Berkeley-Haas Entrepreneurship

Venture Capital Investment Competition

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In Brief:

VCIC_Logo_250

 

 

 

 

MBAs + 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.

Check out this Forbes Article about our 2018 UC Berkeley Competition

Learn more about Global VCIC here.

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

Thank you to our Sponsor:


Terence M. Kelly, Partner at Dorsey.


VCIC 2019-20 Competition Calendar

Event/Deadline Date Venue
Executive Committee Information Sessions (Event ended)  
Executive Committee Application Deadline  (Event ended)  
Graduate Competition Information Sessions –
Pizza & Beverages Served!

Thurs., 11/14, 12-1pm, C125 (Cheit Building)

Tues., 11/19, 6-7pm, N540+N544 – (Chou Hall)

 

Berkeley-Haas

SIGN UP HERE

Team Formation Mixer –
Pizza & Beverages Served! 

Mon., 12/2, 8pm (Location: TBD)

Tues., 12/3, 6pm (Location: TBD)

Berkeley-Haas

 

Application Deadline

Monday, December 9th 11:59pm

The application will be made available December 2nd.

Please find additional information below.

Kickoff Workshop Friday, January 24, 2020 (subject to change) Berkeley-Haas
Workshop Friday, January 31, 2020 (subject to change) Berkeley-Haas
UC Berkeley Competition Friday, February 7, 2020 Berkeley-Haas
Regional Competition
(see: //www.vcic.unc.edu/ )
Friday, February 21 San Francisco
Global Finals March 27 – 28, 2020 UNC – Chapel Hill, NC
(travel)

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 March.

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.

 

2020 Application Process

Six teams, each comprised of five UC Berkeley students (with an optional observer), will be selected to compete in the 2020 UC Berkeley Competition. All team members must attend the VC led preparation workshops and the full day competition (dates to be announced.)

[Updates on eligibility]
As of 2017, VCIC headquarters has changed rules on eligibility.
There are a couple major changes from previous years:
1. Students who are currently working for VC companies can also participate
3. (Optional) 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. (In summary, a spot for someone who is not quite qualified yet but intends 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 (for the graduate track) or undergraduate students (for the undergraduate track). Undergraduate students can not participate in the graduate track. 
  • 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 in February 2020 if selected, and to the Global Finals at UNC in March of 2020.
  • Ensure all team members named on the application are present on the day of the competition No alternatives and no absences are allowed.

 

[How to form your team]

Team formation sheet (coming soon)

[Important Dates]

 Application Deadline: December 9, 2019 by 11:59pm

[How to Apply] 

  1. Application will be made available starting Decemeber 2, 2019. 
  2. Download the NDA from this link 
  3. Send the NDA to VCIC-HAAS@BERKELEY.EDU
  4. We will send you the application materials and pitch decks N.B. the persons on the application must be the same that signed the NDA
  5. Please fill out the application sheet and send it to vcic-haas@berkeley.edu

 

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 5-6 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.

 

2020 VCIC Executive Committee

Chair – Omer Faruk Ardic

Judges Lead – Charles Hwong

Entrepreneurs Lead – Eva Gurfein

Team Lead – Johnny Lin

 

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 is 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.

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 teammates, please contact the Competition organizers at vcic-haas@berkeley.edu. We will be holding a mixer event in November to help in the team formation process.

When is the application due? Full written applications are due on December 2, 2019 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 2020 Competition date is Friday, February 7, 2020.

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 February 2020.


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 Los Angeles on February 15, 2019. The International competition will take place at UNC’s Kenan-Flagler School April 2019.

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. The international competition will take place at UNC’s Kenan-Flagler School March 2020.

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.

 

Undergraduate VCIC UC Berkeley Competition

UC Berkeley is proud to announce an undergraduate track for the VCIC Competition. The top undergraduate team from UC Berkeley will be selected to move on to regionals in Silicon Valley. Last years diverse undergraduate team comprised of students from various programs such as Business Administration, Economics, Mechanical Engineering, and Cognitive Science with minors in Computer Science and IEOR.

VCIC aims to educate and expose UC Berkeley undergraduate 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 through our workshops
  4. Work with Cal students from various programs
  5. Represent Cal in the Regional Competition hosted in Silicon Valley.

Important Dates and Opportunities:

  • Executive Committee Application Deadline: (application closed)
  • Information Sessions and Mixers for team formation: November (see calendar)
  • Application Deadline for Teams: December 9th by 11:59pm
  • Workshops for the final team: January 24 & 31, 2020
  • Regional Finals in San Francisco: February 21, 2020
  • National Finals at Chapel Hill, NC: March 27-28, 2020