DATE: February 18, 2008

A team of five MBA students at the University of Washington’s Michael G. Foster School of Business has won the Silicon Valley Regional Venture Capital Investment Competition (VCIC).

"Tegra Venture Group," as the Foster team called itself for the competition, was comprised of first-year MBA student Topher Sabella and second-year MBA students Ashita Achuthan, Kien Ha, Paul Meighan and Stuart Young.

In the VCIC, student teams assume the role of venture capital firms, evaluate real-world business plans and make investment allocation decisions. They then defend those decisions before an exacting panel of actual venture capitalists.

After weighing several options, Tegra decided to invest a modest slice of its $50 million fund in an early stage clean energy firm that is attempting to produce thermoelectric devices that directly convert heat into electrical energy in automobile engines.

More than specific decisions, according to Ha, the VCIC judges were impressed with the winning team’s interaction with each other and the entrepreneurs, its deep analysis and its ability to deliver a professional, convincing executive summary and term sheet.

The Silicon Valley regional competition, held at Santa Clara University February 8, was one of eight preliminary rounds – seven regions of the United States and one covering Europe.

The regional victory qualifies the Foster team for the international VCIC final round April 17-19 at the University of North Carolina Kenan-Flagler Business School.

Foster School of Business MBAs won the international VCIC in 2004 and 2006.

The Foster team has received considerable backing from the UW Center for Innovation and Entrepreneurship, which introduced the students to its vast network of venture capitalists, angel investors, attorneys and other experts from the Northwest entrepreneurial community. Emer Dooley, a lecturer in entrepreneurship, and Susan Sigl, general partner at SeaPoint Ventures, taught the Center’s VCIC course and provided heavy preparation. Additionally, the team received invaluable feedback and expert advice from Loretta Little of WRF Capital, Rebecca Lovell (MBA 2006) of Alliance of Angels, Randall Lucas of Voyager Capital, Tim Porter of Madrona Venture Group, Dan Rosen of Dan Rosen & Associates and Alliance of Angels, and Adrian Smith of Ignition Partners, each of whom served as judges in the School’s intramural venture competition.