Hey Entrepreneurs: Want Some VC Pitching Practice?
Regular readers know my praise for the Venture Capital Investment Competition (VCIC), in which teams of biz school students form faux VC partnerships and are judged on their due diligence, term sheet negotiation, decision-making and ability to present/defend their choices. In fact, I plan to again help judge the finals down in Chapel Hill this April. The entire process, however, relies upon the participation of entrepreneurs. The “teams” listen to elevator pitches, conduct due diligence and negotiate with real companies in search of funding. Not only is this good for the teams, but can provide great experience for entrepreneurs. Imagine getting grilled by a dozen VC “firms” in a day, and then getting to hobnob with actual VCs later on (the judges). Plus, around 25% of presenting companies ultimately get funded.
