Venture Cup case companies under Full Time MBA investor scrutiny

Skrevet af Andreas B. ChristiansenChristian Scheel TostFelix Kasperek, translation - Foto: Kristian Boysen - 9. marts 2012 - 13:110 kommentarer
’Miracle Makers’ – Matt Corker, Julian Hoennebeck, Servio Cabrera, Martin Jørgensen and Fredrik Harboe – are going to Oxford to compete in the VCIC-finals on March 16th.

A team of Full Time MBA students from CBS are going to Oxford to demonstrate their skills as venture capitalists in the making, after winning the first Venture Capital Investment Competition in Denmark

Full Time MBA students screened alumni companies
In the beginning of February, six teams of Full Time MBA students at CBS participated in the Danish Venture Capital Investment Competition (VCIC). They were given the business plans of three Danish entrepreneur companies with growth potential : wavesOut, Biolab and Retap. The three were selected by the students behind the VCIC-initiative at CBS in collaboration with Venture Cup (Danish entrepreneurship competition) alumni and the six member jury consisted of professional venture capitalists from Danish companies attached to Vækstfonden (‘The Growth Fund’, a state investment fund); Northcap Partners, Novo Seed A/S, Sunstone Capital, Executive Capital and Seed Capital.

- The students were very excited to participate in the VCIC case competition. It was professionally carried out and offered an excellent opportunity to demonstrate both analytical, negotiation and presentation skills as well as using both previous work experience and academic learning from the program. Everyone agreed that the VCIC case competition should become a permanent activity in the program, says Michala Røder, Program Manager for the Full Time MBA program at CBS.

Business plans, people and ideas up for review
The participating MBA students had approximately 36 hours to do their due diligence analysis on the three business plans, after which they would meet up for the finals on Saturday February 4th.

Here, the participating teams put the representatives from each of the three companies through a due diligence interview under the watchful eyes of the jury, who were to evaluate the teams’ venture capitalist-related skills and teamwork . The interviews were conducted with a time-limit, to create a pressure that forced the participants to cut right to the bone.

After the interviews, the teams had to decide which company they would offer to finance with venture capital. The final round of the competition, the negotiation round, was open for anyone who might be interested. This was held in the beautiful Råvarebygning in Porcelænshaven, the home of CBS’ Full Time MBA program.

‘Miracle Makers’ took the prize – to Oxford
The Case Competition for venture capitalists in the making ended with two awards — ‘The Entrepreneur Award’ and ‘The Jury’s Award’— being given to the same outstanding team, ‘The Miracle Makers’, composed of Matt Corker, Julian Hoennebeck, Servio Cabrera, Martin Jørgensen and Frederik Harboe. The four Full Time MBA-students will be going going to Oxford (University?) to compete in the VCIC finals on March 16th.

According to the jury members, ‘The Miracle Makers‘ won because, among other things, the team didn’t just focus on the financial aspects of the business plans, but also on the organizational and human aspects of the companies. The latter is very important since, according to the judges, investors are basically entering into a long marriage with the venture capitalists.

Over the course of the competition, it became evident that ‘The Miracle Makers’ had spent a lot of time preparing and creating a team in which the members complemented each other well through the different processes of the due diligence analysis and interviews and final negotiations.

A case competition with a little extra something
Among the many case competitions available to CBS students, VCIC stands out because, according to the organizers:

- Every case competition has its own touch and focuses on something special; VCIC is a case competition that not only puts a lot of weight on entrepreneurship but also on the crucial financial part that’s the foundation of any good idea for a business. Since we work with real business cases, the participants acting as venture capitalists and the entrepreneurs both learn a lot, says Ditte Torsbak Meyer, student of the MSc BA EMF program, one of the three CBS students in the competition.

Volunteer effort with a professional attitude
The team of students behind establishing the the VCIC-competition at CBS strive to spread knowledge of the venture-environment among CBS-students and potential growth companies. For example, the case companies have been chosen in collaboration with the Danish entrepreneur competition known as Venture Cup that has a large base of alumni companies with large growth potential. This is a collaboration that aims to help Venture Cup’s alumni companies make the jump from good idea to rising star .

The team behind VCIC hopes to be able to create an even larger and better event next year, and is already planning next year’s competition:

- Even though this year’s competition went really well, there are still lots of things we can improve. This year was the first year of the competition at CBS and we’ve learned a huge amount of things that we hope to be able to use next year, says Ditte Torsbakke Meyer.


Venture Capital Investment Competition
VCIC is an American concept, started back in 1998 , where MBA and grad students act as venture capitalists under the watchful eye of an experienced jury. The VCIC competition at CBS is the first time the competition has been held in Denmark, arranged on a volunteer basis by Andreas B. Christiansen, student in the MSc BA AEF program, Christian Scheel Tost and Ditte Torsbakke Meyer, student in the MSc BA EMF program.