Second Stumberg Prize Goes To Student E-Commerce Company
The Country Club collection an e-commerce company that liquidates unused golf merchandise from country club shops was awarded the grand prize for the Stumberg Competition beating out three other companies for the $25,000 prize. CEO Danny Oh got choked up describing what the money meant to him and his team.
"My parents immigrated to this country with $400 in their pockets...and uh..." Oh said before the crowd interrupted him with another round of applause.
Oh - who's 21 - said the money will be used to purchase additional inventory that they can continue to sell through their website and ebay store before growing the company into a consulting and provider of services, including negotiating merchandise prices for clubs.
According to judge Cole Wollack - who also works with the Geekdom Fund - the deciding factor for him was that the company was already generating revenue.
"I think there is a lot of credit you can give an early company who can bring a dollar in the door and last month they brought in 6000," said Wollack.
Luis Martinez is the Director of Trinity's Center for Innovation and Entrepreneurship. He said despite winning the team are still going to have to hustle to make their business work.
"They'll have to go out there and get those customers. They'll have to go out there and serve those customers, really ensure that product is meeting that market need. But that initial gift, is what can get them the get going and get started for real," said Martinez.