Briefing

Lift & Co. expo panelists discuss potential for Canadian cannabis companies in coming global ‘talent crunch’

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Canada’s biggest cannabis expo kicked off today in Vancouver, where over 200 exhibitors flaunted flashy products and technologies used to grow, harvest, vape and ingest pot, and 100-plus speakers discussed the nascent business. In a panel on data and research in the space, Jennifer Lee, who leads consumer analytics in cannabis at Deloitte, raised the topic of Canadian talent in the global market. “There’s going to be a huge talent crunch around the world, and [other markets] are going to look to Canada to fill those gaps,” said Lee, referencing Israel’s cannabis innovation hub, which Deloitte works with and which Lee said is already poaching Canadians. (The Logic)

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Talking point: While Canada may be the expert in the sector now, that won’t necessarily last, said Lise Dellazizzo, VP of data and strategy at Lift & Co., which hosts the conference. “This is a budding industry, it’s highly chaotic, there’s very little reliable information,” she said. “You’ll see a prominent influx of business over this year. But if your business model is not strong enough to withstand the new [global] competition, there’s going to be significant consolidation.” She predicted that half of currently-existing companies will be folded into bigger ones within a year or two.