5:00 p.m. – Receive Business Plans
You will receive business
plans by email at 5pm in the host school’s time zone.
Make sure you can receive business plans; some
university email systems catch it as spam. You have less
than two days to do a month’s worth of due diligence. It
is imperative that your team has a strategy for handling
this workload. During this time your team needs to:
-
Read business plans
-
Thoroughly research all
plans (do not dismiss a plan yet)
-
Fully prepare for due
diligence sessions, including a list of questions
and strategy for each entrepreneur
Thursday
Evening
– Recommended arrival time for traveling teams
Friday
8:00 a.m. – Team Orientation
9:00 a.m. – Entrepreneur Pitches
No questions are allowed
during the presentations. Slides are not distributed, so
it is important to take good notes.
10:00 a.m. – Due Diligence
After watching the
presentations, each team will have an individual
15-minute Q&A session with each entrepreneur. This
session is your chance to get any information you need
directly from the entrepreneur to make your decision. It
is also the first opportunity judges will have to watch
you perform, and each judge will only get to score your
performance with one entrepreneur (they can only be in
one place at a time). Hence, your team needs to be on
its game for all Q&A sessions. Think of these deals
as having been referred to you by a respected colleague
or a limited partner. Even if you know you cannot
fund the deal, you will have to explain your decision
thoughtfully.
1:00 p.m. – Written Deliverables
You only have a few hours
to make strategic investment decisions and finalize
deliverables (and eat lunch). The executive summary
covers all deals: why you did or did not invest. Make
sure it explains your investment decision. Try not to
use long list of bullets. Instead, prioritize to make
your message clear. You may have up to three pages of
appendices to further make your point (with graphs,
charts, comparables or whatever). Use the supplied Term
Sheet Summary template. Judges will receive both
deliverables; entrepreneurs will only see the Term
Sheet.
1:30 p.m. – Negotiations and Judge Q&A
(15
and 10 minutes, respectively)
You have 15 minutes to
demonstrate your VC abilities to the judges. You won’t
be judged on getting to a deal. See
Judging
Criteria for
specific criteria. Your entrepreneur will have a copy of
your term sheet summary (but not the executive summary
or attachments).
4:45 p.m. – VC Round Robin
After winners are
announced, each team gets one-on-one time with each
judge
5:30 p.m. – Networking Event
Past participants strongly
encourage you to take advantage of this networking
session.
Saturday Morning
– Recommended departure for traveling teams
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