discrete and appropriate marketing techniques for the Cannabis consumer.

10) Cloud Computing: The norm currently exists as 1000’s of paper files in filing cabinets. Data driven decision-making and cloud operations are the inevitable evolution.

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Richard Lowe

Richard Lowe is a 14-year veteran of the financial sector with licenses as a commodity broker (Series 3) and investment advisor representative (IAR Series 65). Along with a focus on raising capital for the firms he was employed with, he also wrote and edited much of the content published by them. He holds a BA in Journalism from the University of Massachusetts. He has been a longtime advocate for marijuana legalization due to the social injustices associated with marijuana prohibition and the strong potential for the medicinal benefits of cannabis.

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