Jefferson launched a $2M fund aimed at industrial hemp research - Technical.ly Philly

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Apr. 30, 2019 9:56 am

Jefferson launched a $2M fund aimed at industrial hemp research

With funding from an Australian banker, the university will launch the Lambert Innovation Fund, a $2 million push into industrial hemp ventures from the Jefferson ecosystem.

In 2016, the couple gifted the university another $3 million towards medicinal cannabis and hemp research.

(Courtesy photo)

A $2 million gift from Australian philanthropist Barry Lambert, a former banker who’s currently the chairman of hemp tech company Ecofibre, will help Thomas Jefferson University establish an investment fund aimed at industrial hemp.

The contribution from Lambert and his wife, Joy, will set up the Lambert Innovation Fund within Jefferson’s Innovation Pillar, a push to invest in industrial cannabis companies from the Jefferson community.

“Barry Lambert likes to say that solving big problems requires courage and big ideas — that’s what this catalyst gift is all about,” said Stephen Klasko, president of Thomas Jefferson University and CEO of Jefferson Health. “The Lambert Innovation Fund will enable us to link ideas to impact.”

In 2016, the Lambert family made its first major gift to the institution: a $3 million check that helped establish the Lambert Center for the Study of Medicinal Cannabis and Hemp.

“Research into hemp is important to me and Joy, because we’ve seen it work,” said Barry Lambert. “Medicine derived from hemp gave relief to our granddaughter’s seizures, and our hope is that this new fund will provide resources and inspiration for innovations and products that help others.”

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