The Australian cannabis and hemp industry has emerged so far out of the smoke haze since the legalisation of medical marijuana two years ago, it now even has its own awards.

Winners of the first Cannabis Industry Awards, marking innovation and social progression in developing “this amazing plant”, will be announced on 1 August — and they will include a Doctor of the Year award.

Awards founder and cannabis entrepreneur Benjamin Jesse says the industry has been booming since doctors were given the green light to prescribe medicinal cannabis for treatment-resistant epilepsy, cancer, MS, HIV and end-of-life care.

The industry has grown so much, it is expected to eventually be worth $5 billion a year, Mr Jesse says.