The green rush has caught the eyes of many would-be growers and entrepreneurs to the possibilities within the cannabis industry. Breaking into the industry is not as easy as it seems though. There is little room for errors since compliance is an especially time intensive and manual process. The fledgeling industry has numerous rules and regulations with little to no room for error. Enter Stash Stock, a Michigan-based cannabis tech company that works with growers and businesses to streamline processes to make the cannabis consumer experience safe, smart, and expedient. HoneyPot had the pleasure of talking to Mike Pavlak, one of the four founders, on what Stash Stock is all about.
Stash Stock uses radio-frequency identification software (RFID) based solutions for compliance in the cannabis industry. Due to the lack of federal regulations, different states use different systems to manage the industry. Many states use the Metric System, which gives every plant an RFID tag that updates the system on the position of the plant, it’s goal phase, etc.
Stash stock uses this existing framework for their software, CannaScanner, which allows users to track and update information regarding their inventory. The added benefit is that growers do not have to touch their plants as often, as the barcodes reduce risk of product contamination. Mike explained the benefits with a hypothetical scenario:
“You ask [someone], ‘Hey, move 30 plants from this room into that room.’ You think it’s no big deal. Then they move it into the wrong room. Okay, well how do you find those 30 plants now if they’re mixed into a room of 600? They send two or three people in there with a spreadsheet and they have to go one by one, look at them all and try and match it to the list. It’s an incredible waste of time.
Just that one mistake can cost you 40 hours of labor versus the technology [we have]. You can [search] which things you’re looking for, have access to proactive auditing, and [have the] ability to pick up everything that’s around within ten to fifteen feet; it makes that time go way down.”
Mike was a grower himself for eight years. That knowledge coupled with his fifteen years of IT experience helped him realize what growers actually want to do and how technology can help them achieve those goals. While other groups focus on compliance and data gathering, Stash Stock works with growers to help them do what they want and work to meet compliance standards.
Mike explains, “From a functionality standpoint, the ability to get things done correctly the first time is really worth the feedback. It’s eliminating all the chaos, all in one system that just works. I think a lot of people can really appreciate that. We’re always looking at partnerships.”
As a result of their grower/business centric ethos, businesses are flocking to Stash Stock. Seed-to-sales technology has evolved at such a rapid pace that Mike and his team have now surpassed groups that were mainstream just a few years ago. Stash Stock is quickly becoming the leading tech provider in cannabis.
One hurdle Stash Stock faces is state governments locking themselves into long term arrangements with a single tech provider. Due to the nature of cannabis regulations, license holders in medical cannabis are required by law for work with a particular company that government officials choose. This becomes an issue because technology that was mainstream in the past can quickly become obsolete in the coming years. States that remain flexible in their allowance of different tech providers for management companies and license holders give themselves the ability to work with the best seed to sale providers, such as Stash Stock.
Mike says in closing, “If you’re a new company, we’re going to give you the technology until you get through your first harvest so you can be successful without technology being a burden. It’s more than just sales. It’s really a long term partnership with these businesses. We want them to succeed. A lot of times, the solution is actually going to be cheaper to use. We try and make it a no brainer.”