People in business school love abbreviations. As an example, my current core classes are DRA, DEO, MOB and Marketing. I'm sure marketing will be changed to MKT soon, though, as vowels continue to lose favor among the naming experts.
Deciphering VCIC may be a bit more intuitive than the classes mentions above, thanks to the first two letters. It's the Venture Capital Investment Competition - where students across business schools become venture capitalists for a weekend and evaluate investments in new businesses.
My team, MARSH Capital, made it through the first round, where we pitched our make-believe fund and what we lovingly named "the MARSH approach." Balance was the key to our success, as we had collectively worked in technology, finance, law, strategy and marketing. The subsequent round involved spending Thursday through Saturday (straight) poring over business plans, grilling entrepreneurs, fiddling with financial models, creating term sheets and summaries and ultimately presenting to a tough crowd of VCs. It was an amazing, not to mention exhausting, experience that shed some light onto the process of VC investing, and the hurdles entrepreneurs face in securing funding.
In the end, an EMBA team did an amazing job and took home the prize. They'll be representing London Business School at the next round this weekend in New York, so best of luck to them!
No matter what your focus is, there are plenty of competitions that provide invaluable learning experiences and ridiculous opportunities here at London Business School. As a further example, myself and some other MBA '09s are currently managing €100,000 of real money in the finals of a European portfolio management competition, sponsored by Fortis. We gained about €6,000 last month. Seems crazy, I know. But there are competitions for brand management, business plan writing, case studies, social ventures - all the perennial favorites. So whether you get involved for the learning, the glory or the cash prizes (this is London, after all), there's plenty of competition to go around.