Amid the buzz of a burgeoning medical marijuana industry, Toronto tech companies are passing over pot for the potential windfall of marijuana software.
While medical marijuana growers are looking to cash in on an industry expected to reach $1.4 billion in Canada by 2024, these software companies have their eyes set on a U.S. market already worth $2.3 billion and global markets beyond that.
Ample Organics only launched its seed-to-sale software in January and already the company has doubled in size and landed Aphria Inc., one of only three publicly-traded licensed marijuana producers in Canada, as its newest client.
“That’s a huge one for us,” said president John Prentice, 30.
Even so, the Canadian market is “tiny” compared to the U.S., he said, and Ample Organics is pitching Oregon State to provide their entire state tracking system, with plans to officially launch in U.S. in May. The company also has “feet on the ground” in the Bahamas.
Grow One, another Toronto-based company promising to “manage virtually every aspect of your production,” also has its sights set south of the border.
– Read the entire article at Metro.