Under the legislation, social equity license holders would qualify for mentorship programs and financial incentives to help get their business off the ground.
Introduced only a week ago after the death of George Floyd in Minneapolis, House Bill 20-1424 changes the term “accelerator licensee” to “social equity licensee” in the state’s marijuana regulations.
If signed by Gov. Jared Polis, a social equity licensee could participate in the state’s accelerator program, which provides mentorship opportunities and financial incentives for prospective cannabis entrepreneurs.
The idea behind the accelerator program: A social equity licensee would get hands-on training from a veteran retailer, processor or cultivator at the business owner’s facility.