What is the Hemp Innovation Challenge?
The Hemp Innovation Challenge™ (HIC) is a global competition that was created to discover, amplify and celebrate hemp! HIC is designed to accelerate the optimal future of hemp through unique innovations by supporting farmers, hemp entrepreneurs, students, scientists, and others who are developing and launching the world’s most disruptive hemp innovations for people, profit, and the planet. A prize is awarded for the winning idea or innovation connected to hemp crop production, technology, products, or services that drive hemp growth and innovation into food, fuel, fiber, health care, plastics, air and space, waste, and sustainable and regenerative development, as a few examples. In addition to media exposure and a cash prize, winners receive professional strategic feedback about their innovation, business model, and go-to-market strategy. Finalists network with C-level executives, investors and mentors to assist in launching their innovations.
What is the history of the HIC?
Last year at the world's largest agricultural expo, 65 hemp innovators from 14 countries on 5 continents submitted their innovations. The field of students, entrepreneurs, farmers, inventors, and even a real rocket scientist was narrowed to 15 finalists. The top 4 presented to a panel of hemp industry expert judges at the World Ag Expo® in Tulare, California last February. Victory Hemp CEO Chad Rosen and his V70 Hemp Heart Protein Powder was selected as the winner. Chad said the win helped him raise capital and impress his food formulator customers and prospects.
Where and when will the next judged HIC be held?
We have decided to pause our plan to conduct the competition and judging for the Hemp Innovation Challenge™ (HIC) in person at the World Ag Expo® (WAE) this year (2022). The new Covid19 wave hit our team hard. We don’t want it to touch you or your family. Despite a necessary pause, our mission to DISCOVER, AMPLIFY, and CELEBRATE global hemp innovators and their innovations continues! Hemp will have a focus at WAE, we will continue to tell the world about HIC, and we will set our sights on a new path to a competition for later in 2022 or 2023. If you want to be involved with HIC, let us know! We are always looking for passionate, professional team members. Go to www.hempinnovation.space/contact-us and let us know what you can do! Stay in touch, keep innovating, and please make your health and your family's health a top priority for 2022.
How Do I Sponsor the HIC 2.0?
We NEED sponsors! Please register on our Sponsors page today!
Innovators, Sponsors, and Team Members
How Do I Submit an Innovation?
Click Here to Submit an Innovation
Does it Cost to Apply?
No
Can I submit more than one innovation?
Yes
I heard you will have a ROLLING SELECTION process to choosing innovations, what does that mean?
It means the sooner you submit your innovation, the better the chance you have to win.
Must I be there to win?
No! If you are a finalist, we will allow you to make your pitch to the judges via remote internet link like Zoom or Google Hangout.
How will you protect my idea?
Protection is your job. The best defense is a good offense. Exposure due to the HIC may give you a market lead as a first mover. Just like Coca-Cola doesn’t share its recipe, you can talk about your innovation without explaining trade secrets. Patents and trademarks can help but speed to market may be better for you.
What is the best strategy to win the HIC?
if your innovation solves a real* problem in a cool** way or advances a challenging area, you will have a good chance to win!
*real – others are trying to solve the problem
**cool – elegant, cost-effective, creative, regenerative, addresses 1 or more UN Sustainable Development Goals
Can I apply with an innovation idea for a non-profit?
Yes! We encourage this. People, Profits, and Planet or “triple bottom line” firms are often B-corps or non-profits.
How much can I win?
Depends on our sponsor's generous donations.
What funding prospects will be at HIC?
We will invite angel investors, venture firms, private equity, family office, F500 venture executives, and investment bankers. Some foundations are acting like VC firms now and may be good funding sources for you. We will invite folks from foundations as well.
How mature must my innovation be?
It must fall into 1 of the 7 categories below:
Pre-Revenue
- Concept
- Proof of Concept
- Working Prototype
- Scalable Product – Ready to Launch
Post Revenue
- Launched < 1 year
- Launched > 1 year
- Profitable
Can I participate as both a sponsor and an innovator?
No. That would be a conflict of interest.
How can I optimize my sponsorship spend for the 2020 HIC?
a. Set goals for the event
b. Discuss with HIC organizers who want you to reach your goals for the event!
c. Prepare – connect with innovators aligned with your goals
d. Come to the event and play an active role
Why would I want to help HIC?
a. To be part of an exciting new movement in a rapidly growing new industry.
b. Meet great people.
c. Use your skills to make a difference.
d. Get known in the industry and potentially get a job in the hemp industry.
What does the HIC team need?
a. Sponsorship Sales
b. Graphic Design
c. Finding HIC Participants
d. Event Support