The 1937 Group Launches Cannabis Incubator Program to Help Social Equity Businesses

News provided by

The 1937 Group

Jan 03, 2023, 09:17 ET

The 1937 Group is the first vertically integrated, minority-owned cannabis company in Illinois, and wants to help other minority-owned teams obtain a Social Equity License

CHICAGO, Jan. 3, 2023 /PRNewswire/ -- The 1937 Group, Ltd. (www.the1937group.com), the first minority-owned, vertically-integrated cannabis company in Illinois, announced it is launching a Cannabis Incubator Program to help members of the community apply for a social equity license. The State of Illinois recently announced it is awarding 55 Social Equity Dispensary Licenses in 2023.

The Cannabis Incubator will offer a wide range of resources and assistance in collaboration with The 1937 Foundation and Parkway Dispensary. Assistance includes:

Business formation
Legal templates/agreements
Documentation review
Dispensary site selection
Standard Operating Procedures (SOPs)
Investor connections
Marketing planning and development
Supply chain strategy

"Currently, just 2% of current Illinois dispensaries are majority BIPOC owned. This statistic is more than just disheartening – it's disgraceful," said Ambrose Jackson, CEO of The 1937 Group. "Illinois has already recorded over $3 billion in recreational cannabis sales with almost zero minority representation," he added. "As a leading minority-owned cannabis company, our mission is to help change this paradigm and drive the betterment of our communities through representation and ownership in this privileged, corporate-dominated industry."

The Illinois Department of Financial and Professional Regulation (IDFPR) will begin accepting applications for 55 conditional cannabis dispensary licenses on Monday, January 30, 2023. The licenses will be distributed across 17 Bureau of Labor Statistics Regions.

To help social equity applicants get started, The 1937 Group is hosting a free informational webinar on Jan 4th at 5:30 PM CST. The webinar will provide an overview of the application and Social Equity criteria, plus valuable information and resources from individuals who have successfully navigated this complex process.

To register for the webinar, visit: https://bit.ly/1937GroupWebinar

About The 1937 Group:

The 1937 Group is the first minority-owned, vertically-integrated cannabis company ba sed in Chicago, and is committed to creating opportunities for others whose voices often get overlooked. The name "The 1937 Group" is inspired by the Marihuana Act of 1937, which fueled racial discrimination against Mexican-Americans and Blacks, and widespread imprisonment for what is now a legal activity in the majority of the United States.

Connect with The 1937 Group and its group of companies:

Website: www.the1937group.com

Facebook:
The 1937 Group
Helios Labs
Parkway Dispensary

Instagram:
@the1937group
@helios.labs
@parkwaydispensary

Media Contact:
The Innovation Agency
310-571-5592
[email protected]
www.inov8.us

SOURCE The 1937 Group