Venture Capital Investment Competition

VCIC
Overview
MBAs + Entrepreneurs + Venture Capitalists = VCIC

Have you ever looked at a company like Facebook, Google, or Solar City and said “I knew they would be successful!” If so, the UC Berkeley Venture Capital Investment Competition (VCIC) is for you. VCIC gives students the opportunity to act as venture capitalists and assess real investment opportunities in early stage companies – evaluating business ideas, watching company pitches, conducting due diligence, and negotiating investments with real Bay Area entrepreneurs. You’ll learn the ins and outs of valuing companies, constructing a term sheet, and spend a full day with high profile Silicon Valley Venture Capitalists who will judge the competition.

All UC Berkeley graduate students are eligible to compete, and must compete in teams of five students. Teams will submit an online application, which will be posted on this site beginning October 25. Six teams will be selected to compete in the UC Berkeley Competition on January 30. The winning team will move on to the VCIC Regional Competition and could advance to compete in the VCIC International Competition with 66 universities, spanning 13 countries and 3 continents! Learn more about Global VCIC here.

Scroll down to find out more information.

The Purpose of the UC Berkeley VCIC

The UC Berkeley VCIC is a three-tiered progressive competition. The winning team from our UC Berkeley competition will advance to compete in the VCIC Regional Competition in February. Last year, UC Berkeley won the regional competition and advanced to the final tier, representing the region at the VCIC International Competition in North Carolina in April.

VCIC aims to educate and expose UC Berkeley graduate students to the venture capital process and the investment criteria considered when evaluating a business opportunity. Potential Venture Capitalist candidates have limited opportunities to experience the “day in the life of a VC” because of the selective nature and criteria of VC recruiting. VCIC’s goal is to allow students to apply the art and science of venture investing and try their hand at selecting real business opportunities using strategic investment criteria, valuation, capitalization tables, term sheets, and other tools of the trade.

VCIC Bracket

 


VCIC Key Dates, Application Process and Eligibility

2015 Competition Calendar

Event/Deadline Date Venue
Application Deadline Saturday, November 15, 2014 at 5:00PM Electronic Submission
VC-Led Workshops: Pitch Evaluation,
Term Sheet, Negotiation
Friday, January 23, 2015:
4:00 – 8:30 pm
Wells Fargo Room: Berkeley-Haas
UC Berkeley Competition Friday, January 30, 2015:
8:30 am – 6:00 pm
Wells Fargo Room: Berkeley-Haas
Regional Competition
see: http://www.vcic.unc.edu/
Friday, February 6, 2015:
8:00 am – 5:30 pm
San Jose, CA
International Finals April 9-11, 2015 Kenan-Flagler Business School, Chapel Hill, NC

2015 Application Process

The application will be available on this site beginning Saturday, Oct 25. Six teams, each comprised of five UC Berkeley graduate students, will be selected to compete in the 2015 UC Berkeley Competition. All team members must attend the VC led preparation workshops on Friday, January 23 afternoon and the full day competition on Friday, January 30.

Information sessions will be held at UC Berkeley Haas during the last week of October. There will also be an informal mixer for students interested in forming teams with students from the Berkeley Engineering School and Boalt Law School on Tuesday, Nov 4 from 6:30-8:30pm at Freehouse. A Google Doc has been put together to help facilitate team formation for those looking for potential teammates. Please feel free to utilize this resource to find folks to compete with!

Applications are due by Saturday, November 15 at 5:00PM to vcic@haas.berkeley.edu. A subset of teams will be selected to interview for one of the six competition spots.

Eligibility

  • Each team must be comprised of five members.
  • All team members must be current UC Berkeley graduate students.
  • No team member can be working with a VC firm from October 27, 2014 until his or her team’s participation in the VCIC ends.
  • At least one member must be a paid up member of the Berkeley Entrepreneurs Association at the time of application submission.
  • If selected to compete in the internal competition, ALL members of each of the six teams must be paid members of the Berkeley Entrepreneurs Association.
  • Each team must appoint a Team Lead who will serve as the point of contact and voice for the team.

Teams selected to compete in the Competition must also commit to:

  • Sign the NDA and the Code of Conduct, and abide by all VCIC rules.
  • Attend the pre-competition workshops on January 23, 2015 and to compete through the Regional competition on February 6, 2015 if selected, and to the International competition at UNC taking place April 9-11, 2015.
  • Ensure all team members named on the application are present at ALL pre-competition workshops and on the day of the competition- Friday, January 30, 2015. No alternatives and no absences are allowed.

UC Berkeley Competition Day

Members of the six teams selected to compete in the Competition must attend three workshops held on Friday, January 23, 2015 prior to Competition day: “Evaluating Pitches”, “Term Sheets”, and “Negotiation”.

On Competition day, four entrepreneurs currently seeking VC funding will pitch to all six teams. Teams will receive business materials for these companies three days prior to the Competition. Following entrepreneur pitches, teams will then rotate around the entrepreneurs, one (team) on one (entrepreneur), where they will have the opportunity to ask specific questions about the business materials, while being observed by a panel of 4 VC judges. Entrepreneurs and VC judges will represent a diverse range of sectors and backgrounds.

Teams will then break out to make investment decisions and develop term sheets and will also complete a negotiation session with their selected entrepreneur in front of the VC judging panel. Judges deliberate and then announce the winner. Judges provide feedback to the teams, and also provide feedback to the entrepreneurs.

More Information

For more information, please refer to the frequently asked questions or contact the organizing committee at vcic@haas.berkeley.edu.


Involvement Opportunities for VCs and Entrepreneurs

Judging Opportunities for Venture Capitalists

The participation of our VC judges is vital to the success and quality of the Competition. Involvement also provides our judges with the opportunity to survey the emerging talent from the UC Berkeley student population, and to view pitches from entrepreneurs currently seeking funding. A panel of 4 judges will be established.

If you or your firm are interested in being a competition VC judge, please send an e-mail to vcic@haas.berkeley.edu for more information.

Opportunities for Entrepreneurs

The VCIC Competition provides a great opportunity for entrepreneurs to practice their pitching skills, have their business evaluated by 30 talented students, and receive feedback from seasoned venture capitalists. Up to 4 companies are recruited to pitch at the event each year. Note that companies involved in the Competition must be currently seeking funding at the time of the Competition in January and must be unknown to the competitors.

If you or your company are interested in getting involved in the Competition, please send an email to vcic@haas.berkeley.edu.

The VCIC Executive Committee
  • Melissa Tsang (EWMBA 16), Chair
  • Zen Menon (EWMBA 17), Entrepreneurs
  • Jason Ogden (MBA 16), Judges
  • Mubeen Khumawala (MBA 16), Teams and Workshops
  • Kirsten Berzon, Lester Center for Entrepreneurship

Outcomes of the 2014 VCIC

Congratulations to the 2014 VCIC Winning Team – Evolve Ventures!

To read about their Competition win in February, 2014, check out our newsletter archive.

EvolveVentures

EvolveVentures celebrates their win at Cisco Headquarters

Frequently Asked Questions:

 

Overview

Who organizes the event?
The Lester Center for Entrepreneurship and the Berkeley Entrepreneurs Association (BEA) are responsible for the UC Berkeley VCIC. A committee of first year Berkeley-Haas MBA students are recruited each fall 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 the venture capital investment opportunity recognition and process. This occurs through both the Competition itself and through the supporting workshops leading up to it.

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. VCIC’s goal is to allow students 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.

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 October 27, 2014 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 Berkeley Entrepreneurs Association (BEA) 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 BEA.

How do I become a member of the Berkeley Entrepreneurs Association?
All UC Berkeley graduate students are welcome to join the BEA. Membership dues are $25 for one year and $40 for two years. If you would like to join, please do the following:

  • Pay online through the BEA website (most preferred)
  • Pay through PayPal to ea@haas.berkeley.edu

For more information about BEA please visit the BEA 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 at vcic@haas.berkeley.edu. We will be holding one mixer event in November to help in the team formation process.

When is the application due?
Applications are due by Saturday, November 15 at 5:00PM to vcic@haas.berkeley.edu. A subset of teams will be selected to interview for one of the six competition spots.

How many applicant teams get to compete in the UC Berkeley VCIC?
Six teams will be selected to participate in the Competition. Applicant teams will be notified by November 24, 2014.

Who decides which teams get to compete in the UC Berkeley VCIC?
The VCIC Executive Committee and a professional VC will review applications and select the six teams to compete in the UC Berkeley Competition.

The UC Berkeley VCIC

When is the UC Berkeley VCIC?
The 2015 Competition will be held on Friday, January 30, 2015 at Berkeley-Haas.

What kind of time commitment will be required to compete in the UC Berkeley VCIC?
Once your team has been selected to compete, you should expect to participate in three workshops held at Berkeley-Haas on Friday, January 23, 2015 to help you prepare for the Competition. The actual Competition is one day in length, however teams have three days to review company business materials prior to the Competition.

How will the Competition be structured?
On the day of the Competition, competing teams will watch the entrepreneurs pitch. Next, the competing teams will sit down one-on-one with each entrepreneur and hold a Q&A session with a VC judge present 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 VC judges.

How will the winning team be chosen?
The winning team will be chosen by a panel of Bay Area VC judges.

What are the prizes for winning the Competition?
The winning team of the UC Berkeley VCIC will move onto the Regional Competition in San Jose on Friday, February 6, 2015.


Regional and International Venture Capital Investment Competitions

When and where will the Regional and International VCIC take place?
The Regional Competition will take place in San Jose on Friday, February 6, 2015. The International competition will take place at UNC’s Kenan-Flagler School April 9-11, 2015.

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

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

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

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