Cannabis Capsules in Hawaii
History was made in Hawaii, when on Friday, April 29; the winners of the medical marijuana cultivation licenses were announced; instigating change and bringing forth a new era for their medicinal cannabis market. What began as a competitive race has resulted in eight triumphant winners who will set the tone for the future market in Hawaii.
These 8 winners were selected from over 60 participants who applied for a medical marijuana license. This license will give them full vertical integration, the right to cultivate and dispense medical cannabis throughout the state, While this greatly opens the market from its tightly constrained and limited past, the legislation change brings about a post caregiver era for the medical marijuana market of Hawaii.
Many people were unable to be considered for this license due to the strict requirements of the application process, thus weaning out the pool of participants.
For example, in order to apply, the applicant was required to have $1,000,000 of dedicated assets in a bank account to ensure that if they were selected, they would have the means to successfully meet the product demand influx. In addition, there was a $75,000 application fee and a $100,000 per dispensary fee. These three monetary prerequisites created a high barrier of entry, which had many repercussions – both positive and negative.
On the one hand, with such a high barrier, the standard cultivator who had produced for their patients for several years, cannot afford or meet these demanding requirements and is therefore automatically discounted from the competition. As a result, many people who could have benefited the industry with years of experience, were immediately eliminated from the application process; essentially banning them from the industry. On the contrary, setting such a high application barrier means that there is a guarantee that if you were selected, you would have the monetary funds required to be successful. It also ensures that there would be $1,000,000 spent solely towards the medical cannabis market. Interestingly enough, the requirement means that the 8 winners can all afford to advance the market and can put capsules into their initial production.
We carry several introductory filling machines that can have you up and running, producing cannabis capsules, in just a few short weeks. Capsules are crucial to the success of the medicinal cannabis market and are therefore an important product for all cultivators to utilize.CannabisCapsules has been contacted by many of the former applicants and is eager to see how the market will evolve. The 8 participants that were selected have the opportunity to use their allocated funds towards capsules: legitimizing and modernizing the market, which has relied on personal growers and caregivers, until now.
If you’re considering encapsulation for your cannabis product, whether in Hawaii or any other legal state, please give us a call. With over 35 years of encapsulation and formulation experience,CannabisCapsules has the expertise to help you go from concept to reality. Our services include a full range of customizable premium hard capsule products (including flavored capsules, flavored capsules for pets, and Enteric Capsules), formulation assistance, product branding, capsule machine selection and installation, staff training, and more. To learn more, give us a call at 1-800-852-9238 or email us at firstname.lastname@example.org