Firm cultivating a synergy involving cannabis startups C
ultivated Synergy, a marijuana-focused co-working space in Denver’s River North neighborhood, serves as a hub for people starting up in the budding cannabis industry.
By hosting cannabis-infused yoga and dab-and-dine events where industry partners can network, as well as offering a collaborative office space for startups and small businesses, the company helps connect ancillary businesses to others in the industry seeking their products and services.
“Our business model has expanded from us being a good physical space, but now being a huge epicenter for the industry, so to speak, and we’ve just really built up a huge network,” said Connor Lux, co-founder and marketing director for Cultivated Synergy.
It currently has more than 60 members, representing almost 30 companies and brands. While some members don’t occupy actual office space, they’re still part of a bigger networking group that helps sponsor the many events.
One of its members is Ready Cannabis, a company licensing the concept of bowls prepacked with marijuana — think Keurigtype one-serving cups, but filled with pot rather than coffee. Founding member Clifford VanVoorhees rents time in the shared space and said he has made numerous connections at the office and through networking events.
By licensing his idea of prepackaged bowls, he remains in the ancillary sector, never handling cannabis. He takes care of
the administrative work such as finding proper packaging and labeling companies before presenting it to actual dispensaries that provide the plant material.
“(Through Cultivated Synergy) I found my packing company, a labeling company and marketing brand ambassador, so it’s like a one-stop shop, which is very valuable for a startup like mine,” VanVoorhees said.”
As his brand grows, he hopes to rent private office space at Cultivated Synergy, which ranges from $800 to $4,000 a month.
Another member is Denver Custom Packaging, a business that designs, manufactures and delivers packaging for marijuana products to the businesses that produce and distribute weed or infused edibles to dispensaries.
“In terms of business development, and potential client outreach, it’s a great place to be because of all the parties and events and co-working space,” Denver Custom Packaging business development manager Adam Brous said. “It all has to do with the relationships we’ve built and will continue to build.”
Lux said the 6,500square-foot, renovated warehouse in the heart of Denver’s arts district grew more from a need for event space rather than co-working.
Its most popular events include weekly weed yoga classes and monthly daband-dine events, where visitors can sample concentrates and eat cannabisinfused cuisine, which are sponsored by its many members and attract people from a variety of businesses in the industry.
In one of the most heavily saturated co-working cities in the country, the marijuana-centric get-togethers have provided the most value to its members and are what really sets it apart from other nearby spaces, Lux said.
“There’s probably 15 coworking spaces about a mile from here,” Lux said. “The competition is pretty fierce, but half the game is just getting people where they feel comfortable.”
Cultivated Synergy is looking to expand into the Seattle and Los Angeles markets within the year, and may open a space in Colorado Springs, Fort Collins or Boulder.
Lux said the new Colorado location will provide collaborative office space with flexible leases, but networking events are more in demand. Currently, people travel to Denver to participate in the industry confabs.
“We’ve found that beyond being here physically, people come to us because they know we know people and can get them the help they need,” Lux said. “The true mission of what we do is to really just help push the industry forward, and grow and develop.”
Hailey Mensik is a student at the Walter Cronkite School of Journalism and Mass Communication at Arizona State University.