In an exciting collaboration with LIM College, the Industrial Hemp Research Foundation (IHRF) proudly presents a groundbreaking opportunity for students to revolutionize the hemp industry. The Industrial Hemp Challenge Prize is not just a competition; it’s a launchpad for the innovative minds shaping the future of sustainable industry.
The hemp fiber industry in the United States is beset by weak domestic supply chains, uneven product quality and heavy dependence on foreign imports. Domestic hemp processing and manufacturing tends to emphasize cannabinoid extraction and preparation of consumable products for internal consumption and topical use. Hemp fiber production and manufacturing receives comparatively little attention. Students at LIM College have a unique opportunity to contribute to development of a vibrant and innovative domestic hemp fiber industry.
LIM College is located in Manhattan, New York and was founded as a fashion and merchandising school. Recently, LIM College created graduate and undergraduate degree programs in the Business of Cannabis. In addition, LIM College plans to launch a Center for Cannabis Innovation (CCI) in 2024. CCI is envisioned as a center for entrepreneurs and educators to network, collaborate, and share ideas and information about hemp fiber technology, production and sales.
The Industrial Hemp Research Foundation is a Denver-based non-profit recognized as a tax-exempt public charity under Section 501c3 of the IRS Code. The IHRF is dedicated to promoting hemp-related education and academic research at institutions of higher learning in the United States.
LIM College and the IHRF share an interest and mission in educating the next generation of leaders in the American hemp industry.
In cooperation with LIM College, the IHRF is creating a competition for students. A cash prize will be awarded for an outstanding and innovative contribution to development of a domestic hemp fiber industry. Categories for submissions may include marketing, finance, economics, industrial organization or product development. Submissions will be judged by independent subject matter experts.
The competition is open to any student enrolled in a Business of Cannabis Degree program at LIM College. Submissions must be emailed or postmarked by November 1, 2024 in order to be considered.
The winner will be announced at an awards ceremony in New York City in late 2024.