Medical cannabis provider Revolutionary Clinics announced it will establish a $4 million grant fund that will be evenly distributed between Economic Empowerment cannabis license holders and other minority-owned businesses in Cambridge, according to a press release.
This is part of Rev Clinics’ Aspire program, which was created to grow and support cannabis businesses in Massachusetts by providing subject matter expertise and financial benefits to Economic Empowerment and Social Equity license holders. So far, the Aspire program has helped Caroline’s Cannabis, Haverhill Stem LLC and Pure Oasis open their doors.
“The expansion of Aspire comes on the heels of the findings of a national study of cannabis equity programs by The Initiative, which found that funding and wrap-around services are the most needed forms of support to get EE cannabis business open,” the release read. “By opening the Aspire program beyond cannabis, Rev aims to foster a more representative business community in Cambridge.”
The first pair of $100,000 grants will be distributed in the next 30 days to cannabis entrepreneurs Leah Samura, CEO and co-owner of Yamba Boutique, a store set to open in Harvard Square, and Ivelise Rivera, owner and partner of Nuestra, LLC, a store coming to East Cambridge. The rest of the grants will be officially activated in September.
Read more at masslive.com.