TVLIC Rules

The Texas Venture Labs Investment Competition (TVLIC) launches you on the road to raising venture capital. The competition allows current graduate students from The University of Texas at Austin to gain real experience while developing and growing new ventures based either on their own ideas and technologies or those developed by others.

These rules are intended to act as guidelines outlining the intent of the competition. Final eligibility to compete and allocation of awards remains at the sole discretion of Texas Venture Labs.

General Eligibility

  • Companies must currently be operating or intend to launch within six months of the competition.
  • Companies may compete more than once provided they did not win First Place in a previous TVL Investment Competition.
  • Individuals may only compete with one company per competition.
  • All entrants must be competing with stand-alone startup operating companies, which excludes investment vehicles, existing company expansions, licensing entities and roll-ups.
  • Students must own a majority of the fully diluted equivalent shares of the company and a capitalization table must be provided for documentation.
  • Students must be enrolled in a graduate degree granting program from The University of Texas at Austin. Certificate or post-doctoral program students are not eligible.
  • All sessions are open to the public and TVL has the right to use all business plans, videos, images and presentations for educational or other purposes.
  • Participating teams are responsible for ensuring their eligibility. Violations will result in a team’s disqualification from the competition as well as forfeiture of any awards and prize money.

Competition and Award Eligibility

  • All teams must present in the Nemec Elevator Challenge on the day of the competition.
  • All teams must be present at the Awards Ceremony in order to claim any award.
  • James D. Pippin Veteran Entrepreneurship Award: The competing team must have at least one U.S. military veteran student founder.
  • Wells Fargo Clean Technology Award: The competing team must have a clean technology or sustainability aspect, as determined by TVL, to be eligible for this award.

Application Requirements

  • Executive Summary: A two page, 12 point font, one inch margin double spaced executive summary in PDF format.
  • Financial Forecast: A three year financial forecast with integrated income statement, balance sheet and statement cash flows not exceeding three printed pages.
  • Capitalization Table: A current capitalization table of all shareholders of the company and the fully diluted equity equivalence of the company.
  • Examples and templates for file uploads can be found here.

Optional Application Item

  • A use of funds statement from the winner of the top prize of $10,000.
  • An indication of your corporate status by stating whether you have filed for incorporation or not and in which state.
  • A summary of the status of any patents or licenses (including patents pending).
  • Business Plan: Plans are to be submitted as a single, printable PDF file. Plans are limited to no more than 21 pages (not including a single cover page or single table of contents page). The 21 pages are limited to a maximum of 15 pages of text and 6 pages of appendices. Page format is double spacing, 12 point font, with 1 inch top, bottom, left and right margins. This line spacing and font requirement applies to the textual content of the document and not to titles and descriptions accompanying pictures, graphs, tables or worksheets. All pages must be numbered excluding the cover page and table of contents. The cover page must include the company name, team member names in alphabetical order and the degree they are pursuing. Appendices should be included only if they are referenced in the written plan and must print out in a font size that is readable. If these guidelines are not followed, the plan will not be distributed to the judges.

Other Requirements to Compete

  • PowerPoint Presentation: TVL must receive a copy of your presentation prior to the start of the competition.
  • Release Form: TVL must receive a permission form signed by every member of your team acknowledging that TVL has the right to use all business plans, videos, images and presentations for educational or other purposes.

Presentations

  • Presentations are interactive and delivered to a panel of investors on a 30 minute running clock including both presentation and Q&A.
  • Companies are encouraged to present via PowerPoint; however, all presentation equipment is the responsibility of the presenters.
  • Teams may not observe the competitors’ presentations in their assigned division until after they have presented.
  • Only current UT Austin graduate students may present and participate in the Q&A.