• How many members are allowed in a team?
  The teams must have five members each.
  
• Can the team be from the second year of MBA?
  This decision falls within the purview of the participating school. All enrolled graduate students, not just MBA candidates, are eligible, including executive MBA students. The only caveat is that students who are current full–time or half–time paid employees of a venture capital firm are not allowed to participate.
  
• How can we select the top team?
  A school can send only one team for the Asian Region. A team of five students can be nominated to represent your school. If more than five students wish to participate, depending on the number of enthusiasts, the school can either conduct an Internal VCIC competition among teams to select the best team or conduct a case study analysis competition. In case you fall short of time to organise the Internal VCIC, you can always resort to the case study/nomination route to ensure representation at the Asia Region. However, we would encourage you to organise an Internal VCIC to ensure that the winning team gets feel of the event before it participates at the Asia Region.
  
• What is the deadline by which our school has to submit the details of the selected team?
  The schools are required to submit details regarding their respective teams by December 10, 2009. We will require names of all team members, email addresses and contact numbers. We will also require the teams to specify a ‘team leader’ who would be our point of contact.
  
• How many teams will we compete against at the Asia Region?
  There will be six teams competing against each other at the Asia Region.
  
• What facilities will ISB provide us?
  Accommodation and food will be provided to the participating teams by ISB. All other expenses, including the travel cost have to be borne by the individual schools or participants. The winner of the Asia Region will get an opportunity to participate in the International Finals at the University of North Carolina held in April each year. The winning team would bear travel expenses in this regard.
  
• Is there any prize money for the Asia Region?
  Yes, there will be a cash prize of INR 150,000 for the winner, INR 75,000 for the runner-up and INR 25,000 for the Entrepreneur’s Choice Award.
  
• Can faculty or staff person or students accompany the team as observers?
  Teams are encouraged to bring a faculty or staff person as an observer. Advisors are welcome to observe all aspects of the event, including judging sessions. Advisors cannot assist the team in any way and must avoid communicating with the team until after the competition. Student observers are prohibited except by permission of VCIC HQ, generally only given when a school is considering becoming a new regional host.

• Are there any conditions we need to fulfill while organising an Internal VCIC?
  Please note that VCIC is a copyright of the University of North Carolina (Kenan-Flagler Business School).Their terms and conditions must be followed while organising the Internal VCIC, which stipulate that you acknowledge the UNC Kenan-Flagler Business School at your internal competition.
  
• We want to organise an Internal VCIC, where can I get details on how to organise the event?
  Complete help to conduct an internal VCIC is available at http://www.vcic.unc.edu/organizers.internal.asp You will be required to register before you obtain the password. In case you need any clarifications or help, you can get in touch with Rajesh Goradia or Sarfaraz Agboatwala , VCIC Coordinators, at the Indian School of Business.
  
• Can we have B-Plan enthusiasts pitching as entrepreneurs?
  We would advise against it. The learning at the VCIC will be far richer if the entrepreneurs selected are those who have a running business and who are currently seeking funding.
  
• How many entrepreneurs do we need to invite for our Internal VCIC?
  Around two or three entrepreneurs is ideal. The more the entrepreneurs the more the effort the students would have to put in to decide on the entrepreneur to invest in. Since the teams are under tremendous time pressure inviting more entrepreneurs to the event will diminish their experience.
  
• How many VCs should we invite to the event?
  The VCs are mapped to entrepreneurs; hence if you invite three entrepreneurs to the event, you would want to invite at least six VCs to the event in order to ensure that there are two VC judges per entrepreneur. Inviting more VCs to the event will add more value for the entrepreneurs. The greater the number of VCs, the greater will be the incentive for entrepreneurs to attend the event.
  
• Are participants required to sign NDAs before the event?
  Yes. The format for the same is provided in the Organiser’s Manual on the VCIC website. All participants at the Internal VCIC and Asia Region, including organisers will be required to sign an NDA.
  
• How can students prepare for the competition?
  Please refer to the VCIC Player handbook available at http://www.vcic.unc.edu/students.login.asp

Please read through the handbook and if you have any further questions which are not covered in the handbook or this FAQ, please drop a mail to Rejo George. We will be glad to assist you. Team VCIC Indian School of Business, Hyderabad