- May 11, 2018
- Posted by: Alton
- Category: Marijuana Business News
Namaste technology’ compelling technique to succeed in the cannabis industry.
The medical weed industry in Canada and internationally continues to be in its first stages, leaving a lot of room for new players with guidelines to determine first-mover advantage. One particular company is Namaste Systems Inc. (TSX.V: N) (OTCQB: NXTTF) (FRA: M5BQ), a varied cannabis technology company centered on expanding the best cannabis-related products and services for local and international marketplaces.
Working at the intersection of cannabis and e-commerce, Namaste Technology’ strategy is to create a digital ecosystem for medical cannabis patients round the world. Specifically, its NamasteMD app, which is Canada’s first medical pot telemedicine iphone app for patient acquisition on iPhone and Android os, gets the potential to even just how for patients to gain access to medical cannabis. Namaste’s management team is convinced so it can acquire patients faster and cheaper than some of its industry peers.
The existing process for medical pot patients is to go to a health care provider or center for an appointment. Once they get a medical file for cannabis, they can enroll with a qualified ACMP producer.
NamasteMD will simplify this technique by allowing patients to execute their assessment with a health care provider or nurse specialist by cellphone or computer. They’ll then possess the chance to go shopping for a number of cannabis products online through CannMart Inc., the business’s wholly had ACMPR medical cannabis “sales-only” permit.
Currently, a supplier of its Namaste Vapes in Canada and Brazil, Australian Vaporizers in Australia, and EveryoneDoesIt Vapes in the united kingdom, with a internationally varied business with a occurrence in over 25 countries, the business is creating a database of possible medical weed patients that are potential NamasteMD customers.
Namaste Technology CEO and Co-Founder, Sean Dollinger, clarified the business enterprise model, “NamasteMD attaches patients searching for vaporizers to doctors and nurse experts across Canada, allowing them to acquire medical cannabis lawfully through a accredited distributor.”
A Potential Online Cannabis Marketplace
With CannMart on the verge of obtaining its “sales-only” certificate, the NamasteMD iphone app gets the potential to give a readily available current market for newly received medical weed patients. Doctors and nurse professionals get an instrument for patient acquisition, and patients get a streamlined way to gain access to medical cannabis.
From the good technique for Namaste too. Says Dollinger, “Rather than taking customers and referring these to other certified vendors, which generally stock amazing products, CannMart retains those customers ‘in-house’ with a number of products in any way price points that provide customers maximum choice when they place their requests.”
Namaste’s short-term goal is to be Canada’s major online medical cannabis software industry, which is projected to attain $1.1 billion by 2020. There already are 130,000 patients in Canada’s medical cannabis system and the united states houses 36.2 million individuals, 42 % which have tried out cannabis at least one time, making the local upside clear.
An International System for Growth
The business’s international occurrence, via its vaping business, is a superb bottom part for customer acquisition.
Namaste’s sites because of its vaping products make over 600,000 regular monthly visits and also have helped it create a repository of over 1.5 million users. That is clearly a premium set of potential medical pot patients, and the one which just grows.
Dollinger responses, “The vape business is our original & most important business because that’s what produces traffic for web sites. In Britain, while other potential opponents are waiting around on the sidelines, we’re acquiring 300 to 500 clients a day. The theory is to keep to increase potential patient lists that is one able to day be monetized.”
The company’s included model for patient acquisition and cannabis sales in Canada is the one which is imminently repeatable in other appearing medical marijuana marketplaces. Dollinger reviews, “NamasteMD is a exclusive telemedicine portal, in order cannabis legalizes and the marketplace evolves, we’ll have the ability to introduce service in other places to convert website traffic into patients.”
Namaste is also planning itself for the likelihood of your recreational market in Canada later this season.
THE PROGRAM for the Recreational Market
Namaste COO and Co-Founder Kory Zelickson spoke lately to the business’s post-legalization strategy, “The amount of government authorities’ roll-out strategy for each and every province is yet to be identified or fully comprehended. We will explore opportunities to market online through recreational programs where relevant.”
In addition, the business recently released a collaboration with Infinite Labz that will concentrate entirely on cannabis natural oils and edibles. Acceptance from Health Canada is known as imminent for the products, which could possibly be accessible for both medical and recreational marketplaces.
The business’s long-term goal is to keep to innovate at the intersection between cannabis and e-commerce with machine learning and advanced technology. Within the short-term, it’ll give attention to leveraging data from existing directories and site traffic to create a global medical cannabis repository.
Using its vaping system business growing those directories on a regular basis, and CannMart on the verge of acquiring approval and heading are in Canada, Namaste Systems Inc. is put for a thrilling yr in this quickly evolving marketplace.
Source – Business Financial Post