A Detailed Look at Israel’s Emerging Cannabis Tech Ventures
Most people don’t realize this important fact but Israel is amongst the first countries to legalized medical marijuana. It’s also one of the only three countries with a government-sponsored cannabis program. In fact, the Israel government recently took major steps towards legalizing the export of medical cannabis.
Additionally, Israel is set to become the world’s third-biggest exporter of medical cannabis, as the global market is set to reach $33 billion in the next seven years.
Israel’s government has estimated sales abroad would rake in $1.1 billion a year for the Middle Eastern country. The ‘Start-up Nation’ is establishing itself as a strong presence for medical cannabis research that is quickly evolving as a very lucrative industry, and while it is legal for medical purposes, the country still bans cannabis for recreational purposes.
A BRIGHT FUTURE AHEAD FOR ISRAEL CANNABIS INDUSTRY
The CannaTech conference held in Israel recently was attended by a number of high-profile speakers. Two noteworthy faces were Sharren Haskel, a prominent member of Prime Minister Benjamin Netanyahu’s right-wing party and Yuval Landschaft, the director of the Medical Cannabis Unit at Israel’s Ministry of Health.
These prominent government speakers emphasized the growing involvement of Israeli government in medical marijuana research and development. They also implied that such dedicated participation resulted in the country’s development as a global research destination for other companies and countries. Additionally, they mentioned that Israel has significantly increased the investment and entrepreneurship of people in Cannabis, hence created numerous employment opportunities as well.
BIGINTRO.co the content strategy agency that owns CannabisTechPR also recently held a Cannabis Tech Meetup which brought out 50 of Israel’s leading Cannabis tech entrepreneurs, analysts, growers and yes, consumers.
Let’s highlight some young and fresh companies blazing the way for the Israeli cannabis industry.
Leaf raised around USD 2 million to push forward their self-contained growing unit. This Cannabis growing unit allows the users to manage every aspect of cannabis raising; from the start to end, until the weed dries out of the bud. And the entire process occurs inside their refrigerator-like-grower that is climate controlled. Leaf also has a dedicated app that allows careful monitoring of vital facets like humidity, light, etc. to ensure proper quality of the plants.
Looking to grow cannabis at home? Seedo is a start-up company that is dedicated to helping people grow cannabis at home. Additionally, they are also equipped with an effective application which aims at simplifying the sprouting process of the greens from cutting or seeding to full bloom. Unlike Leaf, they are not merely for growing and raising cannabis; Seedo also helps in setting an array of herbs and veggies.
HiGrade‘s deep learning algorithms detect microscopic elements on the plant and assess the concentration of THC. Each photo snapped is instantly analyzed by their patent-pending algorithms to detect the plant’s health, quality, and potency. With thousands of global active users worldwide increasing monthly, their innovative system analyzes plants across different strains, cultivation methods and capturing devices.
Indorz was founded in 2016 by a group of professional SW & HW engineers and master growers, together they created a fundamentally new and innovative growing approach to analyze, automate and predict through the seed-to-flower cycle for indoor growing facilities. The Indorz team puts the focus back in optimizing each growing setup, maximizing yield and potency potential from seed all the way to harvest.
Gene 420 personalizes the cannabis experience based on the users DNA. Their aim is to make cannabis consumption safer and smarter for both medicinal & recreational uses.
Syqe developed a first-in-class pocket-sized selective-dose cannabis inhaler, poised to become the most advanced and versatile inhalation-based drug delivery platform of its kind. The Syqe Inhaler utilizes selective 100 microgram dosing precision, real-time thermal & flow controllers, lung interfacing and wireless connectivity. This new level of precision will allow patients to reach the coveted optimum balance between symptom relief and psychoactivity, regaining their quality of life. The platform is further comprised of proprietary raw drug Structural-Modification methods, uniquely identified preloaded cartridges and a linked clinical database serving physicians, researchers and healthcare entities.
Wingman, is a cannabis-enhancing blend that is free of additive ingredients and enriched with terpenes. This new blend is unique to the industry in that its saturated with terpenes, which have been proven to help improve the bioavailability of cannabis. This means patients can consume a tobacco-free treatment, while simultaneously smoking less cannabis and achieving the same effect.
Cannabics Pharmaceuticals inc.
Cannabics Pharmaceuticals Inc. (CNBX) is a US bio-pharma company dedicated to developing precision medicine personalized anti-cancer diagnostics and cannabis based treatments. It is based on Israeli R&D licensed by the Israeli Ministry of Health for scientific and clinical research. Cannabics novel technology pioneers the assimilation of precision medicine into Cannabinoid-based therapies for cancer patients, utilizing original, patented screening technologies, data management and artificial intelligence (AI).
CIITECH has developed a proprietary cannabis brand; ‘PROVACAN‘ and has formed a number of joint ventures to bring the best of Israeli cannabis and science and tech to the UK. Their mission is to remain at the forefront of cannabinoid research, working at the same lab used by Professor Mechoulam to unravel, study and report on the many potential benefits of cannabinoid.
The Wrap Up
With such ambitious startups and passionate Israeli cannapreneurs (entrepreneurs in the cannabis industry) in addition to the nation’s dedication to medical cannabis research, Israel might well deserve the title of ‘spark-up nation’.
50 American cannabis companies have already established R&D operations in Israel, as they seek to cash in on Israel’s expertise and escape the restrictive regulations in their own country.