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Marijuana Startups Prosper as Larger Companies Avoid the Industry

CO MMJ

Leaf, a Colorado-based company, has created a marijuana grow refrigerator. It is a high-tech, self-contained unit with an internal webcam that lets growers watch their plants grow from anywhere.

The cost of the fridge is $3,000, according to USA Today. More than 1,000 of the fridges have been sold since it hit the market earlier this year. The fridge is designed to look like a stylish cabinet.

Jonathan Ofir, CEO of Leaf, said, “We started small there and then it kept growing, literally and figuratively.”

Also making news in Colorado marijuana technology is MassRoots, the marijuana-themed social media platform. The social media network now has 1-million registered users. It’s also been added back to the Google Play list of apps. Consider MassRoots is like the Yelp for the marijuana industry. MassRoots has had a bit of trouble with both Apple and Google Play in regards to maintaining download availability.

Isaac Dietric, CEO of MassRoots, said, “That’s the nature of the marijuana industry – facing challenges that no other business has to face.”

Colorado researcher Jon Cooper is working to develop a consistent process for extracting specific compounds from the marijuana plant. His team of scientists and researchers are perfecting a water-soluble marijuana extract that is a fast-acting option with more consistent effects.

Cooper said, “The big companies, the people you’d expect to be filing the patents, they can’t play right now. There’s an opportunity for us to make a huge impact.”

Colorado continues to be a focal point for marijuana technology innovation.