PHILADELPHIA (KYW Newsradio) -- Thomas Jefferson University played host this week to a cannabis invention competition that gave marijuana and hemp entrepreneurs a chance to pitch their businesses to a panel of investors.

"This is what Forbes calls the fastest growing industry sector in the U.S. over the next ten years," said Dr. Charles Pollack with Jefferson. 

Pollack says as they build up research into hemp and cannabis, they want find out what ways people are using the plants.

"It's very exciting to be part of the future of cannabis use, both medicinally and in terms of how it might impact other parts of our lives," he said.

Brianna Kicullen's company, We The People, won $5,000 to go towards their 100% hemp textile-based towels.

"We constructed the towel to be more absorbent than cotton," she explained, "and it's also better for the people and for the planet."

The "Shark Tank"-style competition had more than 50 applicants from all across North America.

Other startups included scratch and sniff labels for cannabis, and Hemp-based tampons with cannabidiol to ease menstrual cramps.