Key Takeaways
- • A Miami University Farmer School of Business team won the East Regional round of the Venture Capital Investment Competition (VCIC) for the 10th consecutive year, competing Feb. 20-22 at the University of Florida's Warrington College of Business.
- • The team beat teams from Georgia Tech, Emory, and the Air Force Academy and advances to the Global Finals at the University of North Carolina on April 17-18.
- • VCIC teams adopt the identity of a venture firm, conduct 36 hours of due diligence on three seed-stage companies, and prepare a term sheet for one investment.
- • Miami teams have won the regional round in every year the competition has been held, according to the university.
Summary
A six-member team from the Farmer School of Business at Miami University has won the East Regional round of the Venture Capital Investment Competition for the 10th consecutive year. The team, made up of Elena Hentz, Liam McAllister, Logan McGuire, Tommy Sullivan, Tyler Williams, and Shayla Williamson, competed February 20-22 at the University of Florida's Warrington College of Business, per the university's report.
The VCIC requires teams to assume the identity of a venture firm. On the first day, each team receives a profile of its fund and business plans for three seed-stage companies. Teams then have 36 hours to conduct due diligence on the companies, their founders, and their markets, and to prepare a term sheet for one investment. On the final day, teams hear pitches, hold one-on-one question-and-answer sessions with founders, and have two hours to finalize their decision. They then defend their recommendation to a panel of current venture investors, who assess the logic of each decision and negotiate final terms with the selected company's founders.
Team members said the program provided hands-on exposure to real-time decision-making, networking, and reliance on industry contacts. Hentz described the experience as a test of working under significant time constraints. McAllister said that the team's due diligence depended on industry experts and alumni who made themselves available on short notice, which he cited as evidence of the strength of the Miami community and alumni network.
Assistant lecturer of Entrepreneurship Theresa Sedlack, who coaches the team, praised the group's collaboration and performance. Students in the VCIC must complete the Department of Entrepreneurship's 10-week Venture Capital Immersion program, which covers venture capital concepts, terminology, and practices. Founders, investors, and mentors from the Miami alumni network and the Startup Cincy ecosystem also assist teams in preparation.
The team advances to the Global Finals at the University of North Carolina on April 17-18. According to the university, Miami teams have won the regional round in every year the competition has been held.
The VCIC requires teams to assume the identity of a venture firm. On the first day, each team receives a profile of its fund and business plans for three seed-stage companies. Teams then have 36 hours to conduct due diligence on the companies, their founders, and their markets, and to prepare a term sheet for one investment. On the final day, teams hear pitches, hold one-on-one question-and-answer sessions with founders, and have two hours to finalize their decision. They then defend their recommendation to a panel of current venture investors, who assess the logic of each decision and negotiate final terms with the selected company's founders.
Team members said the program provided hands-on exposure to real-time decision-making, networking, and reliance on industry contacts. Hentz described the experience as a test of working under significant time constraints. McAllister said that the team's due diligence depended on industry experts and alumni who made themselves available on short notice, which he cited as evidence of the strength of the Miami community and alumni network.
Assistant lecturer of Entrepreneurship Theresa Sedlack, who coaches the team, praised the group's collaboration and performance. Students in the VCIC must complete the Department of Entrepreneurship's 10-week Venture Capital Immersion program, which covers venture capital concepts, terminology, and practices. Founders, investors, and mentors from the Miami alumni network and the Startup Cincy ecosystem also assist teams in preparation.
The team advances to the Global Finals at the University of North Carolina on April 17-18. According to the university, Miami teams have won the regional round in every year the competition has been held.
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