You know how people in the business keep on telling you how all sorts of new types of sectors are being created all the time? Meet Steep Hill, a perfect example of new potential business.
Steep Hill is a lab that specialises in “testing and analysing medical and recreational marijuana to ensure compliance with public safety standards”.
As cannabis rapidly shifts towards becoming a commodity products (at least in the U.S), quality testing is no longer something needed to test the potency of a strain in order to win a Cannabis Cup. Sure, seed banks and farms will continue to require third party testing in order to improve their strains but, as the market expands and more people will have access to cannabis, state regulations will increase, and quality certifications will most likely become a basic requirement in order to sell to the public.
Steep Hill seems to believe this is the future as they are looking to expand their operations with a $5M round of limited shares. They have been operating since 2008 and currently have their own labs in Berkeley, Seattle and licensed labs in Denver and Las Vegas. They plan to open a new fully own lab in Albuquerque and a licensed one in Portland.
Check out this interview with Steel Hill CEO David Lampach where he tells you a lot of interesting things about why you should test quality factors in cannabis.
Image from MedicalJane