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Texas entrepreneurs are asking for capital, and no one is calling them back. Houston entrepreneur Jerry Walters says he’s almost ready to launch a startup that will produce research, data and medicinal products from cannabinoids, a non-psychocative compound found in hemp plants. He has nearly every question in his supply chain answered: who will grow the plants, where he’ll process and extract the oils and which pharmacies will sell his products. Despite the promise of a bonanza from the state’s legalization of industrial hemp, a cousin of the marijuana producing cannabis plant, Walters and other entrepreneurs have quickly found that investors and banks they need to finance their enterprises are reluctant to take a chance on the new industry. Part of the reason is Texas regulators are several months from adopting rules under which this new industry would operate, but other uncertainties — as fundamental as how much a pound of hemp is worth — are keeping money on the sidelines. What this forecasts is an industry likely to grow far slower than backers of hemp legalization have envisioned. Will anyone fund Texas’ hemp industry? Entrepreneurs struggling to launch

thumbnail courtesy of houstonchronicle.com