This spring, students from the School of Accounting and Finance (SAF) travelled to Halifax, Nova Scotia where they competed in the Venture Capital Investment Competition (VCIC). This year, the team consisted of six team members, all of whom have been on the Student Venture Fund. Representing Accounting and Financial Management are Aidan (4A), Alicia (4A), Kai (3B) and Michael (3B). Other team members include Gurleen (4B Arts and Business) and Quynh-Anh (4A Biotechnology/Chartered Professional Accountancy).
The VCIC is a fast-paced simulation that gives students insight into what it’s like to make an early-stage investment. Over the span of three days, the team performed a quick evaluation of three start-ups in order to prepare for due diligence sessions and develop an investment recommendation. Analysis included both qualitative market research and quantitative modelling of future company performance and investor ownership.
On competition day, the team spoke to the startup founders and dug into their business models and fundraising dynamics. These interviews helped to inform their investment recommendation that was presented to a panel of ‘partners’, during which they were given the opportunity to defend their thesis. The students gained valuable experience by being challenged on both their choice of recommended investment target and investment amount.
The SAF team placed second in Canada and left Halifax having learned more about the importance of taking risks in competition. Now, they're ready to think outside the box and are excited for the University of Waterloo to return to the competition next year, even stronger!