INVEN, a Louisville dental healthcare technology company, has been named as the winner of Kentucky Highlands Investment Corp.’s statewide business idea competition.
INVEN has developed a dental tool used in root canals that will save time and lower risk for the procedure. INVEN will receive $10,000 and free office space for a year in Kentucky Highlands’ new LEED-certified business accelerator in London.
INVEN’s three founders – Alex Frommeyer, Dan Dykes and Alex Curry – are graduates of the University of Louisville’s J.B. Speed School of Engineering.
“Our end goal is to help dental professionals more efficiently and effectively perform root canals on patients,” said Frommeyer, who is the CEO and, at age 23, the oldest of the founders. “INVEN LLC’s award from the BIG (Business Innovation &?Growth)?Idea Competition 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 for our cutting-edge dental device. Also, the insight we gained from the judges, many of whom were investors and seasoned business owners, helped us to pinpoint weaknesses in our business model and areas we must continue to develop as we work toward commercialization.”
The first runner-up in the competition was Awesome Touch, of Lexington, which has created a proprietary optical touch-screen technology that enables users to interact with large, life-size interactive displays. The company started as an undergraduate engineering design project at the University of Kentucky and now focuses on delivering intuitive software for giant touch screens in public places, specializing in visitor maps, education and retail shopping. It will receive $5,000 and six months free rent in semi-private workspace.
The second runner-up was Old Kentucky Logs of Corbin, which manufactures artificial logs that have an antique, hand-hewn look but are made of concrete using molds of actual 150- year-old logs. The Corbin company will receive $2,500 and six months free rent in semi-private workspace.