The legal cannabis industry is rapidly expanding across the U.S.
In fact, it generated more than $8 billion in 2017 and is expected to surpass $23 billion by 2025, according to a 2018 industry report. This is critical information for investors, operators, and policymakers involved in the sector. Further, it’s information that is only available thanks to the rigorous studies conducted and compiled by New Frontier Data (NFD), an independent, technology-driven analytics company.
In part, NFD owes its success to its forward-thinking founder and CEO Giadha Aguirre de Carcer. She created NFD to provide unbiased, vetted, actionable intelligence to those operating, researching, or investing in the cannabis industry. Her leadership and vision have propelled her company into a global powerhouse, and their work will only increase in relevance as more markets enter the legal cannabis space. We had the opportunity to speak with de Carcer at the Cannabis World Congress & Business Exposition, where she revealed what’s next for the ground-breaking company.
How does New Frontier Data use technology to elevate the discussion around cannabis?
Giadha Aguirre de Carcer: We provide data analytics and high-level, actionable intelligence. In order to do that, we had to create a massive technological infrastructure. The data in the industry remains fragmented and disjointed due to regulation, and now that we cover not only the United States but the globe, we needed to adapt and technology is the solution for that.
Information flow and the speed of information flow will be critical to continue to see a more cohesive evolution of the industry in North America, where it started, but also across other regions such as Latin America, Europe, Asia Pacific, and even Africa.
What are some unique challenges cannabis companies are facing in regard to raising capital?
GC: Transparency. There are still those, especially in the mature financial space, who question what the plant’s future will really be and the socioeconomic impact of the plant. We have a very narrow pool of investment sources and the more we adopt sophisticated reporting practices and embrace the need for transparency in all things in our businesses, then we are more likely to continue to attract those mature investors that will help us continue to operate in this wonderful space.
What’s next for New Frontier Data?
GC: Global expansion. We are going to begin by establishing ourselves in Europe – we are covering all countries legalizing across the European Union. Followed very closely by our presence in Latin America, we’ll soon be in Panama as of February 2019. We also went to Sydney and Hong Kong this October, where we are beginning to have mature discussions around, not only cannabis and CBD production, but hemp’s advanced industrial applications, with some serious stakeholders across the region. So again, global expansion.
The post Cannabis: The Next Frontier of Data-Driven Business? appeared first on Innovation & Tech Today.