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Global Venture Labs Investment Competition
December 10, 2019

The Venture Labs Investment Competition (VLIC) is designed to mimic the real-world process of raising venture capital. The competition allows graduate students to gain real experience while developing and growing new ventures based on their own ideas and technologies or those developed by others.

Description
The spirit of the competition is to allow companies conceived and developed during the graduate school experience to participate. This means excluding companies that were started before graduate school admission or are an expansion of an established business.
The competition focuses on new, independent ventures in the seed, start-up or early growth stages. In addition to what is outlined in the above paragraph, generally excluded are the following: buy-outs, expansions of existing companies, roll-ups, real estate syndications, tax shelters, franchise based outlets, licensing agreements for distribution in a different geographical area and spin-outs from existing corporations. Licensing technologies from universities or research labs is encouraged assuming there has been no previous commercialization. Key in these types of ventures is demonstrating significant added value to the technology through the efforts of the management team.

Outcome
2015 winner: Inscope Medical Solutions, University of Louisville

Nature of Ventures
Ventures must intend to be operating companies with corporate structures and financial statements that reflect real operating revenues and expenses. This is intended to exclude investment vehicles, partnerships, licensing and other pass-through entities where returns are measured for investment value versus operating earnings.

The competition focuses on new, independent ventures in the seed, start-up or early growth stages. In addition to what is outlined in the above paragraph, generally excluded are the following: buy-outs, expansions of existing companies, roll-ups, real estate syndications, tax shelters, franchise based outlets, licensing agreements for distribution in a different geographical area and spin-outs from existing corporations. Licensing technologies from universities or research labs is encouraged assuming there has been no previous commercialization. Key in these types of ventures is demonstrating significant added value to the technology through the efforts of the management team.

All ventures must be seeking outside equity capital thus it is expected that their business plan and presentation will be investor ready.

Team Composition
These are competitions designed for graduate students; however, teams with a minority of undergraduates can still compete but must conform to the graduate student majority rule during actual competitions. Students from any graduate program—not just MBAs—are eligible to participate, including executive and evening format programs.

Each team is limited to five presenting members and one faculty advisor. Each of these members must take an active role, i.e. they must deliver part of the presentation and participate fully in the question and answer section.