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European cannabis groups will consider innovation financing strategies

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A group of seven European cannabis organizations will consider strategies for funding innovative initiatives in a Web Talk Scheduled for Tuesday, July 5.

The webinar was launched by HempClub, a joint venture launched this month by Horizon Europe and Circular Bio-Based Europe, two EU-funded programmes. The project funds research and innovation to exploit hemp and other renewable resources for sustainable products, while aiming to increase competition among market participants.

The online event will provide recommendations and guidance on how to take advantage of partnership and funding opportunities and present successful case studies.

Infrastructure needed

“If the industry is to realize its true potential for economic development and sustainability, public and private funding is required to support innovative cannabis entrepreneurs and build the required infrastructure,” said Hana Gabrielova, CEO at Hempoint. A participant in the Czech cannabis group. “These entrepreneurs also need strong management skills to navigate the emerging industry and to align cannabis with the many promising industry sectors.”

The HempClub project, funded by the European Union’s COSME programme, brings together groups and associations operating in the bioeconomics, advanced manufacturing and cannabis production sectors to create value chains in the European Union for bio-applications and new business opportunities for primary producers and chemical companies.

The seven groups are: Green Chemistry Group in LombardyItalia; czech hemp cluster; ProduTechClusterPortugal; The Spring Group for the Italian Circular Bioeconomy; Standortangentur Tirol GmbH: Cluster Mechatronics TirolAustria; Ind-Agro-Poll, Romania; And the FedercanapaItalia.

Unique capabilities

“With its unique chemical properties, environmental benefits, high yield and wide range of applications, hemp is a valuable bioeconomy crop and contributes to achieving climate neutrality, although it remains a specialty crop in Europe,” the host organizations said.

The webinar is specifically designed for:

  • Improve cluster management through interdisciplinary training among at least 14 managers to achieve the Cluster Excellence Label for at least four clusters.
  • Strengthening groups by improving the portfolio of business support services. At least 14 new services will be developed involving at least 300 small and medium enterprises in the European Union.
  • Facilitate B2B and C2C cooperation to advance interregional strategies by identifying 20 new interregional cooperation projects and creating two value chains in the cannabis sector.
  • Organizing at least 80 short-term exchanges to promote cooperation and networking activities between European organizations.
  • Promote internationalization, technology and knowledge transfer.

The webinar next Tuesday is free and open to the public.

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