0:00  
How do you guys make sales?

0:02  
Right now pretty much like through Instagram.

0:05  
 Right.

0:06  
Word of mouth.

0:07  
 Okay.

0:07  
 And and smaller scale markets markets and stuff like that. 

0:12  
You are listening to entrepreneurs in a new multibillion dollar industry. These business owners are taking part in an information session aimed at helping them flourish in everything to do with cannabis. There are about 10 new business owners here. They're part of a program led by Leaf Forward a new Canadian company which helps to jumpstart businesses in the cannabis industry. Alex Blumenstein is the co founder.

0:36  
Leaf Forward is the global launchpad for cannabis, cannabis startups. We are the builders of the cannabis startup ecosystem. We support businesses in a number of ways starting with opportunities for entrepreneurs to meet new people in the industry, and learn from industry leaders, also a cannabis business accelerator program, which means we invest in companies and we put them in a 12 week accelerator program where we help them grow their companies quickly. 

1:04  
Leaf Forward is the first of its kind in Canada. Blumenstein says the idea for a cannabis business incubator first came up in January 2017. Leaf Forward now regularly holds cannabis networking events and invest in the most compelling startups. Since its founding Leaf Forward has been approached by numerous cannabis entrepreneurs. They have directly worked with nearly 50 of them. Blumenstein comes from a business background and says he saw opportunity with marijuana legalization.

1:32  
I come from a background in public affairs worked with a number of regulated industries, land use ground transportation, tobacco airlines and a little bit of cannabis. When Justin Trudeau was elected, we saw some opportunity to to you know, it was becoming legalized want to get more involved in that, want to seize on that opportunity.

1:50  
Blumenstein was right, there is plenty of opportunity in the marijuana industry. Businesses are trying to jump all over it. We have all heard it in the news recently. Coca Cola may be considering a move into the growing cannabis market.

2:02  
The next time you're in Shoppers Drug Mart picking up your prescription and your other essentials, you could soon pick up some pot.

2:08  
Get this the Second Cup wants to open marijuana stores. They want to get into the pot business.

2:14  
In Canada alone. As of 2018, the marijuana industry is worth an estimated $31 billion, according to Bloomberg. The entrepreneurs at the Leaf Forward session here today are looking to get their share of the profits. All of them applied to receive investments from Leaf Forward and were approved. Leaf Forward gave each of them $50,000 to help jumpstart their businesses. Now they are being educated on business management.

2:37  
 Like what's that one slide that's gonna stand out or like what do you lead with? When you try to grab someone's attention about your business?

2:46  
One of the entrepreneurs attending the Leaf Forward session is an engineering graduate of Ryerson University. Joseph Fida came up with a business idea for cannabis production in a rather unexpected way during his time as a student.

2:58  
I grew up in an Italian family. So when I was young, I used always held my grandparents in the garden and when I came to the city, it was a big shock for me. So you know, as I was going through, I found that I was really missing the outdoors and stuff like that. So I decided to grow my own tropical fruit plants.

3:13  
Fida knew that in order to grow these plants indoors during the winter, he would need special supplies. So he turned to the same tools used to grow marijuana plants, but he quickly realized that the equipment needed was very expensive.

3:24  
I went and I looked online, and then I nearly passed out. Because the price of the growth lockers is insane. Being a student in chemical engineering, I'm like, well might as well put my education to work, so I figured I'll build my own. Now in the process of doing that, I found that the carbon filter was a recurring cost that you needed for these units. They removed the smell. I went this is very ineffective because you couldn't replace the carbon in it you had to replace the entire unit.

3:51  
So Fida created reusable carbon filters, a necessary component of any indoor growing operation. Fida formed a company, Blade Filters, but he needed someone to help make the company grow. So he turned to Leaf Forward and has since received an investment.

4:05  
Patenting and stuff like that always costs a lot, so we put money towards that. And of course, you know, the manufacturing, so for prototypes and stuff like that that kind of money would be helpful there. 

4:15  
Teachin Yelchin comes from a background in natural health care products. She too saw opportunity with the legalization of marijuana and founded a company called Earth Kisses Sky, the main product cannabis infused creams aimed at fighting pain. She says Leaf Forward's lessons in business management have helped her business develop. 

4:25  
Just how to value our business and come in with a clear confident approach to when we're asking for funds or to raise capital. These are all things that we may not have thought of before. Blumenstein says Leaf Forward is constantly reviewing applications from innovative entrepreneurs like the ones you've just heard from. He says he is always looking to develop the next big idea in the $31 billion Canadian marijuana industry. For RSJ Radio, I'm Ryan Rocca