SAN FRANCISCO--(BUSINESS WIRE)--Today, DCM, an early stage global venture capital firm and the first investor on Sand Hill Road to invest in the cannabis market, announced its inaugural Cannabis Technology Summit, CannTech. The highly-curated event features CEOs from world-leading companies, and discussions on salient topics at the intersection of cannabis, technology, and capital. In addition, the event will feature a startup pitch competition with a $30,000 grand prize.
Following the legalization of recreational cannabis in Colorado in 2014, DCM became the first venture fund on Sand Hill Road to invest in the cannabis industry with their seed round investment in Eaze. Today, 34 states (including DC) have legalized medical or recreational adult-use cannabis, representing more than 50% of the US population. In 2018 alone, 21 states considered bills that would legalize recreational adult-use cannabis.
“The cannabis market is a booming industry and has captured the attention of tech innovators, bringing forth the evolution of a new segment: Cannabis Technology,” said David Chao, Co-Founder and Partner of DCM. “With all signs pointing to 2019 being the year of cannabis, we created CannTech to be a platform for emerging cannabis and technology professionals to come together to get funded, educated, and connected,” said Kyle Lui, Partner at DCM.
CannTech attendees will have the opportunity to learn from cannabis and technology CEOs and investors from companies including Eaze, Pax Labs, Dosist, K-Zen, Atrium, Rose Capital Partners, Poseidon Asset Management, Casa Verde, and Lime, with talks and panels on topics including regulation, branding, financing, and distribution.
CannTech welcomes any cannabis entrepreneur or technology startup in North America to apply to the pitch competition, from farm management software to CBD spritzers to synthetic cannabinoids. Applications are now open, and due by Wednesday, April 17. Shortlisted applicants will be invited to interview between Monday, April 22 and Monday, April 29, with finalists invited to attend and pitch the esteemed panel of judges for the chance to win the $30,000 grand prize.
CannTech will commence on May 7th from 11:30 am to 5:30 pm at The Pearl located at 601 19th Street, San Francisco; more information can be found at this link. DCM is offering a number of complimentary tickets to technology professionals and aspiring cannabis founders interested in learning more about the space. Those interested in attending the event can apply for an invite.
About CannTech
CannTech is DCM and Silicon Valley’s first annual technology summit focused on the cannabis industry. The event aims to accelerate the cannabis industry within the Bay Area and beyond by connecting startups and entrepreneurs with leading professionals in the cannabis and technology markets. This half-day event will feature major cannabis and technology CEOs and investors from companies including Eaze, Pax Labs, Dosist, K-Zen, Atrium, Rose Capital Partners, Poseidon Asset Management, Casa Verde, and Lime, with talks and panels on topics including regulation, branding, financing, and distribution. CannTech is also proud to feature a startup pitch competition with a $30,000 grand prize, judged by an esteemed group of leading CEOs, VCs and industry players.
CannTech will commence on May 7th from 11:30 am to 5:30 pm at The Pearl located at 601 19th Street, San Francisco. Event and submission information is available at canntech2019.com. To apply for the pitch competition apply here. To apply to attend the CannTech Summit apply here.
About DCM
DCM is a global venture capital firm based in Silicon Valley, Beijing, and Tokyo with nearly $4 billion under management. DCM has invested in more than 300 early stage technology companies across the United States and Asia, and provides hands-on operational guidance and a global network of business and financial resources. DCM has backed industry leading companies including 51job, 51Talk, 58.com, BitAuto, Dangdang, Fortinet, Happy Elements, Houchebang (ManBang), Musical.ly (TikTok), Kakao Talk, Sling Media, TanTan, Tuniu, Vipshop, UCloud and Uxin. DCM has also invested in exciting, up and coming startups such as Eaze, Lime, SoFi, Bill.com, Careem, Plenty, Hims, FiveStars, FuboTV, Maimai, Pony.ai, Freee, Kuaishou and SanSan.
