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UC Berkeley
Venture Capital Investment Competition

Frequently Asked Questions


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FAQ Index:

Overview

Who organizes the event?
The Lester Center for Entrepreneurship and the Haas Entrepreneurs Association (EA) are responsible for the UC Berkeley VCIC. A specific committee of Berkeley MBA students is established to organize the event.

Why should I participate in the competition?
The VCIC competition provides an excellent learning experience for UC Berkeley students interested in venture capital and entrepreneurship, by enhancing their appreciation of venture capital investment opportunity recognition and process. This occurs through both the competition itself and through the supporting workshops leading up to the competition.
Potential venture capitalist candidates have limited opportunities to experience "a day in the life of a VC" because of the selective nature and criteria of VC recruiting. This competition aims to allow students to apply the art and science of venture investing to try their hand at selecting real business opportunities using strategic investment criteria, valuation, capitalization tables, term sheets, and other tools of the trade.

The Competition also provides opportunities for students to build and extend their relationships with established Bay Area venture capitalists.

How do I get involved in helping organize the competition?
A new VCIC organizing committee is selected each year by the incumbent VCIC committee, in October. Calls for applications are notified through regular Berkeley MBA student communication channels.

The Application Process

Who is eligible to apply for the Berkeley VCIC?
All UC Berkeley graduate students are eligible, as long as they are not a paid employee with a VC firm from November 1, 2011 until his or her team’s participation in the VCIC ends. Students must apply in teams of exactly five members. At least one team member must be a paid member of the Haas EA to apply. All of the members of the six teams selected to compete in the internal (UC Berkeley) competition MUST be paid members of the Haas EA. Click here for more information about eligibility criteria and conditions of entry.

How do I become a member of the Haas EA?
All UC Berkeley graduate students are welcome to join the Haas EA. Membership dues are $25 for one year and $40 for two years. If you would like to join, please do the following:
* Make a check out to "UC Regents" and write "EA membership" on the notes line.
* Attach a note with your name, email address, school, program and class (e.g. Full-Time MBA, class of 2012).
* Drop it in the mailbox of Joel Davis (VP of Membership) in the Haas MBA lounge.
For more information about EA please visit the EA home page.

If I don’t have a team can I apply as a single person team and / or be teamed with other single persons?
You must apply in a team of exactly five members. If you want to join a team or are in need of additional team mates, please contact the Competition organizers through Eric Desai at vcic@haas.berkeley.edu . We will be holding one mixer event to help in the team formation process. Please see the “VCIC Calendar” for more information.

When is the application due?
Application materials will be due on Monday, November 14, 2011 at 5:00pm. Check the Calendar page for details. The application will be made available on November 1, 2011. Applications must be submitted by email to vcic@haas.berkeley.edu. No late applications will be accepted.

How many applicant teams get to compete in the Berkeley VCIC?
Six teams will be selected to participate in the competition. Applicant teams will be notified by Tuesday, November 22, 2011.

Who decides which teams get to compete in the Berkeley VCIC?
The VCIC Committee, a VC professional and a representative of the Lester Center will review applications and select the six teams to compete in the internal Haas competition.


The UC Berkeley VCIC

When is the Berkeley VCIC?
The 2012 competition will be held on Friday, January 27, 2012 at the Haas School of Business.

What kind of time commitment will be required to compete in the Berkeley VCIC?
Once your team has been selected to compete, you should expect to participate in three workshops held at Haas on December 2, 2011, each a couple of hours long, to help you prepare for the competition. Mentoring hours which we will organize with VCs and the optional workshops are highly encouraged. The competition will be one day long. Teams have three days to review company business plans prior to the competition day itself.

How will the Competition be structured?
Competing teams have three days prior to the competition date to review real business plans from entrepreneurs currently seeking VC funding. On the day of the competition, the competing teams will watch the entrepreneurs pitch their companies. Next, the competing teams will sit down one-on-one with each entrepreneur and hold a Q&A session with a VC judge present in the room assessing the interaction. The teams will choose which team to invest in, create a term sheet, and then negotiate the terms with the selected entrepreneur in front of a panel of VCs.

How will the winning team be chosen?
The winning team will be chosen by a panel of Bay Area VCs who will be present on the day of the competition. The winning team will be chosen at the end of the day of competition.

What are the prizes for winning the competition?
The winning team of the Berkeley VCIC will move onto the Regional competition at Santa Clara University on Friday, February 10, 2012.


Regional and International Venture Capital Investment Competitions

When and where will the Regional and International VCIC take place?
The Regional competition will take place at Santa Clara University on Friday, February 10, 2012. The International competition will take place at UNC's Kenan-Flagler School, April 12-14, 2012. A chart of regional brackets is available.

Who from UC Berkeley gets to participate in the Regional and International VCIC?
The winner of the Berkeley VCIC will move onto the Regional competition. The top team from the Regional competition will move onto the International final.

Will participation cost me any money?
There is no entry fee for the Haas, regional or national finals.

What are the prizes for winning the International competition?
The International competition awards $10,000 worth of prizes to the winning teams.

How has UC Berkeley performed in previous Regional and International VCICs?
Our 2011 winners won second place overall at the regional competition. Our 2009 winners won the Entrepreneur’s Choice Award and were placed third overall at the regional final. In 2005 the UC Berkeley VCIC winners won the National competition, beating teams from other top MBA programs such as Sloan, Wharton, Chicago, and Harvard.

The Berkeley VCIC is hosted by the Lester Center for Entrepreneurship at UC Berkeley and administered by MBA students from the Haas School of Business. VCIC ® is a trademark of the University of North Carolina.




The Berkeley VCIC is hosted by the Lester Center for Entrepreneurship and Innovation at UC Berkeley and administered by MBA students from the Haas School of Business.  VCIC ® is a trademark of the University of North Carolina.



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