Second-year students created the startup concept to assistance millions of on the internet sellers
Jeff Mao and Tyler Ma, very first spot InVenture Prize winners. Photo by Allison Carter
An concept that originated in a residence hall won large at the 2023 Georgia Tech InVenture Prize. Jeff Mao and Tyler Ma, each second-year laptop science students, have created a internet-primarily based platform that could assistance millions of on the internet sellers save time and dollars.
Group SellRaze’s concept won a $20,000 verify and earned Mao and Ma a coveted spot in Tech’s Startup Launch plan, which will give them access to coaching from knowledgeable entrepreneurs, access to venture capital possibilities, and a path to quick-track their concept into a viable startup.
Through the presentation, the pair demonstrated the method of taking a single item listing on Amazon and adding it to eBay, which took 11 minutes and several actions. With SellRaze, Mao and Ma say sellers can achieve the very same activity in seconds and a couple of clicks.
“List as soon as, sell everywhere,” Mao explained.
A single InVenture Prize judge, the board director of Intercontinental Hotels Group and Intercontinental Exchange, asked the group how they planned to make dollars.
Mao mentioned they would give a “fremium” model, providing customers some cost-free listings and the solution to spend for growing tiers of several listings. He also explained that their internet platform presented a wealth of information about which merchandise sell the ideal and the instances and places they are in highest demand — information that sellers and retailers would spend for.
Following winning InVenture, the group now plans to expand their platform to a wider selection of on the internet retailing web pages like Depop, GOAT, Mercari, and Poshmark. “Walmart has been scaling their on the internet presence. We also want to add them,” Ma mentioned.
SellRaze will also acquire a cost-free U.S. patent filing from Georgia Tech’s Workplace of Technologies Licensing. Properly worth the really hard perform they have place into establishing the platform, Mao and Ma say half the code was written amongst two and 7 a.m.
Second spot and $ten,000 went to Group SpoilerALERT, 3 biomedical engineering students who invented an antibody test for insulin degradation enabling diabetic sufferers to evaluate the effectiveness of the drugs they take each day.
“We think all individuals with diabetes deserve to trust their medication,” mentioned Grady Lee, group member and a former Georgia Tech football player.
The $five,000 People’s Selection Award, chosen by the tv viewing audience, went to Julia Pina and her Novela Lamp, which permits young children to inform stories working with wooden cutouts of shapes, characters, and scenes.
Pina, an industrial design and style key, has currently been in talks with toy retailers. She says her lamp promotes imaginative play and communication abilities by means of inventive expression and assists young children and households lessen screen time.
Following taking very first spot in the 15th edition of the InVenture Prize, Group SellRaze hoisted the trophy and thanked the fans in the Ferst Center. “It’s a key milestone in our journey as entrepreneurs.”
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