Building a Business on the Back of Government Contracts: Q&A With BioTrackTHC’s Patrick Vo


BioTrackTHC has traveled an interesting path on its way to becoming one of the most prominent software firms serving the cannabis industry.

The Florida-based company works directly with roughly 1,300 cannabis companies, but the key to its recent success has been its ability to win state contracts for custom seed-to-sale tracking systems.

BioTrack first won Washington State’s contract over 21 other companies in 2013, netting $750,000 for the base deal and even more as part of a two-year maintenance agreement.

So far in 2015, the company has won similar contracts from New York, Illinois and New Mexico, which could bring in more than $1 million in additional revenue. The company has so far won four out of six state contracts awarded to software companies for seed-to-sale tracking systems.

But revenue is only one benefit: Landing government contracts has also helped BioTrack build credibility in the cannabis industry quickly, which in turn has helped the company land more retail customers.

Marijuana Business Daily spoke to Patrick Vo, BioTrack’s CEO, about government contracts and the ins and outs of cannabis tracking software. Following are his comments, edited for length and clarity.

Read John Schroyer’s interview:

Published by NCV Newswire
NCV Newswire
The NCV Newswire by New Cannabis Ventures aims to curate high quality content and information about leading cannabis companies to help our readers filter out the noise and to stay on top of the most important cannabis business news. The NCV Newswire is hand-curated by an editor and not automated in anyway. Have a confidential news tip? Get in touch.

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