But for all the growth in the legal marijuana market, experts say newbies land in Colorado with expectations for a bump-free ride.
"There's a belief that investors are writing checks left and right. And it's a false one," said Patrick Rea, co-founder and chief-executive of CanopyBoulder. "Cannabis doesn't get a free pass from the laws of economics that affect every business," he said.
Turns out hustling is hustling, in cannabis or in any other marketplace.
"There's building out due diligence packets, finding traction in the market, reaching more customers," Rea said.
For all the promise of the marijuana market, getting an investor to write a check is never easy — especially in a nascent market.
"Fundraising, particularly in cannabis, is a black box to new entrepreneurs. They don't realize how much time and effort it takes to secure funding, the concept of deal momentum," said Hofmeister, who also was a mentor for Techstars, which features accelerators around the globe.
And, oh yeah. There's tons of follow-up.
Just like in mobile or any other competitive space, launching a cannabis start-up means balancing fundraising while simultaneously building a product and service.
"You need to create a spreadsheet of potential investors, and follow up over and over," Hofmeister said. "It's a full-time job trying to raise money."