Through extensive industry consultation, this project aims to identify, scope and cost a range of trial options and negotiate co-investment from private and public research and development investors, including state governments.
Independent corporate advisory firm, Rounding Up, is working in conjunction with the Australian industrial hemp industry, an industrial hemp steering committee and AgriFutures Australia with the intent of a business case to facilitate the commencement of the variety trials in late 2020.
This project commenced in September 2019 and will conclude in August 2020 and incorporates a three phase approach:
- Consulting industry to build a commercially-centred and sustainable business plan for the Australian industry
- Designing an industry-sponsored Industrial Hemp Variety Trial Scheme scheme that enhances product knowledge and grower management practices
- Sourcing co-sponsorship and funding from government and private investors to actualise the business plan.
The project is now entering the draft design phase (following industry consultation which involved national workshops and conversations) will identify, scope and cost a range of variety trial options, gauge industry support and negotiate co-investment from public, private and not-for-profit sectors.
As part of the consultation process a national survey is being circulated to industry to further validate findings and the intended approach to the national trials.
Anyone with an interest in industrial hemp; from growers and processors, to researchers and enthusiasts, are invited to get involved in the project via the national survey.
A project update will be provided at the 2nd Australian Industrial Hemp Conference, along with a technical review of the trial model with a range of industry, research and commercial trial design experts. Preliminary data from the national survey will also be shared at the conference.