CannaKorp – World’s First Pod-based Vaporizer
CannaKorp is the first company to deliver cannabis in a single-use, pre-measured portion pack. This convenient and consistent system makes the experience more consumer-friendly. Similar to how single-serve coffee pods transformed the coffee market, CannaKorp is attracting both mainstream consumers new to medicinal cannabis as well as connoisseurs. Wisp Pods are fully recyclable (unlike Keurig coffee cups today) and have a peel off-cover to easily smell the product. The recyclable nature of the product is not only responsible, but it ranks highly in the value system of most cannabis users.
Wisp, the World’s First
Pod-Based Cannabis Vaporizer System
CannaKorp was born out of one man’s struggle to find an easy way to use medical cannabis. CannaKorp co-founder Michael Bourque became concerned about the side-effects of medicines he was prescribed for anxiety when he turned his attention to the potential benefits of marijuana. However, he found the process of using marijuana overwhelming and complex: from choosing what strain and dosage to use to deciding on the actual method to consume it.
Out of that frustration was born the novel idea of making a device that was simple, approachable to any user with a consistent experience every time. He and several colleagues were working on the idea when they met Dave Manly, a retired executive from Keurig Green Mountain. Dave was consulting with some local start-ups when he met the team. As Dave dug deeper, he saw many analogies to the business he helped grow at Keurig as one of the first 30 employees.
Standardizing Desired Moods & Experiences
The Wisp system used together with a single-use portion pack, the Wisp Pods, extracts the medically beneficial compounds more efficiently while simultaneously offering a much safer and enjoyable experience than other alternatives. As a patient once said, “you are taking this out of the dark and into the light.” CannaKorp plans to produce Wisp Pods representing at least 9 “varietals” more akin to the categorization consumers are familiar with in the wine industry (cabernets, chardonnays etc.) or coffee industry (light roast, dark etc.). The move toward standardizing desired moods and experiences, will allow for experiences such as “dusk” for nighttime, while allowing plenty of variation.
CannaKorp Presentation at Global Silicon Valley
Patents Filed with an Estimated Addressable
Market of 25 Million Adult Consumers
CannaKorp CEO James Winokur talks how design and technology is making cannabis mainstream and why his company employs the the Keurig model.
Watch “CANNAKORP CEO ON THE ‘KEURIG” OF WEED VAPORIZERS” on Cheddar. Cheddar broadcasts live daily from Post 10 on the floor of the New York Stock Exchange, NASDAQ Marketsite, and the Flatiron Building.
Serviceable Available Market
With a multi-year plan to rollout its product with partners in jurisdictions where marijuana is legal, CannaKorp believes their addressable market includes 25 million users – 20 million adults in legal U.S. States, 3.3 million adults in Canada and 2.6 million Australia. The ability to service consumers will ramp up over the first few years presuming a learning curve for CannaKorp and its partners to acquire consumers and master the automated packaging process.
Intellectual Property Protection
CannaKorp has filed patents on the Wisp, the Wisp Cups and the interaction of the two for both design and utility. This was the same general intellectual property (IP) methodology utilized by Keurig and was done with Wolf Greenfield, the same Intellectual Property attorneys the team used in the past.
CannaKorp’s Products Can Be Sold Nationwide
CannaKorp does not grow or sell marijuana and thus avoids a great deal of regulatory issues and risks. CannaKorp’s revenue primarily derives from royalties paid by growers selling Wisp Cups. As such, CannaKorp’s products can be sold nationwide in any states which have legalized some form of cannabis consumption (as well as in other countries such as Canada and Australia).
An Experienced Management Team
Dave Manly – Chairman
Dave has over 35 years of experience creating and driving consumer and investor value behind some of America’s most cherished brands. Dave’s career spans Marketing, Sales, E-commerce and General Management. Most recently prior to joining CannaKorp, Dave was one of the senior executives at Keurig/Green Mountain (NASDQ: GMCR) that revolutionized single cup coffee brewing in North America. As Senior VP/General Manager of both the Digital (e-commerce) and Away From Home Divisions Dave helped drive Keurig from <$50 million in revenue to over $5 billion delivering extraordinary shareholder value. Dave retired from Keurig in Fall, 2014. Dave holds a BA from DePauw University and an MBA from Purdue’s Krannert Graduate School of Management.
James Winokur – CEO and Co-Founder
Also acting as Chief Operating Officer, James has responsibility for Finance, Sales & Marketing, and Business Development. James is a seasoned entrepreneurial leader with extensive experience in managing global teams in the areas of sales, marketing and support. Prior to CannaKorp, James served as Senior Director of Marketing and Business Development at PTC, a global software company, responsible for $700 million of PTC’s $1.3 billion in revenues. James was previously the Co-owner and General Manager of several Culligan Water Conditioning franchises throughout New England. James earned his BA and MBA from Boston College.
Michael Bourque – Chief of Innovation and Co-Founder
Michael is the inventor of the Wips system and is responsible for future innovation at CannaKorp. Michael is an insatiable inventor who balances idea creation with critical analysis, modeling and testing his innovations until they exceed his expectations in terms of performance and usability. Before founding CannaKorp, Michael served in various capacities at PTC, a $1.3 billion global software company. Over a period of 14 years, he worked as manager of quality assurance, product definition, director of two product development groups, and finally vice president of PTC University where he managed global teams in India, Israel, China, the UK, and the US. Prior to PTC, Michael was a machinist and computer robotic programmer for 12 years at MIT’s famed Lincoln Laboratory.
Ian Tinkler – Chief Technology Officer
Ian leads the technology team responsible for bringing the Wisp system to market—including the Wisp vaporizer, Wisp Cup portion packs, and CannaMatic™ packaging lines. Ian was formerly VP Brewer Engineering at Keurig Green Mountain—joining Keurig’s engineering team in 2005 from Culligan Water Systems, where he served as Director of Research & Development. Ian has over 25 years of engineering experience and has served as Chief of Design for Electrodynamics and held senior leadership roles for Sundstrand Aerospace, including work on the B2 Bomber and Boeing 777. He holds an MBA from Rockford College and an HND Mechanical Engineering degree from Hatfield Polytechnic in England.
Jeremy Krause – VP of BizDev and Co-Founder
Jeremy is responsible for creating and maintaining relationships and partnerships with growers and dispensaries. Having played Division I soccer at Providence College, he understands the value of teamwork. Jeremy brings more than 15 years of experience in consulting, sales, and relationship building, to his role at CannaKorp. Previously, Jeremy served as Team Lead at Redfin Corporation responsible for expanding operations and sales in New England. Jeremy earned his B.S. in Finance from Providence College.
Greg James – VP of Sales, Marketing & Partners
Prior to joining CannaKorp, Greg co-founded Synchronal Corporation, a cloud-based software startup in the desktop storage and synchronization space, and also led the sales, marketing and general management activities at Proxy Networks. Previously Greg was a senior vice president at PTC, a Boston-based software company. Prior to joining PTC, Greg worked in both start ups and large organizations including: eAssist Global Solutions, Interactivebyte Inc., First Service Corporation, and Deloitte Consulting. He holds a Bachelor degree from the University of Toronto and a Masters degree from the University of Western Ontario
The Wisp consumer value proposition is very similar to Keurig
Keurig® is a registered trademark of Keurig Green Mountain, Inc.
Use of the Keurig trademark in this presentation is for example only. Keurig Green Mountain, Inc. has no affiliation with or interest in CannaKorp.
For more information about CannaKorp
please visit www.cannakorp.com.