Vulcan Line Tools won the concept stage competition and $25,000, while Vendrix won the seed stage prize of $50,000.
Vulcan Line Tools produces the Wave Timer, which attaches to utility wires to measure sag, tension and temperature. Vendrix offers cards and software tailored for budgeting in the construction business.
Vulcan Line Tools is featured in this month’s issue of Business Alabama magazine.
“Alabama is going to be a great home for Vulcan Line Tools,” said Zac Young, founder of the company. “To all future applicants: be ready to work hard, take some constructive criticism for your company and be ready to learn a whole lot, because I sure have.”
Joe Turner, co-founder of Vendrix, said Alabama Launchpad not only helped his company financially, but also with name recognition.
“Launchpad helps you with marketing and networking opportunities with other people out in the industry to get your name out there,” he said.
Alabama Launchpad, a program of the Economic Development Partnership of Alabama, has funded 102 Alabama startups since its inception 15 years ago. Those companies have been awarded $5.6 million in funding through the competition.