The famous South by Southwest festival is underway this weekend, and two Denver startups are in the running for the event’s Interactive Innovation Award.

Two apps, “Tokken” and “Blinker” launched in Colorado in 2016, and are up for awards in the New Economy category.

Tokken follows a similar model to PayPal, offering cashless transactions for pot dispensaries and growers.

Blinker allows a user to buy or sell a car through their phone, as well as pull up vital information about a car with just a photo. 9NEWS was told this app feature involves image recognition technology that pulls from a vehicle’s shape and its license plate, and retrieves public records through the DMV and a partnership with Carfax.

The startups are among five finalists, and winners will be announced on Tuesday.