Recently Microsoft became the first major corporation to enter the emerging legal cannabis industry. And while there won’t be big marijuana plants growing at Microsoft’s Washington headquarters, the move is a huge one nonetheless.
The tech behemoth has partnered with KIND Financial to help market the latter’s Agrisoft, a “seed-to-sale” tracking software for use by marijuana retailers, growers and processors. While this doesn’t seem like a big deal to some, it is big for several reasons.
The most important thing this news has done is become news in the first place. Stories like this one are shared to the far reaches of the Internet, showing corporations all over the globe that there might actually be something to this legal marijuana industry, an industry they haven’t really paid much attention to before. This, in turn, will bring something the cannabis industry needs: capital investment.
There is a lot of money to be made from legal cannabis, but the profit comes second; investment always comes first as buildings, equipment, product and employees – not to mention licensing fees, etc. – all need to be bought/paid before the first seed is planted.
In theory much of this investment money would come from loans, but most banks won’t touch the industry with the proverbial “ten-foot pole.” So those with money to invest must see the industry as a viable one, not just some hole to throw their money down.
With the uncertainty surrounding the cannabis industry because of differing state laws and overreaching federal laws, it is critical that established companies take an interest in this emerging industry to help it grow until there is more uniformity when it comes to regulations.
Companies like Microsoft can help tremendously in making that happen.