THE FRANK HAWKINS KENAN INSTITUTE OF PRIVATE ENTERPRISEThe Kenan-Flagler Business School at The University of North Carolina at Chapel Hill www.kenaninstitute.unc.edu

CENTER FOR ENTREPRENEURSHIP AND TECHNOLOGY VENTURING

www.cetv.unc.edu

Preparing for the VCIC

Jeff Reid

Amanda Deerhake

January 9, 2003

THE FRANK HAWKINS KENAN INSTITUTE OF PRIVATE ENTERPRISEThe Kenan-Flagler Business School at The University of North Carolina at Chapel Hill www.kenaninstitute.unc.edu

CENTER FOR ENTREPRENEURSHIP AND TECHNOLOGY VENTURING

www.cetv.unc.edu

First, a note on Team Formation

• Teams are already set• Approximately 16 teams signed up• Incomplete teams will not be allowed to compete

Make sure your people are committed!

• Work with Patrick Vernon on team formation issues

THE FRANK HAWKINS KENAN INSTITUTE OF PRIVATE ENTERPRISEThe Kenan-Flagler Business School at The University of North Carolina at Chapel Hill www.kenaninstitute.unc.edu

CENTER FOR ENTREPRENEURSHIP AND TECHNOLOGY VENTURING

www.cetv.unc.edu

Global Overview of the VCIC

• 34 schools in this year’s event• Internal: January 31 – February 1• Regionals:• UNC goes West: February 20-22

– (UNC hosts SE: February 27-March 1)• UNC hosts Finals: April 10-12• History of UNC performance

THE FRANK HAWKINS KENAN INSTITUTE OF PRIVATE ENTERPRISEThe Kenan-Flagler Business School at The University of North Carolina at Chapel Hill www.kenaninstitute.unc.edu

CENTER FOR ENTREPRENEURSHIP AND TECHNOLOGY VENTURING

www.cetv.unc.edu

Know the Schedule

• Plan your time wisely!

THE FRANK HAWKINS KENAN INSTITUTE OF PRIVATE ENTERPRISEThe Kenan-Flagler Business School at The University of North Carolina at Chapel Hill www.kenaninstitute.unc.edu

CENTER FOR ENTREPRENEURSHIP AND TECHNOLOGY VENTURING

www.cetv.unc.edu

What the Judges Look For

• Basic understanding of the companies• Basic understanding of how VC deals work• Ability to communicate your thoughts

Don’t worry about the technical details, unless you are an expert

THE FRANK HAWKINS KENAN INSTITUTE OF PRIVATE ENTERPRISEThe Kenan-Flagler Business School at The University of North Carolina at Chapel Hill www.kenaninstitute.unc.edu

CENTER FOR ENTREPRENEURSHIP AND TECHNOLOGY VENTURING

www.cetv.unc.edu

Do Some Homework

1. Books in CETV Library – on reserve from now until the competition

2. VCIC web site – Team Preparation Guide, Judging Criteria, etc.

3. Other web sites

THE FRANK HAWKINS KENAN INSTITUTE OF PRIVATE ENTERPRISEThe Kenan-Flagler Business School at The University of North Carolina at Chapel Hill www.kenaninstitute.unc.edu

CENTER FOR ENTREPRENEURSHIP AND TECHNOLOGY VENTURING

www.cetv.unc.edu

Read Up on Venture Capital

• VC Club Web Site: http://www.kenaninstitute.unc.edu/Centers/CETV/Clubs/VC_Club/Resources/resources.html

• www.corante.com/venture/ • ww.venturewire.net/• A Venture Capital Primer by Tripp Peake, Mass Ventures Equity Fund -

http://www.entrenetwork.com/articles/39.cfm • Good Idea? Great Idea? Super Idea? By Stephen Spinelli, Director of the Center for

Entrepreneurship at Babson College - http://www.entrenetwork.com/articles/45.cfm• Business Valuation Techniques and Negotiation by Mark Cameron White of White & Lee

LLP - http://www.whiteandlee.com/papers_transactions_bvtn.html • What Are the Terms? - Three part series on the terms of venture capital financings - from

"STARTING UP" Column Reprints by Joe Hadzima - http://web.mit.edu/entforum/www/hadzima/terms1.htm

• "Company Valuation Issues for Technology Start-ups by David Sheehan http://www.dcu.ie/enterprise/presentations/hotorigin14jan02.pdf

THE FRANK HAWKINS KENAN INSTITUTE OF PRIVATE ENTERPRISEThe Kenan-Flagler Business School at The University of North Carolina at Chapel Hill www.kenaninstitute.unc.edu

CENTER FOR ENTREPRENEURSHIP AND TECHNOLOGY VENTURING

www.cetv.unc.edu

Questions – Other Hints