Organizing an internal event is the best way BY FAR to prepare for the regional finals.
Even if you have just one entrepreneur come to pitch to two teams with two coaches watching, going through this process will be surprisingly rewarding. Further, using an “event” as the vehicle for your training gives you and your program a marketing opportunity. Below are some points to consider intended to help you realistically gauge whether or not organizing an internal event makes sense for your situation.
CHALLENGES TO CONSIDER
- Raising money — there is no cost associated with organizing an internal VCIC unless you choose to provide catering or prize money.
- Getting approvals as necessary from student organization or advisor.
- Choosing a date with as few conflicts as possible in late fall or early winter.
- Reserving classrooms and study rooms.
- Recruiting teams, entrepreneurs and judges.
SUPPORT FROM VCIC HQ
- Resources for organizers
- Organizer Check-List
- Advice for recruiting startups and judges
- Download all the files needed to run a VCIC event at www.vcic.org/files
- If you only have a couple/few teams, you can condense the VCIC format into a couple of hours:
- 30 Minutes: kick-off and 2 startup presentations
- 30-45 Minutes: due diligence rotation (12 minutes Q&A followed by 3 minutes judge Q&A)
- 30-45 Minutes: partner meetings (10 minutes per team)
CAN THE ORGANIZER ALSO COMPETE?
Yes. We recommend that you hold the event for four person teams and plan on being the 5th member on the team that goes to the region. Another option some schools use is to pick the team that goes to the region from top performing individuals (rather than sending the winning team, which is what most schools do).