World Ag Expo to include The Hemp Innovation Challenge – The Business Journal

Depending on who you ask, there are anywhere from 10,000 to 25,000 uses for hemp, from medicinal purposes to using it as the base for a concrete substitute.

At next year’s World Ag Expo, inventors and entrepreneurs will be able to offer their ideas on new uses for hemp, which became legal under U.S. law for the first time in decades thanks to passage of the latest U.S. Farm Bill in late 2018.

“The Hemp Innovation Challenge is designed to accelerate the future of the hemp industry by supporting entrepreneurs, researchers and students who are launching the most disruptive hemp innovations in the world,” states a press release from the International Agri-Center in Tulare, which puts on annually the Expo, the largest agricultural trade show in the world.

Next year’s expo on Feb. 11-13, 2020, will include the event’s first Hemp Pavilion, as many people are getting into hemp farming and processing, as it no longer is illegal under federal law as is its close cousin, marijuana.

Unlike marijuana, smoking or ingesting hemp will not get you high.

As for the contest, “Submissions are open to for-profits, non-profits and early stage-concepts or impact projects, including those aligned with the United Nations Sustainable Development Goals,” the press release states.”

“Submissions will come from hemp innovators in universities, companies, research institutes, barns and government agencies,” it continues, adding that finalists will be invited to the Expo to participate in the fast-pitch competition, in which the contestants will pitch their ideas to a group of experts and potential investors. 

Cash prizes will be awarded, though the amounts still are being decided. In addition, the entrants at the Expo will be able to network with executives in hemp-related businesses, as well as potential investors and mentors.

To enter the Hemp Innovation Challenge, go online to www.hempinnovationchallenge.org/hemp-innovation-submission/.

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