Righting Wrongs: Gromentum Lab Propels Disproportionally Impacted Communities to Win in Cannabis Industry
Gromentum Lab announces the launch of a community-based, independent cannabis business accelerator for social equity. Gromentum Lab will serve under-resourced entrepreneurs most adversely impacted by the decades-old war on drugs. On the heels of Governor Pritzker’s formal signing of the Adult-Use Cannabis bill into law, the new venture is already preparing entrepreneurs to compete in the industry. July 20th marks Gromentum Lab’s first Business Development Workshop which will take place in Chicago and will be open to the public.
Illinois is the first state to seriously address the impact the war on drugs has had in specific communities. Gromentum Lab recognizes entrepreneur teams will need more than a business idea and waived licensing fees to make it in a competitive market.
Temporarily located in Pilsen, Gromentum Lab is poised to serve the community through its core sixteen-week accelerator program. The accelerator will provide technical assistance, professional development, business mentoring, networking opportunities, and access to capital. Social equity entrepreneurs are matched to experienced cannabis and local mentors to help develop their cannabis-related businesses as the industry takes off in Illinois.
Gromentum Lab starts its operations with its July 20th Business Development Workshop Series. Local industry experts and highly successful owners from other adult-use states will deliver prospective entrepreneurs deep-dive exposure to the cannabis industry in Illinois as well as idea generation around potential business concepts. Sign-up for time and location at www.gromentumlab.com/programs.
Gromentum Lab organized as an L3C, a structure bridging the gap between non-profit and for-profit investing that facilitates investments in socially beneficial, for-profit ventures where the production of income and the appreciation of property is not a significant purpose of the company.