The Long Island Capital Alliance brought together investors and businesses in the growing cannabis industry at a Cannabis Capital Forum in Melville Friday morning.
The forum hosted by LICA, a nonprofit capital formation and business development organization, featured presentations by companies building their business by exploring emerging trends in the burgeoning cannabis sector.
Among these trends, manufacturing and selling products infused with cannabidiol, or CBD — a nonpsychoactive compound derived from cannabis and believed by some users to have medicinal properties — is among the most popular.
Two of the six companies that presented their business plans to a panel of investors make or retail CBD products.
The presenting companies included two Long Island firms: Applied DNA Sciences of Stony Brook, a developer of DNA-focused technology for cannabis tracking, and Aromafloria of Huntington, a CBD health and beauty products business. A third local company that had been scheduled didn’t make a presentation.
Liz DeMaria, vice president of Aromafloria, said her company’s CBD-infused offerings lie at the intersection of