Lucy Xiaolu Wang

Project Title: Entrepreneurship in the Cannabis Market: Economic and Social Equity in an Evolving Ecosystem 

Although the cannabis industry has shown strong potential to contribute to economic recovery and job growth in the US, the factors determining success in this nascent market for entrepreneurs—especially those belonging to under-represented groups— remain unclear. The continually evolving roles and relationships of business owners in the cannabis ecosystem, as well as changing political and legal contexts, amount to an uncertain outlook for entrepreneurs. Prior studies on cannabis legalization mostly focus on the downstream impact of cannabis on consumers, but we know little about how the entrepreneurship ecosystem has evolved. This project fills the gap by examining key growth drivers and market frictions to provide the first systematic analysis of the evolving cannabis entrepreneurship ecosystem. In doing so, we will analyze how policy shapes the actions of and relationships between ecosystem participants, and thus influences both business success and social equity outcomes.