Organizing an internal event is the best way BY FAR to prepare for the regional finals.
Going through the VCIC process is surprisingly helpful for teams that will be competing at the regional finals. Further, using an event as the vehicle for your training gives you and your program a marketing opportunity. Plus, more students get to participate in VCIC, thanks to you.
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.
- See resources provided by VCIC HQ to help with all of these.
Can the organizer compete, too?
Yes. If you are a student running an internal VCIC event, we recommend that you hold your internal event for 4-5 person teams and plan on being the 5th or 6th 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).
VCIC-Lite
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)
Virtual VCIC
True, VCIC is best in person. But virtual works really well, too! We estimate it’s about 80% of the value for about 20% of the investment. Benefits of a virtual internal VCIC:
- Founders and investors can be from anywhere, particularly helpful if you have a very small startup/VC community.
- No need to reserve classrooms and study rooms, particularly helpful on campuses that are resource constrained.
- You don’t have to feed anyone!
- No printing!
- See VCIC Virtual Event Checklist