The cannabis industry in Canada is undergoing a rapid transformation, thanks to the leadership and innovation of women entrepreneurs, executives, and advocates. As the sector matures and expands, women are playing a vital role in creating a more diverse, inclusive, and sustainable future for cannabis.
The Challenges of Funding and Representation
One of the main barriers that women face in the cannabis industry is the lack of access to funding and representation. According to a report by The Arcview Group and National Cannabis Industry Association, women-owned businesses received only 2.2% of the total venture capital funding in the cannabis sector in 2018. This limits the opportunities and growth potential of women-led brands and initiatives.
Additionally, women are underrepresented in the executive and board positions of cannabis companies. A study by Marijuana Business Daily found that women held only 26.8% of executive roles in the cannabis industry in 2019, down from 36.8% in 2015. This indicates a persistent gender gap and a lack of diversity in the decision-making and policy-making processes of the sector.
The Opportunities for Collaboration and Innovation
Despite these challenges, women are finding ways to overcome them and create a lasting impact in the cannabis industry. By leveraging their skills, expertise, and networks, women are fostering collaboration, innovation, and mentorship among their peers and allies.
For instance, Women in Weed, a non-profit organization founded by Katie Pringle, aims to empower and celebrate women in the cannabis sector through events, education, and advocacy. The organization provides a platform for women to connect, learn, and support each other in their cannabis journeys.
Another example is Zyre Brands, a female-owned and operated cannabis company that produces premium cannabis-infused beverages. Audrey Wong, the CEO and founder of Zyre, is passionate about creating products that cater to the needs and preferences of women consumers. She says, “It’s not just about being woman-owned; it’s about creating a legacy that transcends gender, inspiring others to pursue their dreams in an industry that historically hasn’t been the most inclusive.”
The Impact of Women Leaders in Cannabis
The contributions of women leaders in the cannabis industry are not only beneficial for the sector, but also for the society at large. By creating products and services that are safe, regulated, and quality-controlled, women are enhancing the consumer experience and satisfaction. By advocating for social justice, equity, and education, women are addressing the stigma and misinformation around cannabis. By promoting sustainability, wellness, and community, women are improving the health and well-being of people and the planet.
Some of the notable women who are making a difference in the cannabis industry include:
- Jen Meyers, the CEO and founder of Zelca Ltd., a cannabis cultivation and processing company that focuses on organic and environmentally friendly practices.
- Trina Fraser, a partner at Brazeau Seller Law and a leading cannabis lawyer who advises clients on regulatory, licensing, and compliance matters.
- Abi Roach, the founder and owner of Hotbox Holdings, a cannabis lifestyle brand that operates a lounge, a cafe, a shop, and a farm.
- Hilary Black, the chief advocacy officer at Canopy Growth and the founder of the BC Compassion Club Society, the first medical cannabis dispensary in Canada.
- Rosy Mondin, the CEO of Quadron Cannatech and the executive director of the Cannabis Trade Alliance of Canada, a trade association that represents the interests of the cannabis industry.
These are just some of the many women who are trailblazing the cannabis industry in Canada and beyond. As the industry continues to evolve and grow, women will undoubtedly play a crucial role in shaping its future.
