VCIC day #1 wrapping up (due diligence phase)
The first day, and first phase, of VCIC is about to wrap up for the day. All 5 entrepreneurs presented this morning, and throughout the day, the 13 teams then had individual Q&A sessions with each of the entrepreneurs.
Phase two begins tomorrow. Term Sheets are due by 9 am (EST). Each team then goes into the Partner Meeting phase. They have to justify their investment choice and *then* why they’re not investing in the other four. Judges choose 6 of the 13 teams to continue to the negotiations phase (phase three). 1st and 2nd place will then be awarded.