Kentucky Highlands announced Monday that a Louisville dental technology company has won its statewide business idea competition.
INVEN will receive $10,000 and free office space from Kentucky Highlands in London for a year. Runners-up were Lexington's Awesome Touch and Old Kentucky Logs of Corbin.
INVEN has developed and will market a dental tool to save time and lower risk during root canals. The three founders — Alex Frommeyer, Dan Dykes and Alex Curry — are graduates of the University of Louisville's J.B. Speed School of Engineering, according to a news release. The oldest among them, Frommeyer, is 23.
"INVEN LLC's award ... not only offers our company valuable exposure for our product and mission, but it will allow us to effectively finance a set of working prototypes that will enhance our ability to gain feedback and perform testing," Frommeyer said in a statement.
The first runner-up, Lexington's Awesome Touch, has developed touch-screen technology that allows people to interact with life-size devices such as visitor maps and retail shopping displays. The company will receive $5,000 and office space for six months.
The second runner-up, Old Kentucky Logs of Corbin, manufactures artificial concrete fireplace logs that look hand-hewn. The company will receive $2,500 and six months of free office space.
The announcement ends the three-phase competition, which also awarded prizes earlier for one-page business summaries and three- to six-page business plan synopses. Cash prizes totaled $30,000.