New Jersey announces $10 million ‘cannabis equity’ grant for startup companies
Now, startups can procure some capital after New Jersey announced a $10 million program called the Cannabis Equity Grant.
The New Jersey Economic Development Authority says awardees can use the money for early-stage expenses and technical training.
Out of the $10 million allotted to the program, $6 million will go to social equity applicants — people with prior cannabis convictions and those who live in economically disadvantaged areas as defined by the state.