Negotiations
Content
VCIC - Venture Capital Investment Competition
18/02/14 6:21 pm
NEW NEGOTIATIONS
Real Real Real Real Real companies. entrepreneurs. business plans. venture capitalists. strategic competition.
FOR
2009
NEGOTIATIONS REPLACE TEAM PRESENTATION
Rather than pitching to the VCs, this year teams will sit down one-on-one with the one entrepreneur chosen for investment to work towards a deal for 15 minutes, observed by all the judges and followed by a 10-minute Q&A with VC judges. As in years past, teams still turn in written deliverables: term sheet summary and executive summary. The judges see both. The entrepreneur only sees the term sheet summary -- so it is A STARTING POINT. Teams are not judged on getting to a deal, but on how they handle negotiations. Perhaps the best way to illustrate this is to show the actual judging criteria. 33% of your total score comes from the due diligence sessions. 67% of total score comes from executive summary, term sheet summary, negotiations and Q&A. Here are the judging criteria for that part of the competition: Backed the Right Horse for the Right Reasons Reasons to Invest Reasons not to Invest Overall Decision Right Terms Valuation Investment Size/Syndication Board Structure Option Pool Liq. Pref., Anti-Dilution, Dividends Dates and other terms Performance During Negotiations Focused on the important issues? Established positive rapport? Demonstrated firm’s value? Made progress toward a deal? How well did the team handle Q&A? Did they demonstrate a mastery of VC skill sets? Anything Else? (optional) Worked well together as a team? Other? ______________________
VCIC - a real-world, one-of-akind, unsurpassed MBA learning experience. Testimonials "VCIC was a fantastic learning experience. I would recommend it to any student interested in VC or start-up careers." Jason Lettmann Michigan 2006 For more information email VCIC
http://www.vcic.unc.edu/negotiations.html
Page 1 of 2
VCIC - Venture Capital Investment Competition
18/02/14 6:21 pm
For more assistance, download the VCIC Player Handbook.
VCIC® An entrepreneurial education experience created by UNC's Kenan-Flagler Business School. ©2009 All Rights Reserved
http://www.vcic.unc.edu/negotiations.html
Page 2 of 2
18/02/14 6:21 pm
NEW NEGOTIATIONS
Real Real Real Real Real companies. entrepreneurs. business plans. venture capitalists. strategic competition.
FOR
2009
NEGOTIATIONS REPLACE TEAM PRESENTATION
Rather than pitching to the VCs, this year teams will sit down one-on-one with the one entrepreneur chosen for investment to work towards a deal for 15 minutes, observed by all the judges and followed by a 10-minute Q&A with VC judges. As in years past, teams still turn in written deliverables: term sheet summary and executive summary. The judges see both. The entrepreneur only sees the term sheet summary -- so it is A STARTING POINT. Teams are not judged on getting to a deal, but on how they handle negotiations. Perhaps the best way to illustrate this is to show the actual judging criteria. 33% of your total score comes from the due diligence sessions. 67% of total score comes from executive summary, term sheet summary, negotiations and Q&A. Here are the judging criteria for that part of the competition: Backed the Right Horse for the Right Reasons Reasons to Invest Reasons not to Invest Overall Decision Right Terms Valuation Investment Size/Syndication Board Structure Option Pool Liq. Pref., Anti-Dilution, Dividends Dates and other terms Performance During Negotiations Focused on the important issues? Established positive rapport? Demonstrated firm’s value? Made progress toward a deal? How well did the team handle Q&A? Did they demonstrate a mastery of VC skill sets? Anything Else? (optional) Worked well together as a team? Other? ______________________
VCIC - a real-world, one-of-akind, unsurpassed MBA learning experience. Testimonials "VCIC was a fantastic learning experience. I would recommend it to any student interested in VC or start-up careers." Jason Lettmann Michigan 2006 For more information email VCIC
http://www.vcic.unc.edu/negotiations.html
Page 1 of 2
VCIC - Venture Capital Investment Competition
18/02/14 6:21 pm
For more assistance, download the VCIC Player Handbook.
VCIC® An entrepreneurial education experience created by UNC's Kenan-Flagler Business School. ©2009 All Rights Reserved
http://www.vcic.unc.edu/negotiations.html
Page 2 of 2
