Berkeley-Haas Entrepreneurship

Venture Capital Investment Competition

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In Brief:


Congratulations to the winners of the 2017 UC Berkeley Venture Capital Investment Competition (VCIC) – COMMON WEALTH CAPITAL! Peter Stilwell, Eddie Gandevia, Kathryn Crimmins, Daniele Monahan and Alex Evangelides topped an impressive slate of 31 UC Berkeley students to score a ticket to the VCIC Regional Round in Silicon Valley. Bringing a diverse set of prior experiences and skills to the negotiating table, COMMON WEALTH CAPITAL excelled at due diligence, term sheet drafting, and negotiation tactics. The organizing committee would like to send a special thank you all of our participants, judges, entrepreneurs, and volunteers for an exceptional competition!


VCIC_Logo_250MBAs + Entrepreneurs + Venture Capitalists = VCIC

Do you have what it takes to pick winning investments? Find out by forming or joining a student team and see what it’s like to be a venture capitalist. With the UC Berkeley Venture Capital Investment Competition (VCIC), you’ll assess real investment opportunities in early stage companies by watching company pitches, conducting due diligence and negotiating investments with real Bay Area entrepreneurs. You’ll learn firsthand how to value companies, construct and negotiate term sheets while spending a full day with high profile Silicon Valley venture capitalist judges.

Learn more about Global VCIC here.


For more information, please contact the organizing committee at vcic@haas.berkeley.edu.

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.

5 Reasons Why You Should Compete in VCIC:

  1. Evaluate pitches from real entrepreneurs
  2. Interact with Senior VCs from the Bay Area
  3. Learn how to conduct due diligence and negotiate term sheets
  4. Work with Engineering, Law and other Cal grad students
  5. Represent Cal in the Regional Competition hosted in Silicon Valley.


2017 Application Process

Six teams, each comprised of five UC Berkeley students (with an optional observer), will be selected to compete in the 2017 UC Berkeley Competition. All team members must attend the VC led preparation workshops and the full day competition (dates to be announced.)

[How to form your team]

Add your Information to the Team Formation Sheet: 
https://docs.google.com/spreadsheets/d/1J0tezBIp9SI87vpHhoM3F3t53AjNr2i_pc1-M5OloOY/edit#gid=0

What’sApp Group for VCIC Team Formation Mixer: 
https://chat.whatsapp.com/invite/6r7SFX88smfDU8XfuaSfrw
(you can chat with your potential teammates before, during and after the mixer)

[Schedules]

Application Open: Nov 15
Application Deadline: Nov 25 by 23:59pm

[How to Apply]

1. Application documents are (1) Application sheet, (2) Non-Disclosure Agreement and (3) Pitch decks.
2. Please download (1) and (2) from the links below.
(1) Application sheet
https://drive.google.com/file/d/0B1jILOgOp8RlTUdfTld5R0JQLTA/view
(2) NDA
https://drive.google.com/file/d/0B1jILOgOp8RlYm1vbnl3cy1Pd1k/view
3. Sign the NDA either using Docu Sign (e-sign) or on a hard copy (one person per team)
4. After you submit the NDA, you will receive Pitch Decks
5. Please fill out the application sheet and send it to vcic-haas@berkeley.edu by Nov 25th 23:59

<NDA Submission via Docu Sign>
1. Please send an email to vcic-haas@berkeley.edu to ask for application documents.
(email title “Docu Sign: YOUR NAME, TEAM NAME)
2. You will receive access to Docu Sign to sign a NDA
3. Please complete Docu Sign following instructions

<NDA Submission via Hard copy>
1. Please print out the PDF and send the signed PDF to vcic-haas@berkeley.edu
(email title “Signed NDA: YOUR NAME, TEAM NAME”)
 

[Updates on eligibility]
As from 2017, VCIC headquarters has changed rules on eligibility.
There are two major changes:
1. undergraduate students can participate
2. students who are currently working for VC companies can also participate
3. (Optional) sixth member can be appointed as an observer per team. The observer can communicate with the team throughout the competition except for any judged sessions. Qualifications of the observer are not part of team selection criteria. (this is basically a spot for junior people who is not quite qualified yet but intend to participate in the future)

 
Eligibility

  • Each team must be comprised of five members. A sixth member can be appointed as an observer per team. The observer can communicate with the team throughout the competition except for any judged sessions. Qualifications of the observer are not part of team selection criteria.
  • All team members must be current UC Berkeley graduate or undergraduate students.
  • 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 and to compete through the Regional competition on February 25, 2017 if selected, and to the International competition at UNC taking place April 7-8, 2017
  • Ensure all team members named on the application are present at the day of the competition No alternatives and no absences are allowed.


VCIC 2016-7 Competition Calendar

Event/Deadline Date Venue
Executive Committee Information Session Wednesday, September 14, noon-1pm S480
Executive Committee Application Deadline Wednesday, September 14, 11:59pm
Information Sessions Monday, 10/10, Weds., 10/26 Berkeley-Haas
Team Formation Mixer November 4th (Team Formation Sheet) Berkeley-Haas
Application Deadline Nov 25 by 23:59pm Berkeley-Haas
Kickoff Workshop TBD Berkeley-Haas
Workshop TBD Berkeley-Haas
UC Berkeley Competition TBD Berkeley-Haas
Regional Competition (see: http://www.vcic.unc.edu/ ) February 25 San Francisco
International Finals April 7-8 Chapel Hill, NC

UC Berkeley Competition Day

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 3-4 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 each group will develop a term sheet to pitch to a panel of VC judges, simulating a Monday morning VC partner meeting. Judges deliberate and then announce the top 2 teams that will compete in the final round. In the final round, the top 2 teams will be selected to complete a negotiation session with their selected entrepreneur in front of the VC judging panel. 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.

 

VCIC Executive Committee

Chair – Lihong Hicken
Judges Lead – Zach Thigpen
Entrepreneurs Lead – Tareq Abdallat
Team Lead – Ryosuke Yamawaki
Team Mentor – Scott Graham

 

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.

Frequently Asked Questions:

 

 

Overview

Who organizes the event? The Berkeley-Haas Entrepreneurship Program 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 students are eligible. 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 (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 on November 4 to help in the team formation process.

When is the application due? Full written applications are due on Friday, November 25, 2016 by 11.59pm.

How many applicant teams get to compete in the UC Berkeley VCIC? Six teams will be selected to participate in the Competition.

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 2016 Competition date has not yet been scheduled.

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 workshops held at Berkeley-Haas (dates to be announced) 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 Silicon Valley in early 2017.


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 Silicon Valley on February 25, 2017. The International competition will take place at UNC’s Kenan-Flagler School April 7-8, 2017.

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.