SAN ANTONIO — The Stumberg Venture Competition is entrepreneurship at it's finest. It’s like the show "Shark Tank" but without the venture capitalists getting a piece of the business.
- Winner gets $25,000
- This is the 5th year of the competition
It started back in January when students applied for the competition. On Wednesday, a winner received a grand prize of $25,000 to launch their business.
This is the 5th year that Trinity University has teamed with the Stumberg family to hold the event, but the entrepreneurial program has been a staple for longer than that.
"You don't study entrepreneurship, you 'do it' here at Trinity. How that translated with our undergraduates research is that you start a business," Dr. Luis Martinez, the Director of the school's Center for Innovation and Entrepreneurship said.
Since 2012, the program has helped students launch 53 companies, with 26 of those coming since the Stumberg Venture Competition started.
"We feel fortunate with the generous contributions from the Stumberg family that we've been able to give out $250,000 to help these young men and women start their business while they're in college," said Martinez.
The finalists had already earned $5000 during a seed round, that also provided them with a paid summer program where they were able to work on their pitches. A nine week journey, but one the competitors, like Skate Cuff creator Andrew Koob thinks is just the beginning.
"I'd say it's a stepping stone. My vision for Skate Cuff goes well beyond Stumberg. It's just another part of the path," said Koob.