A team of MBA students from the Massachusetts Institute of technology and another from the University of Colorado walked away with the top honors in the annual Venture Capital Investment Competition last weekend.

The event, which drew entries from more than 40 campuses around the world, is put on by the UNC Kenan-Flagler School of Business.

MIT was selected over Virginia and Brigham Young University in the overall judging.

The Colorado team was the “entrepreneur’s choice” winner as selected by representatives of five startup companies that participated in the event.

No North Carolina teams made it to the finals.

The teams heard presentations from actual entrepreneurs and companies and conducted due diligence as if they were actually making investments.

Among the entrepreneurial companies participating was N.C.-based TheraSim.

Venture capitalists participating as judges included Jeff Clark of The Aurora Funds, David Jones of Southern Capitol Ventures, John Glushik of Intersouth Partners, and Sean McCarty of Pappas ventures.