VCIC INSTRUCTIONS
Entrepreneur Coordinator
Recruiting Entrepreneurs
For many hosts, the most stressful part of hosting a VCIC is the
uncertainty inherent in recruiting two or three early-stage
entrepreneurs. Unfortunately, no matter how early you begin
recruiting, you will inevitably have last minute stressful changes.
Be prepared to roll with the punches – running VCIC is an
entrepreneurial venture! By Wednesday when you email teams,
you will need two business plans to give to students.
Selection Criteria
 Currently seeking funding
 From a variety of industries/sectors
 Unknown to students
 Generally, student plans are not a good fit
TIPS FOR RECRUITING
 Cast a wide net by announcements
directing entrepreneurs to the VCIC.org
website where entrepreneurs may apply.
 In addition to wide net, specifically target
a few good prospects and directly invite
them (they don’t have to “apply”).
 It is difficult to get commitments more
than a month in advance, but it is good to
plant the seeds early.
 Recruit a few judges first: having their
firm names to toss around helps, plus you
can ask them for suggestions (usually
deals they passed on but thought were
interesting).
 Students who have interned at nearby VC
firms often know the best deals.
 Regional venture fairs are a great source
– invite their deals to practice at your
VCIC.
 Use the “1 out of 4” pitch: a fourth of the
entrepreneurs who have ever pitched at
VCIC have gotten funded.
Benefits to Entrepreneur
 Gain access to VC judges
 Practice pitch in front of a large, highly educated audience:
students, judges, volunteers, advisors and spectators will be
on hand
 Free consulting in the form of due diligence with top business school students
 Receive written deliverables from teams
Needed from Entrepreneur
 Full business plan with financials (time is too crunched
for teams to understand opportunity without a full plan)
 10-minute pitch
 Several hours of due diligence
NOTE ABOUT THE FUND PROFILE
Students will be given a fund profile for the
competition (Fund Profile.doc). You will need to
adjust the fund profile to match the entrepreneurs
you recruit. For example, don’t use a $200M fund
if you have seed deals, or $20M if you have a
company seeking $5M.
Entrepreneur Recruiting Worksheet
Entrepreneur Name
Company
Email
IT/Bio/
Other
Date
Invited
Date
Confirmed
VCIC® – An entrepreneurial education experience created by UNC Kenan-Flagler Business School
©2010 All Rights Reserved
Notes
Core Committee.doc
VCIC INSTRUCTIONS
Entrepreneur Coordinator Instructions (cont’d)
During Event
8:30 a.m. – Set up
 Greet entrepreneurs and walk them through technology test. Load their presentation and
make sure they know how to use remote, mic, etc., as necessary.
9:00 a.m. – Entrepreneur presentations
 Have water ready for presenters.
 Coordinate the flow of presentations: load each presentation as one ends and another beings.
 Time entrepreneur presentations – 10 minutes, gently enforced. Use dedicated laptop with
VCIC Timer 10.ppt placed so that entrepreneur can monitor time.
 Lead entrepreneurs to their rooms for due diligence.
 Make sure entrepreneurs have Team Photos.doc before due diligence begins.
 Keep water and snacks flowing through due diligence.
 Direct entrepreneurs to lunch with judges after due diligence.
9:30 a.m. – Bathroom break
 Encourage entrepreneurs and judges to visit the restroom before due diligence begins.
10:00 a.m. – Due Diligence Sessions
 You will need a volunteer in each room and you should act as overall coordinator to keep
everyone on time. Do not be shy about keeping things moving.
 Each volunteer is to act as host in the due diligence session, including bringing teams in and
out, timing the sessions, and making sure entrepreneurs and judges are comfortable.
 Teams are allowed to quickly shake hands with entrepreneur (not judges!) as they arrive
before timer starts.
 Use supplied VCIC Timer 15.ppt on projector or your laptop so that it is visible to teams.
Turn on PC sound to hear chime at the end of the timer.
 When timer ends, a hard stop must be enforced, even if in mid-sentence.
 Teams may thank entrepreneur and quickly shake hands before leaving.
 Ask entrepreneur and judges if they are ready to receive the next team. Keep it moving.
 Make sure entrepreneur has plenty of WATER and caffeine.
Noon – Entrepreneur/VC Lunch
 GET VOTING ENTREPRENEURS’ FORMS (prior to negotiations)
 Direct entrepreneurs to lunch with VCs.
 Encourage entrepreneurs to use the session for networking.
1:00 p.m. – Negotiations
 Give entrepreneurs copies of term sheets only (not executive summaries)
VCIC® – An entrepreneurial education experience created by UNC Kenan-Flagler Business School
©2010 All Rights Reserved
Core Committee.doc