Medical marijuana business prospects topic of Boston forum

As Massachusetts gears up for its entry into the medical marijuana business, entrepreneurs will meet Saturday for a forum on the new industry.

Hosted by the National Cannabis Industry Association, the all-day Northeast CannaBusiness Symposium will focus on education, with updates on federal and regional marijuana policy.

"Obviously the medical marijuana industry is getting started in Massachusetts, and there's a lot of activity in the Northeast overall, so Boston is a good location for talking about the region," said deputy director Taylor Left, whose group is based in Denver and Washington, D.C.

Other panel discussions at the event, which will be held at the Courtyard Boston Downtown, will focus on testing and extraction, a process used to remove oil from marijuana; building a medical marijuana business on strong principles; and securing financing.

The 3-year-old nonprofit association bills itself as the largest U.S. marijuana trade group and the only one representing related businesses at the national level. It has some 450 member businesses, including 14 based in Massachusetts, many of which provide ancillary services to the industry, Left said.

Denver's Dixie Elixirs & Edibles is an event sponsor. It produces 120 marijuana-infused products, including drinks, chocolates, mints and topical items such as salve, lotion and bath soak.

"We're coming there to do business," CEO Tripp Keber said. "It's an incredibly target-rich environment. I firmly believe that Dixie will be there in a meaningful way (and) ... will have Dixie's branded line of infused products in your market as the state allows."

Since interstate transport of its products is illegal, Dixie plans to sign a Massachusetts licensee to cultivate marijuana and manufacture and distribute its products here.

Portsmouth, N.H.-based Ideal 420 Technologies, another event sponsor that produces cultivated soil to grow marijuana, also hopes to tap the Bay State market.

"It's a beautiful model," CEO Richard Yost said. "The grower having the ability to really ramp up on the production side in Massachusetts is quite different from any other states."

Yost welcomes the chance to work with large-scale 
marijuana growers in his company's backyard.

"Now I can really put a lot of my science and technology to use," he said. "I can now have my plant scientists in Boston to work with growers in a tangible way."

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