While Mr Nawarjan is yet to achieve his half-billion-dollar goal, he became $20,000 closer after winning the NBR Audacious Otago Business Plan Competition, announced at a prizegiving at the Dunedin Centre on Tuesday night.
Before the announcement, the 10 finalists were asked to present an "elevator pitch" of their idea, with Mr Nawarajan cramming hundreds of words into the 55-second time limit.
The University of Otago student told the audience of more than 80 that OceanMarkets Ltd, a personalised search engine for stocks, had the potential to grow into a half-billion-dollar enterprise in only five years.
"Our vision is to be the Google for finding stocks for any investment portfolio," he said.
Winning the award would help his company make a name for itself, and he planned to stay in Dunedin "before going global".
Second was University of Otago student Jaroslav Novak, who received a $10,000 prize package to help establish Virtuoso Online - interactive online media "that promises to revolutionise the world of music and to be a world leader in e-learning".
"This has been a great learning experience. You get access to some great minds around Dunedin and it is important to have that support when starting a business," he said.
Mr Nawarjan and Mr Novak were two of 12 contestants, promoting 10 businesses, to make it through to the final.
The competition, open to Dunedin tertiary students, attracted 96 entries for the first semester final, before the 10 finalists were chosen.
The finalists underwent an intensive round of interviews last weekend with the judges, Jo Kirkwood (University of Otago School of Business), Henry Van Dyk (Polson Higgs), Craig McGregor (business manager), Gary Taiaroa (Enabling Technologies co-founder), Norman Evans (Otago Upstart business incubator), Paul Hubbard (Anderson Lloyd Lawyers) and Michelle Thorne (Polson Higgs).
Other winners were: Best use of technology, Deloshan Nawarajan (OceanMarkets Ltd); student entrepreneurship, Scott Cardwell (BrightEYE International); most innovative, Michael Dowse (Consumeron Ltd); best use of design, David Booth, Toby Holborow, Andrew Crone (Emberley Surf and Snow NZ); best small business, Shannon Deeks (Exer-Fly); best use of interactive media, Wendy Wang (GettingAround.com); most socially responsible, Smith Geursen (Liaison).
