Instead, Mr Toma (21) has become the Upstart Business Incubator's youngest client.
He has received a $15,000 investment in his business, NoteBoat, an online marketplace where students can buy and sell class notes.
Mr Toma had been contemplating heading overseas to work after graduating in November last year.
But, by "pure chance", he was talking to business coach Rueben Skipper and he encouraged him to pitch his business idea to Upstart.
Mr Toma originally got the idea from the US, in particular a similar note-sharing website called Notehall.
At that stage, there was nothing similar in New Zealand, although the idea was "catching on", he said.
Times were tough for students and he wanted to come up with a way for them to make extra cash.
"Students already take notes in classes, so selling them is an easy way to make money.
"NoteBoat encourages those who do take notes to take full, detailed notes, as they will be able to sell them for more money.
"And it makes it easier on those who miss a class; they can catch up on anything they missed."
Mr Toma was now working full-time on the business and the response had been pleasing, he said.
The aim was to "nail down" the business model in Dunedin before introducing it at other universities throughout New Zealand and Australia.
Although realising it was going to involve "a lot of hard work", he was excited about the potential.
Upstart chief executive Steve Silvey said it was great to have Mr Toma as a client.
"He's a smart, dedicated guy with a great idea.
"We are confident Chris can grow his business and that you'll soon see NoteBoat being used across New Zealand and Australia."
