Santa Fe Innovates to hold seminar for recreational marijuana entrepreneurs | Business
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Santa Fe Innovates to hold seminar for recreational marijuana entrepreneurs | Business

As New Mexico makes strides toward legal production and retail sales of recreational marijuana for adults 21 and older, the Santa Fe Innovates business accelerator is holding a free Zoom seminar next week aimed at offering insights to entrepreneurs planning to start a cannabis business.

Santa Fe Innovates founder Jon Mertz is bringing in Greg Huffaker III, director of client services at Canna Advisors, a Boulder, Colo., business that has advised cannabis entrepreneurs since 2013, when Colorado became the first state to allow recreational marijuana.

Huffaker is a Santa Fe native.

The 90-minute session, which starts at noon Tuesday, will provide an overview of the cannabis market, offer details on the trends and risks of starting a cannabis business and highlight opportunities specific to New Mexico.

“We will address what it really takes to start a cannabis business,” Mertz said. “We want entrepreneurs to go in with their eyes open. We want to give them a little head start on how to start a business. We want to get people some market knowledge.”

Government regulations for the commercial cannabis industry are still being written, with a deadline for the first retail shops to open by April.

Santa Fe Innovates launched in March 2020 as a business accelerator that so far has offered two six-week entrepreneurial boot camps to help entrepreneurs craft a business plan.

The first two events involved 22 entrepreneurs. A third likely will be held in early October, Mertz said.