Sobey School of Business students take second place in the Boston Venture Capital Investment Competition.

Saint Mary’s Hosts Prestigious International Event

By Maroon & White | spring 2018

Six student venture capital groups from across the country recently met at Saint Mary’s University for the inaugural Canadian Venture Capital Investment Competition (VCIC).

VCIC is a prestigious international event, with more than 75 universities from around the world competing annually; Saint Mary’s just became the permanent host for the Canadian competition.

“It’s very exciting for us to be the home of Venture Capital Investment Competition in Canada,” says Dr. Ellen Farrell, CIBC Professor of Entrepreneurship and Venture Development in the Sobey School of Business.

“It’s not all about starting businesses; it’s about teaching an entrepreneurial mindset,” explains Dr. Farrell, a coach with Venture Grade, a student-led venture capital fund that works alongside seasoned investors to finance Atlantic Canadian start-up companies.

“If students learn about venture capital at the same time they’re learning about entrepreneurship, they will be better equipped to attract good investments and build successful companies.”

Helping to foster innovation, VCIC connects some of the nation’s top financiers with budding entrepreneurs.

“Saint Mary’s University is a national leader in business education, and we look forward to the opportunities for mentorship, innovation, and the creation of global connections that this competition provides,” adds Saint Mary’s University President Dr. Robert Summerby-Murray.

The one-day VCIC emulated the investment process. Student teams heard presentations from actual entrepreneurs looking to polish their real-life funding pitches; taking on the role of venture capitalists, the students then invested a fictional $100 million into their favourite business idea.

As host of the Canadian VCIC, Saint Mary’s couldn’t compete in Halifax. Instead, with the support of corporate and private donors, they contended in Boston against teams from the Massachusetts Institute of Technology, Yale University, Dartmouth College, and the University of Rochester. After a tie-breaking challenge with Rochester, Saint Mary’s brought home a second place finish.

Campus Notes: “I give because I believe in Saint Mary’s University.”

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