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Marijuana extraction companies are among the industry leaders in innovation because the sector is continuously evolving.
To keep pace with the competition, extraction businesses should always be looking for new innovations as well as researching and developing new product types and processing methods.
“R&D keeps you relevant in the market,” Mark Micallef, head of operations at Exclusive Brands, a Michigan-based vertically integrated cannabis company, told Marijuana Business Magazine.
Micallef speaks from experience since his company makes concentrates such as shatter, wax and budder and fills its cartridges and vape pens in-house.
Industry stakeholders such as Micallef shared some innovation best practices with Marijuana Business Magazine, including:
- Take risks and don’t be afraid to make mistakes.
- Keep your product line fresh.
- Budget time and money for R&D.
- Test new products in-house.
Continue at: https://mjbizdaily.com/research-and-development-innovation-are-key-for-cannabis-companies-seeking-to-stay-relevant-with-consumers/
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