Another week has passed and that means it's time for another Questrom Blog Series. Luckily for me, interesting things keep happening every week and the blog is able to stay fresh. This week is no exception and I'm pleased to highlight a good pal of mine, Ken Hall, as he explains how his
VCIC team was able to come out on top in the Northeast Regional competition.
1. For those that don't know, what is the VCIC and what drew you to the competition?
The Venture Capital Investment Competition (VCIC) is the world’s largest venture capital competition and essentially puts students in the shoes of a venture capital firm. In the MBA division, there are 75 schools competing through 12 regional competitions for a spot in the global finals. The teams receive the decks of 3 actual startup companies that are raising capital (typically Seed or Series A startups) and have roughly 36 hours for due diligence before the morning of the competition. On the day of the competition, teams meet with each entrepreneur for Q&A, decide which firm they’re investing in, prepare a term sheet for the investment, present their investment decision to the judges, and, if selected, negotiate with the entrepreneurs.
What drew me to the competition was just a passion for VC, the amount of learning in such a short time period, and, yes, being competitive. I’ve interned or consulted for a handful of VCs, but I feel like this has been the best learning experience I’ve had in the industry. Leading up to the competition, we were meeting with leaders in the industry and experienced partners in venture. And then, in 48 hours, you’re gaining experience and demonstrating understanding in valuations, term sheets, market research, due diligence, negotiations, presenting to partners, building rapport, and more. It was like drinking from a fire hose.
