LA JOLLA, Calif.–Cannabis manufacturer CANNDESCENT has been chosen as a winner in the 2018 Red Herring Top 100 Startups in North America. The prestigious honor is one of several of the well-known Top 100 Awards given annually by media company Red Herring, which recognizes businesses globally.
CANNDESCENT is the first cannabis industry business to be awarded by Red Herring, and was scheduled to be presented with their award yesterday, June 19.
“When I heard Canndescent won the Top 100 Award, I had a simultaneous moment of elation and sadness,” CANNDESCENT Chief Executive Officer Adrian Sedlin told mgretailer.
“Naturally, we have gratitude for being recognized as a primary thought leader in the most disruptive industry on the planet,” he explained. “This said, there is still massive social injustice as it relates to cannabis, and we need to redouble our efforts to end prohibition. I just hope the continued mainstreaming and recognition of this award serves a greater good.”
Among many other criteria, Top 100 Startup Winners must be a technology/life sciences company, and not publicly listed on any exchanges.
Other criteria for selection include qualifiers like “disruptiveness of the [company’s] solution in its respective markets,” social contribution, growth rate, branding, market size, revenue, and global footprint, among others.
“While the Red Herring Top 100 award certainly recognizes Canndescent’s role as an innovator and disruptor, I really see this as a group achievement for the entire cannabis industry,” Sedlin continued. “As an industry, we’re disrupting business, society, culture, politics, health and leisure. Canndescent is just the tip of the spear, helping to improve public perception of the industry and end prohibition.”
CANNDESCENT, whose tagline is “The Art of Flower,” is a California-based producer that is an industry innovator in branding, as well as clean cultivation techniques used with their proprietary cannabis strains, grown in specialized indoor environments. Their unique processing method delivers flower to consumers that has been “untouched by human hands,” in a variety of strains that are labeled by their evocative effects, like Calm, Cruise, Create, Connect, and Charge.
Red Herring was founded in 1993, and is a subsidiary of Red Herring Research.