29A – Venture Concept No. 2

Adaptations from feedback and What’s Next?

Opportunity

As far back as has been recorded, cannabis and the United States has had a contentious relationship. From being required to grow on every farm back in the 1600’s, to being criminalized by President Nixon in the 1970’s, this plant has seen its share of highs and lows, no pun intended. While criminalizing weed use may have fit political agendas of that time, it did not work to decrease its popularity. As of today, marijuana maintains a two thirds approval rating. It is this statistic that has the country moving closer and closer to legalization. Eleven states have approved it for recreational use, and thirty-three medicinally. Changes in attitude and opinions toward marijuana has led to a colossal revenue construct. As of 2019, one of the first states to legalize saw its highest-grossing revenue periods recorded. During April and May of that year, approximately 24 million was collected… each month! Fast forward to 2020 and marijuana’s immense popularity combined with the it is increasing income potential has seen the federal decriminalization debate resurge as a sort of political football. Some say we are one presidential endorsement away of full federal legalization.

With the continued changes in law comes a very significant adjustment period. I myself would never have imagined the likelihood of someone sitting on a bench smoking marijuana outside my local library. How do I explain all of this to a child? This truly is where my opportunity to enter the market has been created. The market for my product is defined demographically although the issue affects all levels of our society. The market segment I perceive to be most impacted by these new laws and forthcoming rampant use, would be that of middle aged / middle class families with small children. While my market also encapsulates marijuana connoisseurs, both recreationally and medicinally, the deepest impact would be felt by those with the highest political clout. I believe this to be true as some will feel marijuana use in public infringes on other’s constitutional rights of quiet enjoyment. Appealing to the largest voting block typically concerned with such constitutional issues I am hopeful will result in an increased awareness and counter reaction. I will also be reaching out to elected officials, so they are not blind sighted to my efforts. Having them aware at the outset of my plight may prove to be beneficial.  If nothing is done, marijuana use will face the same negative connotations and stereotyping that cigarette smoking does. Users will be ostracized which will make it more difficult for its market acceptance.

Innovation

The multi-billion-dollar cannabis industry has created many opportunities for support products. With this being true, I have yet to find any product that offers the ability to both remediating air quality and serve as a public relations advertisement. My idea the outdoor smoke remediation hub would do just this. While it is true ventilation does not eliminate all the toxins and chemical components associated with secondhand smoke, my device does remove the odors. For best visual interpretation, think part humidor / part bus shelter. My hub would be introduced into areas of city centers most congested with foot traffic. The device would model a bus shelter’s style and have accessibility from both the front and the rear. Much like the devices that deliver mists of water at Disney and other entertainment attractions, my device would be modified to have suction devices on both sides to collect exhaled marijuana smoke. The hub could be made from aluminum materials and outfitted with the suction/ purifying devices. The purified air would then be collected and introduced back into the atmosphere. These hub-like devices would be manufactured for state and local use. The device concept and manufacturing would occur locally once the prototype has been engineered. This prototype could also be engineered to include remote visual observation in order to protect users in this public space, as well as shielding from the elements. The hub program would also offer an app. Within the app you would be able to locate via GPS, hub locations along a route you may be travelling. This will also serve to remove random use while being in motion. The hub would cost in the area of $5,500 plus installation, and locales would be charged a monthly maintenance fee. It would be suggested to have these installed every 600 - 1200 feet in high trafficked areas.

Venture Concept

As indicated, the recent changes to legislation, have created both a market opportunity, and a problem. The problem is how do we contend with the odorous smell in congested areas? Marijuana unless it has changed much from when I was younger has a very pungent odor. These odors transfer easily to the clothing of users as well as their surroundings. With the advent of my innovation, there would be ways of remediating this nuisance. Users would be able to maintain anonymity from having it collect in their clothing, and less awkward moments of passing by someone full indulgence would be likely to occur. In resolving this pressing concern, my innovation by design also facilitates ease of market entry. These devices would be placed similarly to cigarette smoking stations. Those with respiratory issues would not feel their health is being jeopardized, and those with the propensity to smoke would have their semi private outlet.

Revenue would be created from those benefiting most from the industry’s legalization. Marijuana cultivators as well as the state taxing authorities would be responsible for funding. From both perspectives, the installation of these devices could be introduced as a public relations effort. The shelters can be made to have messages associated with safest use practices, hygienics, or any other messaging or advertising deemed appropriate. Marijuana cultivators would be encouraged to share in the cost of manufacturing, and as such would be allowed to have an allowable amount of branding for those hubs that they chose to adopt. Local business would appeal to local jurisdictions for support in making certain their individual strip centers are included in strategic planning decisions. All would be looked upon as positive steps for integration. I would be involved in applying my passion of social acceptability for those requiring marijuana use for medical purposes. Painting a picture of reconciled harmony amongst all involved would be my strongest resource.

After successful launching my product, my company would maintain the shelters much like a bank does an ATM or the local department of traffic outsources for its bus shelters. Fines would be levied for vandalism etc. Long term, I would hand off the maintenance to the local jurisdiction. I would however continue to manufacture the hubs and modify and outfit as needs change over time. Over time, I see a device/ hub family coming from this first option. These devices would be employed in an assortment of varying circumstances. Because of my initial success, I would then be called upon as a subject matter expert in other needs related to marijuana’s public acceptance.

Feedback

The level of feedback I received during the What’s Next? Blog entry proved to be very beneficial. In speaking with customers included in my current market segment I received advice such as:

1.      Making public officials aware of my product prior to consumer/ constituent outreach in order to build a bridge. It was suggested this may work more to my advantage than an adversarial approach.

2.      Adding modifications to the hub for element exposure, GPS locating, law enforcement visual monitoring, as well as adequate means for disposing of use related paraphernalia.

3.      Additionally, the suggestion was made to research other countries and states to see how well ventilation systems are working or if they had been introduced at all.

Changes Made

After the feedback received, I decided to add changes to my original opportunity and innovation. The cost of the hub increased as the features suggested seemed sound and made my product both safer and convenient. After researching Colorado, one of the first states to legalize marijuana use, I found there had been some descent to ventilation systems but only ones used indoors. Detractors noted studies which indicated ventilation systems do not remove the poisonous toxins found within secondhand smoke, and merely removed odors. I found this fact important to include. I updated my opportunity section to be clear on my products objectives and, it’s limitations. The adding of reaching out to public advocates and office holders for buy in at the outset was also updated. With these changes I feel I now have a superior product.