Hosting international competition puts spotlight on Sobey School of Business
On March 6, Saint Mary’s University was proud to host the ninth annual VCIC Canada regional competition.
Dr. Ellen Farrell. Photo: Katie Murray
“For me, this is a pinnacle in the competition landscape in Canada,” said Dr. Ellen Farrell, professor of management at the Sobey School of Business and VCIC organizer. “It’s international, it’s well-organized, it’s professional. We’re going into our 10th year. This is sparking the Atlantic VC ecosystem into national attention.”
VCIC is a layer cake
A Venture Capital Investment Competition (VCIC) is like a layer cake. From the top down, the three layers are entrepreneurs, students and judges.
High-performing founders are recruited to pitch to a group of students and VC judges for funding. The students, who compete as teams from across the country’s best universities, evaluate the founders. The third layer, the judges, are venture capitalists from eastern Canada, who then evaluate the student VCs.
Over the course of one full day, the student teams participate in three events. The student VC teams conduct due diligence with the founders, prepare a term sheet, and then defend their decision to the VC judges.
At the VCIC Canada competition, the presenting entrepreneurs were six founders from across a range of startups:
Jennifer Johnston, MD, founder of Elle MD, Biotechnologies
Katie Carpenter, a multi-exit entrepreneur and founder of Lunavii
Maricel Alcantara, founder of Quest Jobs
Ranah Chavoshi, co-founder and CEO of PhyCo Technologies
Garnette Weber, co-founder of Ethnomet
Diane Hollett, founder and CEO at NL Marine Organics
This year’s undergraduate competition included teams from six universities across Canada, including the University of Guelph, University of New Brunswick, and the Lazaridis School of Business & Economics at Wilfred Laurier University. Acadia University ranked third in the competition, with University of Waterloo taking second and University of Alberta earning first place.
The graduate competition included teams from the University of New Brunswick and Dalhousie University, along with the third-place team from the University of Alberta, the second-place team from the Rotman School of Business at the University of Toronto, and the first-place team from the Smith School of Business at Queen’s University.
The Sobey School of Business was pleased to have three VCIC alumni among the 20 judges—Alejandro Sanchez-Avila from Deloitte, Kory Henn from RBCx, and Ugochi West from CEED. See the full list of judges’ profiles, along with competitor names at 2026 Undergraduate Canada (Sobey) – VCIC or 2026 MBA Canada (SMU Sobey) – VCIC.
Building the VC ecosystem in Canada
Organizing a VCIC is highly complex, with multiple stages and layers that need to be coordinated. A team of 15 volunteers supported the organizing committee in finding the right entrepreneurs and high-quality judges for the competition.
“The event is well-coordinated with our Master in Technology Entrepreneurship & Innovation (MTEI) degree program, where Venture Capital is the nexus of technology entrepreneurship and finance,” said Dr. Ellen Farrell.
Farrell sees the international Canada VCIC as integral to her longer-term vision of building the VC ecosystem in Canada and particularly in the Atlantic region. She describes the virtuous circle of benefits to all the types of participants: “The entrepreneurs are pitching in a room with venture capital professionals; the students practice their due diligence and analytical skills and can win prizes; and the judges get insight into innovative startups, plus an early look at potential new hires. Everyone is contributing to the VC ecosystem.”
