UNC Kenan-Flagler Business School

Shaping Leaders, Driving Results

UNC Kenan-Flagler Business School

Venture Capital Investment Competition

A Proud History

The Venture Capital Investment Competition® (VCIC) began at UNC Kenan-Flagler in 1998 as an educational event for MBAs to learn about venture funding. VCIC simulates the entire VC investment process in an extremely condensed time period, providing MBA students with a unique first-hand glimpse into the world of venture capital.

VCIC winning teammates Nick Wyman and Jeff Schreier gather feedback from judge Ken Sumner
Winning teammates Nick Wyman and Jeff Schreier gather feedback from judge Ken Sumner

Now a flourishing internationally-recognized program, VCIC serves approximately 1,500 individuals each year—1,200 MBA students from 60 top business schools, 175 venture capitalists, and 125 entrepreneurs.

VCIC fast facts:

  • 83% of Financial Times’ 2012 Top 30 MBA Programs worldwide participate in VCIC
  • 74% of students claim that VCIC was the best educational experience of their MBA careers
  • 25% of companies go on to raise venture capital after participating in VCIC

Each fall, UNC Kenan-Flagler hosts an internal VCIC competition to determine which team will represent UNC at the VCIC Southeast Regional. The winning schools from each Regional event (10 total) are invited to compete in the VCIC International Finals here at UNC Kenan-Flagler. UNC Kenan-Flagler is proud to be the worldwide headquarters for the VCIC program as it continues to expand its global reach.

1st Place VCIC Colorado team poses victoriously with their prize money
First Place Colorado team poses victoriously with their prize money

How it works

At the core of VCIC is a creative turn of the tables. Unlike business plan competitions where students pitch their venture idea to investors, MBA student teams competing in VCIC are the investors and real entrepreneurs pitch to them. With VC judges observing from the periphery, teams must attempt to confidently (and believably) assume the role of a venture capitalist evaluating the deals.

Following a brief due diligence period, each team is required to invest in one company and structure a deal for the chosen entrepreneur to review. The next segment of the competition involves several moving parts: submission of a term sheet summary, a simulated negotiation with the entrepreneur, and an intense Q&A session led by a panel of VC judges. Teams must do a superb job convincing their "partners" (or VC judges) that their investment decision is sound and will provide a reasonable return given the inherent risk in the deal.

Finally, the judges must choose a winner— the MBA team they would most like to have as their partner based on their evaluation of the teams' assessment of risk, knowledge of the VC process, communication skills and teamwork. After the winner has been announced, teams assemble for essential one-on-one feedback sessions with the judges. VCIC alumni often claim this to be the most valuable part of the competition in terms of their own professional development.

Visit the VCIC website