Cannabis Business Pitch Competition is sponsored by Colorado Office of Economic Development. Cannabis Business Pitch Competition The Cannabis Business Pitch Competition is a mentorship and funding opportunity for social equity cannabis businesses who have reached critical business development

Cannabis Business Pitch Competition | Colorado Office of Economic Development and International Trade 4. Cannabis Business Office 5.

Cannabis Business Pitch Competition Cannabis Business Pitch Competition The Cannabis Business Pitch Competition is a mentorship and funding opportunity for social equity cannabis businesses who have reached critical business development milestones and have demonstrated a readiness to seek external investments. > The Cannabis Business Pitch Competition is now closed.

**Amount:** Maximum $50,000, $75,000 or $100,000 **For:**Social Equity Licensed Cannabis Businesses **Phase 1 Application period:** Feb. 28 - March 31, 2025 **OEDIT division:**Cannabis Business Office **Eligible cannabis businesses must:** * Have 51% of the business owned by aSocial Equity Licensee(s) from the Colorado Marijuana Enforcement Division (beginning at the time of application and for 24 months after award disbursement).

* Have been awarded for a Regulated Business License from the Colorado Marijuana Enforcement Division and the local licensing authority or authorities where the business currently operates. *Note: social equity licensed cannabis brands that do not require regulated business licenses from the MED are also eligible. * Be in Good Standing with the Colorado Secretary of State.

* Provide all relevant documentation to demonstrate eligibility by the closing date of the Phase 1 grant application period. * Have been generating revenue since August 1, 2024 or prior, as demonstrated by a sales receipt or paid invoice demonstrating the business has accepted payment for their service or product.

* Demonstrate that the applicant has dedicated matching funds in the amount of $10,000 (10% of the maximum award) in their account prior to disbursement of the award. * All grant applicants and awardees must adhere to the CBO’s Code of Conduct. **Behavior that conflicts with the Code of Conduct may result in expulsion from the grant application process or the revocation of the grant award.

** * Applicants may only submit **one application for one business**. * Applicants who submit multiple applications will be asked to select the individual application they would like to be reviewed. * Applicants may not employ grant writers or use AI to assist in drafting their application.

### **Phased Application Process:** The Cannabis Business Office Pitch Competition will be administered in two distinct phases. **Phase 1:**Eligible social equity applicants submit online applications to the Cannabis Business Office for review. The Cannabis Business Office will conduct an independent review of eligible applications according to the published rubric and guidelines.

Competitors for Phase 2 will be announced by the end of April, 2025. Applicants do not need to have a pitch presentation created yet. If selected for Phase 2 of the program, applicants will have the opportunity to create pitch deck presentations with expert pitch deck advisors.

**Phase 2:**Competitors selected to participate in the pitch competition will receive one on one coaching sessions with pitch deck advisors to build or revise and prepare to present a pitch deck. Costs associated with these sessions will be covered by the CBO. Competitors will have six weeks to work with their assigned advisors to prepare for the pitch competition.

The competition will be held in person on June 20, 2025 in the Five Points neighborhood as part of a larger OEDIT agency-wide event celebrating small business owners. Competitors will have an assigned time to present their pitch deck for three minutes in front of a panel of independent judges. Judges will score and deliberate on each competitor’s pitch.

The competitors with the top scores from the judges will receive grant awards in the amount of $100,000, $75,000, and $50,000, for first, second, and third place awards, respectively. ### **Program Participation Requirements:** * All grant applicants must agree to participate in multiple one on one coaching sessions with a pitch deck advisor on pitch deck development and presentation between May 1 and June 13, 2025.

The costs associated with the coaching sessions will be covered by the Cannabis Business Office. * All applicants must agree to be available to participate in the pitch competition on June 20, 2025 in Denver, Colorado in person should their application be selected to participate in Phase 2 of the application process.

Applicants should complete the entire application process themselves, as is it a requirement that the submitted names match the names of the owner(s) qualifying as social equity licensees. Applicants may not use grant writers or AI to assist in writing their application. The application is mobile-friendly, though users may have the best experience when using a computer.

Applicants must submit the grant application before the deadline, so we recommend having the completed forms and information ready before you begin. ### **Phase 1 Required Application Materials:** * Certificate of Good Standing from the Colorado Secretary of State * Finding of Suitability Letter, Owner - SE (Social Equity License). * All MED Regulated Business License(s) associated with the business applying.

* All local authority Marijuana License(s) associated with the business applying. * Profit and loss statement January 1, 2024-December 31, 2024. * 2024 Tax returns (regardless of whether the business has officially submitted the return yet).

* Payroll from January 1, 2024-December 31, 2024 * Sales receipt or paid invoice demonstrating the business has been generating revenue on or prior to August 1, 2024. * Business Narrative response using the questions listed in the Business Narrative Rubric, (Google Doc) ### Steps to Participate: * Read through this program page to learn if you are eligible for the grant and can commit to the program requirements.

* Once the grant application period opens, submit the Phase 1 application. * The CBO will contact you if we need additional information. * Eligible applications will be reviewed by an independent review panel.

* The CBO will notify the applicants selected for Phase 2 by the end of April, 2025. * Selected applicants, also known as competitors, will begin their independent work with pitch deck advisors on May 1, 2025. * Competitors will present their pitch deck in person on June 20, 2025.

Each competitor will have an assigned time to pitch to a panel of judges. * Judges will score and rank the competitors. The top three competitors will receive grant awards, in the amount of First Place at $100,000, Second Place at $75,000, and Third Place at $50,000.

Grant recipients will be selected based on a competitive application process. Phase 1 of the pitch competition program application will be scored based on the Business Narrative rubric, (Google Doc) and points will be awarded to businesses that have reached critical business development milestones and have demonstrated a readiness to seek external investments. Applications should clearly define the use of funds tied to any grant award.

While formal quotes are not required in your application, it is beneficial to include items such as project overviews, estimated costs, and the benefit of utilizing the grant for the proposed project as requested by the prompts in the Business Narrative rubric, (Google Doc). Eligible project proposals must be geared towards generating growth or expansion for the business.

Examples of growth include, but are not limited to, efforts to increase revenue, expand operational capacity, improve operational efficiency, decrease operating expenses, or increase profit margins. Since potential award amounts for this grant are variable, include all costs associated with the project in the cost breakdown.

Write this proposal for the top tier award amount ($100,000) but understand that if you are awarded a lower tier of funding, you may need to revise your budget breakdown before grant dollars are disbursed. Please note that grant funds eligible for reimbursement must have occurred after the effective date of the purchase order for the grant award. Contact the CBO Program Manager with any questions.

_Because this is a pilot program, final details for the application process and scoring rubrics may be added or updated before the program opens. _ All grant applicants and awardees must adhere to the CBO’s Code of Conduct, (Google Doc). **Behavior that conflicts with the Code of Conduct, may result in expulsion from the grant application process or the revocation of the grant award.

** Awarded businesses must agree to provide documentation of how the funds were spent and any additional documentation required by the Cannabis Business Office. Awarded businesses will send reports on a timeline determined by the CBO about the development of the awarded project. Grant funds will be dispersed in multiple tranches.

Awarded businesses will receive the first tranche of the grant upon execution of the purchase agreement for the grant. The following tranches of the grant will be dispersed upon the CBO’s receipt and approval of documentation demonstrating the awardee has spent 100% of the previous tranche funds after the effective date of the grant purchase order agreement.

The CBO cannot accept receipts for funds spent prior to the effective date of the grant purchase order agreement. Please note that awarded **businesses will be required to provide proof of insurance coverage**. Contact the CBO Program Manager with any questions about insurance requirements.

**Please note that there may be tax implications to accepting this grant. ** We recommend that you consult a tax specialist to better inform you of your potential tax liability.

Submitted by [user:field_first_name] Senior Manager, Strategy & Special Projects CannaBusiness Foundations Technical Assistance CannaBusiness Growth Technical Assistance Marijuana Enforcement Division Social Equity License Marijuana Enforcement Division Licensing Information Colorado Office of Economic Development and International Trade (OEDIT) A Colorado Governor's Office state agency 1600 Broadway, Ste.

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