FSB students continue winning tradition at Venture Capital Investment Competition
Team to complete in Global Finals in April
FSB students continue winning tradition at Venture Capital Investment Competition
While all eyes are on the Miami University men’s basketball team’s string of victories this season, a team of Miami University students has helped continue another winning streak.
A group of Farmer School of Business students has won the East Regional round of the Venture Capital Investment Competition (VCIC) for the 10th consecutive year. The team of Elena Hentz, Liam McAllister, Logan McGuire, Tommy Sullivan, Tyler Williams, and Shayla Williamson competed Feb. 20-22 at the University of Florida’s Warrington College of Business.
“When I was approached last fall about being on the team, it was an automatic yes – there's nothing comparable to this type of experience of hands-on immersive application that VCIC provides,” Hentz said.
“Seeing past VCIC teams’ success and hearing from the team members directly, I knew what a special opportunity it was to be a part of the VCIC program at Miami,” McCallister said. “I have done multiple internships in the VC industry, and I knew that being a part of the VCIC team would be a great way to build on the VC foundation that I’ve developed.”
In the VCIC, venture capital investment teams assume the identity of a venture firm. On the first day of the three-day competition, each student venture team receives a profile of the firm’s venture fund and business plans for three seed stage companies. Teams are given 36 hours to conduct due diligence of the companies, their founders, and the market, then prepare a term sheet for an investment in one of the companies.
On the final day of the competition, teams evaluate pitches made by each company and participate in a one-on-one Q&A with the founder or founders, after which teams have two hours to finalize their investment decision. Each team defends its investment recommendation to a panel of current venture capital investors who assess each team’s investment decision and logic and then negotiate final terms with the founders of the selected company.
“The struggle of tackling these types of complex decisions under real-time pressure is actually enjoyable,” Hentz said. “I've learned so much about networking, importance of industry calls, and working under significant time restraints. Above all, I've learned how to trust my team and lean into our individual strengths. Each of us have a unique skillset we bring to the team and this experience has reinforced the concepts of owning our strengths and relying on one another to succeed.”
“During our due diligence, it was crucial that we talked to industry experts, and we had so many people make themselves available at last minute’s notice on a Friday to help us,” McCallister said. “That showed me the strength of the Miami community and alumni network.”
The Farmer School team’s efforts beat out teams from Georgia Tech, Emory, and the Air Force Academy.
"It was a privilege to see this team in action - they balanced tremendous intensity and focus with a fantastic spirit of fun. I was inspired by their deep collaboration, which allowed them to work together seamlessly for a really strong performance from start to finish," assistant lecturer of Entrepreneurship Theresa Sedlack said.
Miami students that participate in the VCIC are required to complete the Department of Entrepreneurship's 10-week Venture Capital Immersion program with Sedlack that immerses them in venture capital concepts, terminology, and practices. Founders, investors, and mentors across the Miami University alumni network and Startup Cincy ecosystem help the team prepare.
“It doesn't feel like your typical class -- it's energizing even during the late nights, early mornings, and competition timeline. Working with this team has been so meaningful. We have a strong well-rounded dynamic and a deep sense of trust in one another,” Hentz said. We are so fortunate to have someone like Professor Sedlack coaching our team; the level of preparation and support she's given our team really elevates the entire experience and sets our team up for success.”
“I really appreciate how much work our professor has put into this program, as it was evident during the competition that we were certainly the most prepared team,” McCallister said. “Having professors like this is what makes the Miami experience so enriching and has led to so much applicable learning.”
Teams from Miami have won the regional competition every year that the competition has been held. The team will now move on to the Global Finals at the University of North Carolina on April 17-18.
