Contributed By: Ishita Kataria
Edited By: J K Varshika
Established in 1998, the Venture Capital Investment Competition is the world’s largest venture capital competition among top business schools in the world run by UNC’s Kenan-Flagler Business School, USA. It is a unique event in which MBA students emulate the life of Venture Capitalists. Unlike business plan competitions in which students pitch their own ideas to investors, at VCIC the students are the investors with real entrepreneurs pitching to them. It is a very powerful learning experience for both parties. Actual VCs assume the role of judges and assess student teams’ performance. You have what we call it as “win-win-win” situation – students learn about the fundamentals of venture capital investing (and get a chance to represent India at global finals, USA), entrepreneurs connect with investors and VCs get an early peek at some viable deals.
VCIC includes 50+ events on four continents, serving over 1,500 students, 150 venture capitalists and 100 entrepreneurs. The global finals is hosted by UNC Kenan Flagler Business School every April in Chapel Hill, North Carolina, where the top team takes home $5,000 in prize money. This is the third consecutive year that IIM Bangalore hosted the national finals of the VCIC and this year’s edition saw participation from the campus winning teams of IIM Ahmedabad, IIM Bangalore, IIM Calcutta, IIM Lucknow, Faculty of Management Studies Delhi, and Indian School of Business Hyderabad. The startups that took part last year were Eunimart, Airim, and 99tests.
This year’s startups were revealed to the competing teams only a day and a half before the nationals finals slated to be held on campus on the 22nd of December. Last year’s judges comprised of MDs and Partner’s of some prominent VC funds in the country such as PI ventures and Acumen fund and this year’s edition promised to be even better. After much deliberation and dedication, the winning team was the group from ISB Hyderabad. The second position was taken by the in-house talent of Team Schrodinger’s Cat, while the team from IIM Ahmedabad came third. The competition was fierce and every team played to the best of their abilities making it one of the most intense events of the year on the campus that provided much exposure and experience to the participants.
Ishita is a student of PGP 2018-2020 batch of IIM Bangalore and a member of the Venture Capital society.