A group of business students from Miami University
scored big in the first round and took home $1,000 at the regional Venture Capital Investment Competition
, held in Chicago. Miami was the only school in Ohio and one of only seven schools in the Midwest to get an invite.
The VCIC is an invitation-only international competition that's carried out over two rounds: a preliminary round held in five different regions with 6-8 schools and a finals round with winners from each region competing for the international title. Student teams act as institutional investors representing a venture capital firm.
Teams are given business plans from three real-world startups, as well as information about the venture capital firm they're representing and a profile of the venture fund from which they're going to make their investments. Teams then have 36 hours to conduct research, analyze the market and prepare questions for a Q&A with the founders. On the final day of the competition, teams listen to and evaluate each startup’s pitch presentation and conduct a one-on-one interview with the founder of each company.
With the regional victory, the team competed in the finals round of the competition this past weekend in Chapel Hill. At the international competition, the Miami team took home second place.
Read more about the competition here.