Industrack was the only Minnesota firm among 12 companies to win in the finals of the Metropolitan Economic Development Association's "Meda Million Dollar Challenge" national business competition for minority entrepreneurs.
Plymouth-based Industrack, founded in 2008 by electrical engineer Raz Bajwa, provides integrated field-management software for plumbing, HVAC and electrical-service contractors, including customer relationship management, estimates, invoices dispatch and payment processing.
Industrack was awarded $100,000 of the $1.1 million in total prize money awarded in the annual competition.
Bajwa, 46, quit a corporate engineering job to start Industrack in 2008, as a different-type company.
"We have traction now," said Bajwa, the founder-owner. "We're heading toward $2 million in revenue this year. We have customers, and about 20 employees, mostly in operations.
"We're hiring salespeople. We're just starting to scale. Our goal is to be a $10 million revenue company in 10 years."
Industrack started out as a GPS-guided, fleet-tracking software company. Verizon signed on as a partner in 2014. But Verizon exited after buying a couple bigger companies in 2016.
"We had to reinvent the business plan," Bajwa said.
