An Israeli biomed group has launched an incubator for medical marijuana companies in order to connect them with relevant investors, according to a report from Israeli business publication, Globes.
The incubator, headed by the Shizim Group, will not directly invest in companies. Instead, they will offer mentoring and consultation services to help build relationships between companies and potential financiers.
Ofer Spottheim, the incubator’s general manager, says that many Israelis are already involved in the US industry and that Israel’s market is only poised to expand.
“In the state of Colorado… many Israelis are involved in this business, operating farms, greenhouses and the vending machines selling the product,” Spottheim said in the report. “Alongside Israelis, ultra-orthodox Jews are also involved in this business. There is no particular reason why Israelis and Jews are operating in this field — they just saw the opportunity and pursued it.”
The firm has already hosted an eight-meeting course for startups and plans on holding a conference next week. Raphael Mechoulam, an Israeli organic chemist who led research in the discovery of the endocannabinoid system, will be a guest at the event.
“We wish to form a network of connections between all people involved in this industry which will put Israel on the map,” Spottheim said.
Last week, Israel Agriculture Minister Uri Ariel announced plans for the country to export medical marijuana abroad.