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PHILADELPHIA (CBS) — Jefferson Hospital hosted its fourth-ever JAZ Tank contest Wednesday, a “Shark Tank”-like event in search of the best idea for an emerging product or service in the medical field.
This year’s contest was a bit different, with entrants around Philadelphia limited to a growing new medical field: medicinal cannabis.
JAZ Tank: CannaVATION tasked area medical students, Jefferson staff, students, and alumni, as well as general public entrants, with creating the top business proposal for a cannabis product or service, with the winner receiving a $10,000 cash in financial support, one free provisional or utility patent application and business or clinical consulting services.
The winning product was ARBR, a screening software to personalize medical cannabis led by Kit Poon, a Canadian pharmacist.
ARBR — pronounced “Arbor” — edged out We the People, a hemp-based biodegradable kitchen and bath towel, and Cannabiscope, an interactive wheel to assist in cannabis strain classification, for the top prize. Both runners up were eligible for additional prizes.
Eight finalists showcased their business in front of local investors Wednesday, including Lindy Snider — the daughter of late Flyers owner Ed Snider — who is an expert in the field.
Here are the eight business proposals, according to Jefferson Innovation.
- Hampons: Hemp-based tampons with cannabidiol to ease menstrual cramps.
- ARBR: Screening software to personalize medical cannabis.
- Cannabiscope: Interactive wheel to assist in cannabis strain classification.
- Hip to be Hemp: Biodegradable hemp-based heating and air conditioning filter.
- NJ Cannaclub: Scratch and sniff labels for cannabis to assist in the selection process.
- Semilla: Hemp and cannabis-infused sunflower seed butter and healthy edible alternatives.
- We the People: Biodegradable, hemp-based, mold-resistant kitchen and bath towels.
- Garden State: Automated solventless extraction system and medical cannabis edible dosing machine.
The medicinal cannabis business competition, was “aimed at supporting burgeoning entrepreneurs and small businesses in the rapidly growing field of medical cannabis and industrial hemp,” according to Jefferson Innovation.