ORANGE COUNTY, Calif., Sept. 28, 2020 /PRNewswire/ -- My Green Network ("MyGN" or the "Company"), the first cannabis incubator/shared-manufacturing spaces in the country, announced today the top 12 finalists of Green Quest 2020. The finalists will be moving on to the second round of the selection process of the inaugural program. Green Quest provides minority-controlled companies a chance to win a fully paid for California Type-S manufacturing license and sponsored membership to My Green Network's facility in Orange County, California.
Among the applicants, 46% identified as African American, 39% identified as Hispanic and 15% identified as Asian. Additionally, the applicant pool was over 80% female.
"We are proud to be on the frontlines of breaking barriers to entry in the rapidly evolving cannabis marketplace," said My Green Network Chief Marketing Officer Maria Cordeiro. "It's pertinent now more than ever to create programs that support 'cultural cannabis,' a movement that celebrates diversity and innovation within the cannabis industry. Furthermore, our commitment to this program reflects the ethos behind our community."
In the second round, which began on September 18, candidates are required to submit a business plan to My Green Network that details their company, products, and strategy. The top candidates will be selected to undergo an interview process with My Green Networks' executive team.
In the next round of the decision process, My Green Network executives along with industry experts will be reviewing each candidate's business plan to reinvigorate the industry. Some examples of current My Green Network members, known as Green Leaders, include those that are bursting into the market with innovative, cultural products focusing on providing high-quality, consumer-focused products while furthering diversity in the space. These key qualities among others will be considered when selecting the final candidates that will move to the final round and public vote.
"As we close out the first round of Green Quest, we're blown away with the diversity, innovation, and passion exemplified by the applicants and aspiring cannabis entrepreneurs," said My Green Network Co-Founder & CEO James Shih. "As entrepreneurs ourselves who are proud of our Taiwanese heritage, we are thankful to everyone who applied for giving us this incredible opportunity to get to know you and your unique story, and the ability to inject culture and diversity into the cannabis industry. It is our belief that everyone who joined Green Quest will highlight the importance of actively creating access to the cannabis space."
Green Quest, launched by My Green Network in July, is a three-round selection process that requires hopeful participants to create and submit a business plan, introductory statement, and video that explains their passion for the industry. The third round will put the final candidates to a public vote. As a program requirement, the winning company or brand must be majority-controlled by a person of minority status.
About My Green Network
Founded by internationally recognized attorneys Ken Hwang and James Shih, and visionary Maria Cordeiro, My Green Network (MyGN) is the nation's first membership-based incubator cannabis company that offers members guaranteed licensing and business support services. MyGN is revolutionizing the industry by breaking traditional barriers to entry through its network of licensed manufacturing facilities, allowing start-up brands to process cannabis products such as topicals, edibles and beverages for legal distribution throughout California. The platform provides members with licensing opportunities at significantly decreased costs, access to a workplace to conduct manufacturing and support in the areas of sourcing, formulation, distribution, marketing, sales, legal, and more. Members experience up to a 95 percent reduction in start-up costs when compared to traditional licensing avenues.
For more information about the Company, please visit their website at: https://mygreennetwork.com/. Follow @OfficialGreenNetwork on Instagram to connect with leaders that are empowering our community.
SOURCE My Green Network (MyGN)