To replace lost jobs and incomes, the economy needs entrepreneurs to fill the void with business startups. During the economic downturn a decade ago, the business startup rate fell and never fully recovered, which contributed to a slow recovery. Even before that, the startup rate had been trending down since the 1980s. That is troubling because startups play crucial roles in the economy. They create most net new jobs. They are a key source of innovation because new products are often pioneered by new companies. And they challenge dominant firms, which helps to restrain prices and expand consumer choices.
This report argues that state and local policymakers should slash regulatory barriers to startup businesses. State governments should repeal certificate of need requirements and minimum wage laws, liberalize occupational licensing and restaurant alcohol licensing, and fully legalize marijuana and hemp businesses. Local governments should reduce and simplify permitting and licensi
Post money valuation: $25 million
Biggest funding round of 2020: $1 million raised in a convertible note deal. The company said it is looking to raise Series A funding this year.
Total raised to date: $2 million
What the company does: Abstrax is a California-based research firm that creates terpene profiles active chemicals in the cannabis plant for use in isolates, vaporizers, or even as food and beverage additives.
Why investors like the company:
Panther Opportunity Fund s principal
Jordan Tritt says that Abstrax is pioneering consumer sensorial experiences in the cannabis industry. Their cutting edge research, development and formulations have the potential to revolutionize various consumer packaged goods products, he continued.