This week, the National Cannabis Business Association held the sixth annual Cannabis Business Summit & Expo in San Jose, CA. More than 10,000 attendees visited 400 exhibitors and heard from 150 speakers, all talking Cannabis regulation, legalization and manufacturing.
The industry still faces many challenges, including federal illegality and the stigma that goes with that. But public opinion has been changing -- more than 60 percent of Americans support legalization, and it’s meant big business. Colorado and Washington have done more than a billion dollars in recreational sales. California even more - closer to three billion. Even Alaka generated around $40 million in sales.
But working with Cannabis and hemp is inherently difficult. Subtle differences in lighting, humidity, nutrition and even water purity have incredible impacts on total yield. The show in San Jose showcased cutting edge technology that stands to improve crop production and processing exponentially, as well as impact the entire process, from cultivation to manufacturing through distribution.
This industry is experiencing the kind of entrepreneurship that happens when you take a formerly elicit market and open it up for business. It also opens up a new job market.
Next year, the summit is moving to San Francisco. But if 2019 is any indication, the show and the industry it supports, will only continue to grow.