VC: To fund or not? BC MBAs compete in 1 month!
6 full-time and evening MBA and MSF candidates are hard-at-work preparing for the Regional Venture Capital Investment Competition on February 27th. The team is leveraging resources from the BC community to interview entrepreneurs, venture capitalists, and seek the counsel of different advisors. More importantly, they’re constantly practicing the review of business plans, venture idea pitches and mock negotiations. Last year, the BC grad team came in 6th worldwide and we have similarly high hopes for 2015.
13 BC grad students competed in a Local VCIC competition on November 7th. The judging panel selected 5 finalists, and one alternate to represent the University at the New England VCIC Regionals in February. This year’s Regional competition mimics a successful test from the global finals last year: a 2-part competition where the teams first present in “partner meeting format,” to motivate the panel to back their investment ideas. The advancing teams then negotiate financing terms with the entrepreneurs directly, also under judging review. The Regional winner continues to the VCIC Global Finals at UNC in April.
Here is the list of students representing BC at the Regionals:
Christine Grascia (evening MBA / MSF)
Shalabh Gupta (MSF)
Parul Sharma (full time MBA)
Emmett Shipman (full time MBA)
Brian Spurr (evening MBA)
Daniel Lavoie (full time MBA) [alternate]
The Venture Capital Investment Competition® began in the middle of the technology bubble in 1998 as an educational event for MBAs to learn about venture funding. Now in its 18th year, through good times and bad in the venture industry, VCIC® has evolved into a marketplace for entrepreneurs seeking investors and a training ground for future venture capitalists. In 2010, VCIC included 50 events in four continents, and served 1,000 students, 150 venture capitalists and 100 entrepreneurs. The program is akin to a network of mini-venture fairs, wherein about a quarter of the entrepreneurs who present go on to raise venture funding.
At the core of the event is a creative turn of the tables. Unlike business plan competitions in which students pitch their own ideas to investors, at VCIC the students are the investors, and real entrepreneurs pitch to them. It is a very powerful learning experience for both parties. Add to the mix a dozen VC judges, and you have what the VCIC website describes as a “win-win-win.” Students learn (and win cash), entrepreneurs connect with investors and VCs get an early peek at some viable deals.