VCIC Victory

My team won the KFBS internal Venture Capital Investment Competition (VCIC) this weekend. Our victory means that we get to compete in the VCIC regionals at UVA's Darden School of Business in February against teams from Dook, Emory, Rice, Georgia Tech, and Wake Forest.

We're pumped because our team is seriously strong:

Charlie - former consultant, jack-of-all-trades, killer low post game.
Kate - life sciences expert, same last name as Uncle Jesse from Full House.
Jason - medical device guy, pitch artist, cellist.
John - raised VC as an entrepreneur, way smarter than the rest of us.
Me - trying not to mess it all up.

VCIC is a bit different than other case competitions. The teams get 3 (real) business plans from start-ups seeking funding and have a day or so for due diligence. On the big day, the entrepreneurs show up on campus to pitch their business plan. Following the pitch, the teams get a 12 minute "interview" session with the entrepreneurs.

After that, the teams have about 2 hours to put together a term sheet and a presentation for the judges - all VCs or VC-backed entrepreneurs. Teams are then judged on the term sheet, the presentation, and the "interviews". (The judges were in the room as we questioned the entrepreneurs.)

Saturday was seriously intense and seriously educational. Of the 3 case competitions I've done this far, I think that VCIC has been the most enjoyable.