Refining the psychedelic medicine industry is something that CEO David Nikzad has focused on with Emotional Intelligence Ventures (Ei.Ventures). The entrepreneur has turned a passion into a business opportunity, hoping to bring new solutions to people who could benefit from safe, natural solutions he first stumbled upon in Hawaii.
As Ei.Ventures strives to bring products to market, continued advances in the psychedelic medicine industry continue to fuel the team to be a trusted leader. Much work goes into making a dream a reality with a business like this, but Nikzad believes his team is up to the task.
The long research process
As great as psychedelic medicine sounds on paper, finding proper research on the subject matter is the most challenging part of the entire process. There have been a lot of companies that have gone in with high expectations in finding new solutions, only to come up short because they lacked the drive to research ways to be different from what is currently on the market.
Nikzad knew early on that with Ei.Ventures, he wanted to have solutions that were not just carbon copies of what is already (or about to be) on the market. Repackaged psychedelic medicine is not advancing what might hit the market in new areas. While a company can market something appearing different at first, it eventually becomes lost in the sea of solutions with mixed effectiveness.
Research does not just stop at the early stages of the development process. The right amount of research is crucial to meet and exceed any regulations in the industry. Rules are in place to ensure that consumers are safe with psychedelic medicine, and even if the process can take a long time, proper research speeds up the process as much as possible.
Easing up regulations in North America
Doing the research now is the key to success in North America later on. At least, that is what a Nikzad is hoping for. Lifted regulations in certain areas could set the tone for a more widespread release in the coming years. In particular, a lot of focus centers around Oregon in the United States. They are the state most open to psychedelic medicine in the lower 48. Canada is also moving forward to opening up regulated psychedelic medicine use soon, which could help influence other parts of the globe.
For a company to succeed in this intriguing industry, a serviceable plan must be in place sooner rather than later. No business wants to be caught sleeping at the wheel when a new set of regulations pass. Competition is inevitable, and Nikzad expects Ei.Ventures to be at the top from the get-go.
Oregon is almost guaranteed as the first state in the lower 48 states of the United States to fully allow psychedelic medication to hit the market. They have been at the forefront in easing up regulations on different types of drugs, so it makes sense that the most progressive state could be the one to open up the floodgates first.
Canada has been increasingly progressive in recent years as well. There is a lot of buzz surrounding regulations easing up in Canada in the next few years. If that initial release can go without any hiccups, it could be great news for the country. In turn, other countries will keep an eye on how everything goes.
No matter when regulations loosen, the key for Ei.Ventures involves proper positioning as the best in the industry, not necessarily the first or the cheapest. This leads to longer, more sustained success in the eyes of Nikzad. It is a similar approach he has used for other businesses.
Financing new ideas
New financing options have helped Ei.Ventures evolve into one of the more discussed companies working in this industry. In particular, different psychedelic medicine works by treating specific issues. Examples include Brain MANA helping with focus and better brain functioning, and Happy Sexy, which competes directly with existing sexual enhancement solutions. Effectiveness impacts success once these and other products from Ei.Ventures hit the market. Nikzad knows that all the hard work put into the development process is for nothing if early reviews are not favorable.
Ei.Ventures’ goal with the MANA collection of psychedelic medicine options is to offer something that covers all problems. With a suite of solutions, a person no longer has to rely on artificial solutions that could cause more harm than good. By helping one health problem, too many people end up hurting themselves in other ways.
Why David Nikzad’s track record matters
Anyone doubting Ei.Ventures and what it can achieve only needs to look at the level of success David Nikzad has achieved throughout his career. To date, he has invested in more than 100 companies, and his ability to identify startups in different categories makes him a unique type of talent.
The focus for Nikzad has always been on helping out the underdogs, as well as those who might not have sufficient funds to see a specific project through. Startup funding is becoming more of a challenge than ever before to get, and people with great ideas do not necessarily have the financial backing necessary from the beginning. Projects that slip through the cracks remain a major focus of Nikzad and, to a great extent, Ei.Ventures.
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