Rules

Each university enters one team, which acts as a venture capital firm. On the day, three real deep tech startups pitch; each team chooses one to back and defends that decision before practising investors across three scored rounds.

Two days before each round, once every team member has signed the confidentiality agreement, teams receive the pitch decks of three real startups and a fund profile: the imaginary VC firm they act for, with its size, stage and focus.

One file containing a one-page summary of all three deals and the decision, a one-page term sheet for the chosen startup (amount, pre-money valuation, key terms), and up to two pages of appendices. Due at 13:10.

• After each round, every judge names their top three teams: 3, 2 and 1 points. The team with the most points across the three rounds wins.
• Ties are broken by the judges’ ranking in the panel partner meeting.
• Judges look for how teams handle technical risk, IP and grant funding.
• The judges’ question is simple: which team would you hire?

Team

5–6 competitors from one university, plus up to 2 observers who do not compete. One team per university.

Level

Enrolled in a bachelor’s, master’s or PhD programme, or graduated within the last six months. MBA and executive programmes are not eligible.

Experience

At most 2 years of full-time work outside research per competitor.

Mix

Each team needs at least one engineering or science member and at least one business or economics member. No more than half the team may be PhD candidates.

Conflicts

No current or recent (last 12 months) work at a VC or PE fund, angel network or corporate venture unit. Internships of up to 3 months are fine.

Past finalists

Past VCIC global finalists are not eligible.

• Before the day, teams may ask anyone for advice, except people connected to the startups.
• On the day, from 08:00 to 17:00, teams have no contact with anyone outside the team, coaches included. A breach means forfeiting.
• Teams compete under code names and do not reveal their university to the judges.
• A team that already knows a startup uses only the event materials.
• AI tools are allowed for a team’s own work; no confidential startup material goes into them.
• Late written deliverables score zero in round 2.
• Appeals on procedure only, within one hour, to the organising committee.
• The judges’ decisions are final.

Startups are science-based companies raising a seed or first institutional round. They take part for free; no equity is taken and there is no prize money. Each provides an investor package (pitch deck, key financials, amount being raised and valuation expectations) under a confidentiality agreement, and its founders present on the day: a 10–12 minute pitch, then a 14-minute Q&A with each team. The startup that receives the most term sheets is named Most Investable Startup.