Graduate Team: Top row (l-r): Ossama Nasrallah, Subburaj Karupppasamy, Shubhra Singh. Bottom row (l-r): Sayeda Nahabub, Spencer Doue
Undergraduate Team (l-r): Shashwat Duggal, Morgan Baker-Tucker, Reece Labbee, Nicholas Perrin, Dr. Ellen Farrell, Brett Himmelman
This past weekend, students from the Sobey School of Business made history. Competing in the New England division of the Venture Capital Investment Competition (VCIC) hosted by Boston University, the two teams of five, one at the undergraduate level and one at the graduate level, placed second in their respective divisions, beating out teams from top-tier American schools that included Cornell, Tufts, Babson and New York University. While the Sobey School of Business teams have placed high in past VCIC events, both teams winning the silver medals back-to-back is unprecedented.
“It was definitely a very emotional experience,” says Shashwat Duggal of the undergraduate team. “The whole team could not believe it when the results came out. We were really happy at the end that we came second, and we lost first place by a very narrow margin.”
VCIC is an international competition, hosting upwards of 50 individual events across four continents. While there is a Canadian competition, it is hosted at Saint Mary’s University thus our students compete south of the border to avoid conflicts of interest. Dr. Ellen Farrell, Professor of Venture Capital and Entrepreneurship and organizer of the VCIC teams, sees this as a benefit. SMU students are able to compete against top American universities, acting as venture capitalists investing in start-ups. Their choices and their reasoning are judged by a panel of experts.
“We prepared for three weeks,” shared Shubhra Singh, a graduate student in the Master of Technology Entrepreneurship and Innovation (MTEI) program. “We worked non-stop for 36 hours [before the competition] to gather information about the start-ups that were given to us. The competition gave us opportunity to network with real venture capitalists, and their feedback was very critical and realistic.”
The graduate and undergraduate teams both taking home silver speaks not only to their hard work and dedication, but also to the wealth of knowledge they’ve gained as students of the Sobey Business School. Morgan Baker-Tucker of the undergraduate team highlighted how SMU’s unique programs have guided her path. “The Entrepreneurship program at Saint Mary’s University has a heavy focus on venture capital and start-ups. After taking one class with Dr. Farrell in my third year, I knew I had a lot more to learn about venture capital, and I was most certainly right.”
Dr. Farrell’s contribution to Entrepreneurship programs at the Sobey School of Business and to the success of students cannot be overstated. Dean Harjeet Bhabra summarized this sentiment in his congratulatory message to the teams. “In addition to recognizing the excellent performance of our students, I would like to sincerely congratulate and acknowledge the passionate leadership of Dr. Ellen Farrell, whose relationships and connections have successfully linked our academic programs to the venture capital entrepreneurial ecosystem, where she is a recognized figure.”
The Sobey School of Business is a leading Canadian business school and has an international reputation for excellence in Entrepreneurship programs. “I joined the Sobey School of Business in September 2021,” says Shubhra Singh, “and in just five months, it has given me opportunities to network with early-stage start-ups, participate in pitch presentations, and most importantly collaborate with venture capitalist organizations and understand how this entire ecosystem works. This a learning of a lifetime.”
Shashwat Duggal agrees with Singh. “The most impactful thing that’s come from studying [venture capitalism] has been the networking opportunities with venture capitalists and start-ups from the business community. As part of the [venture capital] course we regularly meet with venture capitalists from the industry, which has been really impactful for me.”
While VCIC was a unique, hands-on opportunity for students to act as venture capitalists investing in start-ups, this competition is a small facet of what is available to SMU students. “There are always opportunities in front of you, it's up to you to decide how you want to be a part of it,” counsels Sayeda Nabila Mahabub of the graduate team. “Either you are a spectator, or a participant. The Entrepreneurship program will throw many opportunities at you, I suggest you grab them and make the most of them. Opportunities won't wait for you.”
We would like to once again congratulate both the undergraduate and graduate teams on their success!