HempStreet, a research to retail company in the ayurvedic cannabis sector, has received a grant of about Rs 50 lakh from the Government of India for research on cannabis. With this, the company will do research and development work about the use of cannabis in Ayurvedic medicines.
It is the first medical cannabis company that has received the Biotechnology Ignition Grant (BIG) from the Biotechnology Industry Research Assistance Council (BIRAC) of the Government of India for research on cannabis.
With this, the company will do research and development work about the use of cannabis in Ayurvedic medicines. With this, the company will do research and development work about the use of cannabis in Ayurvedic medicines.
Prior to this, Bharat Biotech have received grants from BIG, which were engaged in research and development work of Covid vaccine.
Abhishek Mohan, Co-Founder and CEO, HempStreet said, “This award and the grant validates our efforts to build a world-class organization and take the Indian medical cannabis industry to its rightful place. We want to be a Make in India brand for the world."
Hempstreet claims that it is conducting research with leading scientists of the country about the use of cannabis in the treatment of diseases that affect about 300 million Indians. HempStreet claims to have a network of over 220 Ayurvedic clinics serving around 60,000 doctors across the country and have served about 35 million patients.
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