Sira Naturals Launching Small Business 'Accelerator' for Massachusetts Medical Cannabis Entrepreneurs
Medical cannabis business Sira Naturals is planning a transition to the imminent adult-use market in Massachusetts, but its executive staff hasn’t forgotten its roots. As the vertically-integrated company looks ahead, CEO Michael Dundas is taking the opportunity to lend a helping hand to upstart entrepreneurs hoping to gain a foothold in the commonwealth’s rapidly expanding cannabis industry.
Dundas and his team are setting up a small business “accelerator” that will provide commercial-grade equipment, manufacturing space and a supply of Sira’s own cannabis oil to prospective operators interested in fine-tuning and scaling their infused product development. Business owners will be able to use Sira’s raw oil to experiment with dosing and consistency in their own product development. This accelerator is the first such experiment in the U.S., Dundas asserts.
The small business accelerator will feature a three-month program that includes executive mentorship, leadership skills training and general Massachusetts cannabis business advice that Sira’s team earned “through a lot of hard work and a lot of good luck,” Dundas says. He’s hoping to impart some of that hard work and good luck onto a future generation of new cannabis businesses in Massachusetts.
Now that the Cannabis Control Commission will be issuing a broader array of license types under new adult-use regulations, Dundas says there’s an opportunity to lift up smaller operations who may be going for, say, a craft cannabis cooperative license or a microbusiness license. (Microbusiness license holders may operate only a Tier-1 or Tier-2 cultivation facility, a 1,000-sq.-ft. or 2,500-sq.-ft. canopy limit, respectively.)
The main goal is to give new businesses the sort of assistance that Dundas would have been thrilled to have when he and Sira (formerly known as Sage Naturals) were starting out. For those who are serious about the business, this new program will allow entrepreneurs a space