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Richard Feldman wants opinions, and on Thursday he won $55,000 in funding to help collect them.

Feldman, who is pursuing a computer science undergraduate degree and a master’s degree in business administration at Washington University, earned the top spot in the annual Olin Cup competition. He won for his company IsThatOneGood LLC and www.itog.com, a website that lets users rate movies, books, restaurants and other products and also gives those users recommendations.

The recognition comes with $50,000 in seed-stage funding, which must be repaid as stock in the firm or as debt. Feldman, 22, also received a $5,000 grant for being a student entrepreneur.

Organized by Washington University’s Skandalaris Center for Entrepreneurial Studies, the Olin Cup competition honors startup companies. It’s open to the public, but at least one member of a company’s team must be a Washington University student, faculty member or alumnus. Winners were announced during a ceremony Thursday.

Raising money is a priority for startups and their owners. But Fred Flegel, who has judged the Olin Cup for about 10 years, said the competition is about more than the money. The companies get exposure and credibility that could lead to more funding from local venture capital funds and other investment groups.

He said Feldman’s team won because it showed dedication and had a solid business plan.

"They actually have this in operation," said Flegel, managing partner of accounting firm Lopata, Flegel & Co get a free credit report. LLP in Town and Country. "They’ve continued updating their business model."

The website is free for users, and revenue comes from advertisers. Feldman, who plans to work on the venture full time after graduation in May, said his parents have invested $70,000 in the company. He is looking for another $400,000 for salaries, servers and promotional marketing, and said the award money will be used for some of those expenses.

"It’s a real load off to know we’ve got money in the bank," said Feldman, who added that the company’s funding — until Thursday — was set to run out in May.

Washington University MBA student Arash Sabet and friend Keith Cronin, a doctoral student in Nashville, Tenn., were Olin Cup runners-up. They collected $20,000 in seed-stage funding for their Medi-bite product, a medical device that helps rehabilitate patients with jaw joint problems like TMJ disorder.

Sabet, 26, said he and Cronin need $400,000 to finalize the design and patent the technology. He added that they haven’t decided on a product price or how they’ll use the $20,000.

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