Israel Could Grow Into A Global Cannabis Startup Superpower

[zachw]

 

Known for its dynamic tech startups, agricultural innovations, and security solutions, Israel could soon add cannabis powerhouse to the list, thanks to domestic efforts to decriminalize the drug… and a push to use it as a medical export.

 

Israel is already a leading global player in clinical testing and Israeli growers have been leveraging those clinical trials to produce new strains for decades. These growers have developed unique grow-how to deliver a medical grade product.

 

“Israeli growers have agreements with companies in USA, Canada, Czech Republic and Australia. Israel has the oldest and largest regulated medical cannabis programs in the world with over 22,000 registered patients. The Hebrew University holds a rich IP bank of cannabis patents. It is easier to conduct cannabis research and clinical studies in Israel than in any other country in the world,” said Saul Kaye, the founder of iCan and CannaTech, a yearly cannabis innovation and investor summit in Israel.

 

Governments and multinationals are currently flocking to Israel where clinical testing faces fewer hurdles.

 

“Israel is playing a large role in clinical trials and foreign governments and multinationals come to Israel for this purpose. In the US, the DEA does not allow for the transportation of raw materials. A company in New York cannot import enough raw cannabis to conduct the clinical trials,” said Dr. Tamir Gedo, the CEO of Breath of Life, a manufacturer of pharmacy grade API for companies looking to conduct clinical trials.

 

The country’s warm climate coupled with its accumulated know-how in all things agriculture and farming are fertile ground to transform the desert state into a player on the global medical marijuana market. Even though the UN’s 1961 Single Convention on Narcotic Drugs prevents the trafficking of narcotics, Israel has the ability to circumvent the convention by having the Medical Cannabis Unit of the Health Ministry turn itself into a national narcotics agency.

 

Regulatory conditions are also helping to sow the seeds for a cannabis culture, since the Ministry of Health is the only national FDA equivalent body that has publicly declared and accepted the benefits of cannabis. In fact, Israel has already approved a vast number of medical conditions for treatment with cannabis, including cancer, epilepsy, neurological conditions and MS.

 

“The Israeli government has started to understand the economic benefits of cannabis. I believe medical cannabis will be be bigger and more profitable than all the arms exports combined,” Gedo said.

 

Full article here.

[phaquetoo]

Good read zach!

 

Peace