TechforCannEU announced to have secured funding of up to 2.5M EU from Malta Enterprise to establish the first European tech accelerator for the medical cannabis industry. The funding will go towards supporting start-up companies that are selected to participate in the TechforCannEU accelerator program.
“Our vision is to further develop an innovative medical cannabis ecosystem in Europe. The cannabis industry is stepping up into biotech, pharma and high-tech sectors and our goal is to identify and lead top-performing startups to success”, said Lilac Mandeles, CEO of TechforCannEU, an ex-pharma executive.
The allocated funds are subject to eligibility criteria and evaluation processes which will be managed by Malta Enterprise in collaboration with TechforCannEU. Malta Enterprise is the country’s economic development agency.
Established by two female co-founders Lilac Mandeles and Yona Cymerman – who are based in Israel, the TechforCannEU accelerator program allows entrepreneurs to reach milestones faster, with less error and expense, ultimately increasing their probability of commercial success.
Participants in the program receive funding and pilot their technology within an EU-GMP licensed facility in Malta. A transfer of knowledge from international academic & research institutions and industry experts includes business, regulations, science, strategy, marketing, and finance. Participants and alumni also join an invitation-only community, including in-person pitch events with a global network of partners, customers and investors.
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