- Medical cannabis
Strong co-operative alliances and a knowledge-sharing philosophy have been key to Cannavais setting the standard on how investors should work in overseas markets.
Cannavais is a fully-licensed vertically integrated medicinal cannabis venture invested in the Caribbean islands of St Vincent and the Grenadines. The company is working towards the development and production of medicinal cannabis products with a particular focus on how cannabis medicines can be appropriately administered to patients. As a foreign investor in the emerging cannabis sector, Cannavais attributes their early success to the strong relationships they have established with both the government and the islands’ traditional cultivators, and how they have earned the trust of the local community.
Two key approaches have helped Cannavais launch their successful overseas venture. The first is the operation of a co-operative initiative and the second is their openness to sharing knowledge and expertise with traditional cultivators. These methods offer a valuable perspective on how foreign investors can operate more effectively in emerging overseas markets.
Simon Robins, Head of PR and Marketing at Cannavais, explained, “We recognise the importance of the traditional cultivators, as well as the local community and government, and how all of us working together will be vital in building a long-term and successful local industry. This is why, through our co-operative initiative, we are offering local traditional cultivators the opportunity to partner with us.” By working together through a co-operative initiative, Cannavais will produce premium quality medicinal cannabis products for the international export market.
Through the co-operative strategy, Cannavais will help traditional cultivators enter licensed cultivation. Cultivators on the islands require a license from the Medicinal Cannabis Authority (MCA) to legally cultivate, manufacture, research and export cannabis and cannabis-based products. The MCA, the licensing authority established by the St Vincent and the Grenadines government, is responsible for regulating the cultivation, supply, possession, production and use of cannabis for medicinal purposes on the islands.
The co-operative partnership will ensure the traditional cultivators are rewarded with real credit for their skills and expertise, in a renumeration package they are familiar with, as well as adding value for them by providing ongoing support. This includes work-based training, assistance with security, imported genetics, land preparation, and the sharing of cultivation and harvesting knowledge. Additionally, Cannavais will assist with licensing and regulation and provide vital entry into international markets.
In addition to financial support that will help traditional cultivators secure compliant cultivation sites to legally cultivate medicinal cannabis, Cannavais is also providing valuable expertise and guidance on quality and plant genetics. The long history of cannabis cultivation in St Vincent means the origin of many cannabis seeds and plants is hard to determine. This, coupled with the natural hybridisation of cannabis plants, means it has previously been difficult to control the type and quality of cannabis plants being grown in the region. Cannavais wants to share their expertise on plant genetics to help traditional cultivators grow the varieties that will be most sought after by the medicinal cannabis market and therefore offer the highest value for international export. Quality genetics is of particular importance as the medicinal cannabis industry moves toward requiring specific strains of the cannabis plant to target specific diseases and medical conditions.