mCig Inc (OTCMKTS:MCIG) reported the introduction of the Ultimate Cannabis Innovation Awards. It is a competition to identify the most exciting and innovative new services, products and entrepreneurial talent in the budding cannabis industry. The event will be organized in New York City in October 2015.

The event

mCig reported that the content will be the first-ever game of its kind. It will provide cannabis entrepreneurs to come in limelight and approach capitalists and get access to branding experts, marketing, distribution, sales and operational channels. All these can help them to propel their business to the next level.

As per the deal, selected entrepreneurs may have an opportunity to sign a Master Distribution deal with mCig. They can use mCig’s growing team of salespeople to extend their service or product into the hands of consumers and wholesalers. The event is part of company’s ongoing commitment to discover and bring to market the most innovative products in the budding cannabis industry.

The efforts

mCig has associated with Erica Duignan Minnihan, MD of DreamIt Ventures to lead the contest. The team will ensure that entrants get maximum coverage within the investment community. It is of great significance as cannabis entrepreneurs have failed to get the financial help until now.

Erica Duignan Minnihan stated that in past, the venture capital group has refrained from making any investments in the cannabis industry. However, things are changing and cannabis industry is becoming more main stream. Therefore, the company intends to create a group to bring together talented entrepreneurs and incredible innovations with the marketing, financing and sales strengths that mCig can provide.

In last trading session, the stock price of mCig Inc (OTCMKTS:MCIG) gained more than 3% to close the trading session at $0.0560. The gains came at a share volume of 739,353 compared to average share volume of 946,941. The market cap stands at $15.29 million.