BYND Cannasoft Enterprises Inc, Announces Submitting A Research And Development Plan Based On A Planned Budget Of $1.5M (Grant Of Up To $0.75M) To Develop CRM Software Combined With AI For The Medical Cannabis Industry
Portfolio Pulse from Benzinga Newsdesk
BYND Cannasoft Enterprises Inc. (NASDAQ:BCAN) has submitted a plan for developing CRM software with AI for the medical cannabis industry, with a budget of $1.5M and a potential grant of $0.75M from Israel's Innovation Authority. The Israeli Finance Ministry has increased the high-tech sector fund to $100M to support startups during wartime challenges. The high-tech sector is vital to Israel's economy, contributing 18% to the GDP and 50% to foreign exports. The grant decision is pending, and there is no assurance of its full amount being awarded.
November 16, 2023 | 1:47 pm
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BYND Cannasoft Enterprises Inc. is planning to develop CRM software with AI for the medical cannabis industry, supported by a potential grant of up to $0.75M from Israel's Innovation Authority. The company's involvement in the high-tech sector, which is crucial to Israel's economy, may benefit from the increased support during wartime challenges.
The news of BYND Cannasoft submitting a plan for a potentially grant-supported project could be seen positively by investors, as it demonstrates the company's proactive approach to innovation and growth within the medical cannabis industry. The increased support from the Israeli government for the high-tech sector, combined with the company's alignment with the grant criteria, suggests a favorable outlook for BYND Cannasoft. However, since the grant is not yet assured, the impact is positive but with moderate confidence.
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