The Medicinal Cannabis Scheme by the Ministry of Health’s Medicinal Cannabis Agency has officially opened the market for cultivating and manufacturing Cannabidiol (or CBD for short) in New Zealand. Everything looks promising for the CBD market, but it does have some challenges. One of the main challenges is the fact that it’s still a very new market.
New markets are quite unstable and those without a solid medical cannabis marketing plan are bound to go bankrupt very quickly. However, some star players in the industry with unique solutions have proven that it’s possible to survive. Let’s check three of these CBD companies out!
Setek Therapeutics’ Cautious Approach
Mees says that “First mover advantage is good, but we’re more focused on doing it right than getting there first.” Setek Therapeutics has now filed an application for its cultivation license and mentions that various high net-worth New Zealanders have inquired regarding investment opportunities with their company.
Zeacann’s Goal to Own Intellectual Property
Medical staff can simply access the site, look at detailed information about medically registered cannabis commodities, and purchase them. Fowlie says that “We want to retain control in New Zealand and are currently seeking strategic partners who share our vision and passion for helping patients,” as well as open up the cannabis market for everyone.
In it for the Long Haul—the Hikurangi Cannabis Mentality
Hikurangi Cannabis was founded by a group of Marae representatives back in 2015. One of the co-founders, Caddie, mentions that he’s seen lots of new company founders show up to capitalise on the trend. He says that they seem to not have any intention of “…establishing a long-term business that is good for sick patients, shareholders, employees and the wider society."
The company has been in the CBD industry for about 5 years now, showing how much they’re committed to the industry. They’ve already established vital partnerships with local growers, international organisations, and researchers. Along with their experience and how long they’ve been in the business, these factors have certainly made Hikurangi as one of the most influential pioneers of the cannabis industry.
Whakaora’s Tech-Savvy Principles
Here at Whakaora we’ve chosen the high-tech approach and have several international partnerships in place to complete it. With this, our company is able to use some of the most advanced technology in the world today, to produce our products. We’ve opted to go with the most advanced aeroponic vertical farming technology available, using individual growth habitats to prevent the risk of any cross-contamination.
We’re also using a highly advanced AI (short for Artificial Intelligence) aptly named Sprout AI the smart grow system. Sprout AI automatically monitors and maintains the optimal growth environment to increase yield, shorter growth cycle, promote a pesticide/fungicide-free environment, while using less water and power than any other system.
Despite being unpredictable, as with any new market, it’s good to know that certain pioneers have stood the test of time. Using their different visions, approaches, and medical cannabis marketing plans, these companies have proven that it is possible to thrive in the industry. An industry that offers potential medicines and CBD products that can benefit our health.