Innovation is essential, even in the new Cannabis sector

Column by Alex Lucena*

Innovation is a prerequisite for the longevity of any company or organization, regardless of its sector. This is no different for Cannabis, which is relatively new in our lives. I am referring here to the legal and global Cannabis market, whether for medicinal, industrial, or even adult/recreational use, as we know that the first records of humanity with the plant predate the Christian Era.    

To innovate, it is necessary to build creative solutions for old or current problems. However, when we talk about innovation, most of the time, we think of spending a lot of money and time investing in the development of disruptive technologies in the best “eureka” style.

To innovate, it is necessary to build creative solutions for old or current problems. However, when we talk about innovation, most of the time, we think of spending a lot of money and time investing in the development of disruptive technologies in the best “eureka” style. This term was supposedly first used by the Greek scientist Archimedes when he discovered, while taking a comfortable bath, a novel solution to a particular problem of King Hiero. By the way, it should be noted that all innovation results from solving a problem or challenge.    

In summary, disruptive innovations are those that come to revolutionize our lives, just as the steam train, Thomas Edison’s invention of the light bulb, the wheel, and later the automobile and the Internet did—perfect examples of technology that I had the privilege of witnessing being born up close and that I always mention in my lectures. Without a doubt, legal Cannabis, with all its therapeutic potential and ability to provide well-being to individuals and animals, its vast utilization by industry, and the evident benefits it brings to nature, joins this list. 

Without a doubt, legal Cannabis, with all its therapeutic potential and ability to provide well-being to individuals and animals, its vast utilization by industry, and the evident benefits it brings to nature, joins this list.

Disruptive innovations, such as the versatile use of Cannabis, represent a blue ocean for scientists and entrepreneurs. After all, everything is yet to be done, and this opens a pathway for another type of innovation, those considered incremental. These are usually much simpler solutions, but equally powerful in the pursuit of small, constant improvements in existing products, processes, and services, including those from other more mature market segments.  

The fact is that Brazil is beginning to take its first steps in the Cannabis sector, and no one better than entrepreneurs with their startups will know how to “ride the wave” of opportunities that lie ahead. Everything starts with a good idea, that’s true, but an idea is worth little (or nothing) without execution. Inventors are different from entrepreneurs. Ideas gain value when they are truly put into practice, prevailing, at the end of the day, the old maxim of 99 percent perspiration versus 1 percent inspiration. The path is never easy, and success is only achieved with a lot of hard work and resilience.  

Ideas gain value when they are truly put into practice, prevailing, at the end of the day, the old maxim of 99 percent perspiration versus 1 percent inspiration. The path is never easy, and success is only achieved with a lot of hard work and resilience.

And it is with this mindset every day that we developed The Green Hub, which, in addition to being a platform for connecting entrepreneurs (startups), academia, investors, government, industry, and associations, fundamentally aims to attract/motivate talented individuals with an innovative mindset engaged in the different spheres of the Cannabis ecosystem, generating business opportunities, value, and knowledge.  

*Alex Lucena is a partner and head of Innovation at The Green Hub and a columnist for Sechat

The opinions expressed in this article are personal and do not necessarily reflect the position of Sechat.

See other articles from our columnists: 

Alex Lucena 

- Innovation and entrepreneurship in the Cannabis industry (11/19/2020)

- Innovation is essential, even in the new Cannabis sector (12/17/20) 

Marcelo de Vita Grecco

- Hemp is a green revolution for the field and industry (10/29/2020)

- Hemp can provide a historic moment for Brazilian agribusiness (11/26/2020)

- Brazil needs to think like a country of action, but act like a country that thinks (12/10/2020)

Ricardo Ferreira

- From frustration to motivation (12/03/2020)

Paulo Jordão

- The role of portable cannabinoid measurement devices (12/08/2020)

Wilson Lessa

- The endocannabinoid system and anxiety disorders (12/15/2020)