Students at the University of Washington’s Foster School of Business are gaining invaluable hands-on experience in venture capital through an innovative 10-week course that culminates in a high-stakes competition. The program, which provides participants with
comprehensive exposure to the venture capital industry, recently celebrated a significant achievement as UW students secured third place in the global finals of the Venture Capital Investment Competition (VCIC) – their strongest showing since 2015.
The course challenges students to develop practical skills by assuming the role of venture capitalists. In a intense 36-hour exercise, participants evaluate real startup pitches and make investment decisions, mirroring the fast-paced environment of actual VC firms. This year’s successful team brought together diverse talents, including PhD candidates in biotech and biochemistry, along with experienced engineers and product leaders.
James Newell, a Managing Director at Voyager Capital and UW alumnus, has been instructing the MBA course for seven years. Newell, who played football during his time at the university, noted that this year’s team stood out for their ability to quickly grasp and apply VC concepts despite having no prior industry experience.
The curriculum covers essential aspects of venture capital, including financial analysis, cap table evaluation, intellectual property assessment, term sheet review, and due diligence processes. Beyond these technical components, students also develop crucial
interpersonal skills necessary for success in the field.
“The venture investing world isn’t solely about business metrics – it’s equally about people,” reflected Ankit Anand, a team member with previous startup experience. “The course revealed how venture capital is essentially a sales role in disguise, requiring investors to evaluate founders beyond initial traction and build meaningful relationships to secure optimal deals.”
For Fargol Araghi, a biotech PhD student, the experience provided valuable insights into startup evaluation from multiple perspectives. “We learned to assess various aspects of startups, from team dynamics and traction to risk factors and market size, all while making decisions under significant time pressure,” Araghi explained.
The program benefits from mentorship provided by established investors from the Seattle area, offering students direct access to industry expertise. Nick Bedbury, a former startup founder, described the VCIC competition as the most challenging yet rewarding component of his MBA journey, noting how it transformed his career outlook and inspired him to contribute to the local startup ecosystem.
The winning team included additional members Jaisav Bajoria, bringing automotive engineering and product leadership experience, and Ilya Veil, a biochemistry PhD candidate. This diverse mix of backgrounds contributed to the team’s success in the competition.
While not all participants will pursue careers in venture capital or startups, the course provides unique insights into innovation and investment decision-making. Students consistently rank it among their most valuable academic experiences, citing the practical skills and industry knowledge gained.
The program’s structure combines theoretical learning with real-world application, preparing students for the complexities of venture capital while fostering an understanding of the startup ecosystem. Through this hands-on approach, UW is helping bridge the gap between academic study and professional practice in the venture capital industry, while simultaneously strengthening the region’s
entrepreneurial community.
The success of this year’s team at the global VCIC demonstrates the effectiveness of UW’s approach to venture capital education and highlights the university’s role in developing the next generation of investment professionals.