This is a guest post penned by Robbie Horwitz (FTMBA 2011), VCIC Organizing Committee, Judging Representative:
This Friday, February 5th, 2010, six teams of UC Berkeley graduate students will take on the role of venture capitalists for the day as they face off at the Haas school of Business for a chance to compete in the regional VCIC semifinals at the University of Southern California in mid February. Each team will be asked to evaluate business plans from promising entrepreneurs who are currently seeking funding for their businesses. The teams will perform due diligence in the form of a question and answer session with each entrepreneur, and will then prepare a valuation and term sheet for the business which they believe represents the best investment. A panel of experienced Silicon Valley venture capitalists will assess how well each team performs these tasks and determine the competition’s winner.
Recently, on January 22nd, 2010, the teams had a chance to practice their skills by participating in a series of workshops led by a team of two seasoned venture capitalists, an innovative entrepreneur, and an experienced and knowledgeable corporate finance attorney. These experts provided valuable feedback and guidance to the teams, which is sure to come in handy during the competition. Now, with less than one week to go before the competition, the teams are ready to compete and excitement has been growing on campus. It should be a fun event and a great learning experience for all involved!