Deep Dive: The high hopes of the cannabis tech industry

According to analysts, the cannabis industry in Asia alone could be worth US$12.5 billion in 2024.

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While this estimate has spawned a number of startups hungry for a share of the potential pie, does it mean the region is in for a “green gold rush”? That depends on several factors, including whether a lot more countries will follow Thailand’s lead in legalizing cannabis, even if just for medical use.

On this month’s Deep Dive, Tech in Asia’s Joseph Gan discusses the Asian cannabis tech industry’s latent potential and whether it’s worth betting on.

Timecodes:

00:00 – Intro music
00:48 – Today’s topic: The cannabis tech industry
01:31 – The turning point when Thailand legalized marijuana for medical use and research
02:58 – A US$12.5 billion industry by 2024
03:31 – A cannabis tech startup based in Singapore?
05:25 – The players in the peripherals of the cannabis industry
07:48 – More lucrative than sugarcane, but there’s no telling when it will be legalized
11:15 – Is the US$12.5 billion number realistic?
12:13 – The challenges cannabis startups face
13:52 – The tough competition for a cannabis license in Thailand
15:20 – Pressures from the watching world
17:!2 – The impending problem of having to compete with the black market
19:36 – The wait-and-see approach
21:52 – The future of the cannabis tech industry
22:41 – Does Asia face a fragmented fate?

Download the full transcript here.

Featured reporter:

• Joseph Gan, a Tech in Asia reporter based in Singapore

Essential reading:

• Tackling a taboo: Cannabis tech on the rise in Asia

Episode Sponsor:

This year, the Tech in Asia Conference will explore the tech opportunities presented by Southeast Asia’s new golden age. To adjust to our new reality, we’re going virtual as we aim to bring you the most relevant insights into four areas: