Information Session

1
Wharton Leadership Venture Program

• Information Session
• September 23, 2009
• 430 pm

2
Wharton Leadership Program
Jeff Klein Director Wharton Leadership Program
Lynn Krage Senior Associate Director Wharton
Leadership Program
Mike Useem Director Center for Leadership
Change Management
Preston Cline Director Wharton Leadership Venture
Program
Katie Krimmel Associate Director Wharton
Leadership Program
3
Wharton Leadership Venture Program
Preston Cline Director Wharton Leadership Venture
Program
Judy Wu, WG10 Venture Fellow Co-Coordinator
Kris Karafa, WG10 Venture Fellow Co-Coordinator
4
Leadership Ventures Are

• Co-curricular experiential learning opportunities
  for MBA/WEMBA students to continue developing
  your leadership and teamwork skills
• A set of engaging, hands-on experiences for
  exploring and mastering the capabilities for
  effective individual and team leadership in
  business and beyond
• Assist participants in improving their capacity
  to think strategically, communicate effectively,
  and act decisively
• Designed to foster forward thinking, a bias for
  action, risk awareness, and fast decision-making
  in situations of ambiguity and incomplete
  information

5
Leadership Ventures are NOT

• Vacations
• If you are expecting to do a lot of drinking you
  are going to be disappointed.
• Tours
• If you are expecting to be just a passenger, you
  should start thinking of yourself as crew.
• Mountain climbing expeditions
• This is a Leadership Program that uses Mountain
  Climbing as a tool to explore leadership.

6
How Will You Benefit from a Venture?

• Witness leadership evolution and team development
• Test and apply the concepts of leadership,
  decision making, and teamwork
• Develop, communicate, and implement a vision and
  strategy
• Appreciate the effect of leadership styles on
  team performance
• See the tangible consequences of decisions and
  inaction
• Develop your self-awareness and emotional
  intelligence
• Receive feedback and reflect on personal and team
  experiences

7
Our Mission

• To develop leaders who act with a deeper
  understanding of themselves, their organizations,
  and their communities, in order to contribute
  positively to each

8
Experiential Learning Model
9
Our Partners

• Ecuador Mountaineering
• Kilimanjaro Mountaineering
• Adirondacks Winter Ice Climbing
• Antarctica Trekking
• Atacama Desert Trekking
• Patagonia Trekking
• Caribbean Sailing
• Alaska Mountaineering
• Baja Sea Kayaking
• Quantico U.S. Marine Corps

10
Risks Activities

• Wharton Leadership Ventures is committed to
  promoting a positive learning environment and the
  physical and emotional well-being of our
  students. We believe that our students are
  intelligent adults who can make appropriate
  decisions for themselves. Our commitment to you
  is to provide you with timely, accurate
  information about the activities included in each
  of our Ventures and to meet the highest industry
  standards for outfitter selection and risk
  management. You are ultimately responsible for
  your decisions.
• Wharton Leadership Ventures involve considerable
  risk. Outdoor activities present hazards. Many of
  our courses are isolated expeditions with
  significant variables that can initiate complex
  emergency situations without clear or simple
  solutions. Medical assistance and/or evacuation
  may be days away. We do not and cannot
  guarantee your safety.

11
2010 Venture Fellows
12
Venture Fellows

• 28 second-year students with primary
  responsibility of designing and delivering
  educational content of Venture
• Training includes facilitation skills, conflict
  mediation, coaching, group decision making,
  crisis communication, situational leadership,
  wilderness navigation, and wilderness first aid
  (NOLS, WMI, Wharton)
• Pre-Venture Responsibilities 1-on-1 with each
  participant to assess personal leadership
  development goals, logistics (gear, travel,
  etc.) pre-trip conditioning, and group
  development
• Venture Responsibilities facilitate leadership
  development and deliver educational content
• Post-Venture Responsibilities follow-up and
  review with group

13
2009-2010 Venture Calendar

• Quantico U.S. Marine Corp 9/17 9/18
• Antarctica Trekking 12/28 1/5
• Baja Sea Kayaking1/2 1/9
• Ecuador Mountaineering 1/3 1/9
• Adirondack Ice Climbing 2/19 2/21
• Adirondack Ice Climbing 2/26 2/28
• Patagonia Trekking 3/6 3/13
• Caribbean Sailing 3/6 3/13
• Ecuador Mountaineering 3/7 3/13
• Quantico U.S. Marine Corps April
• Atacama Desert Trekking 5/20 5/28
• Alaska Mountaineering 5/20 5/29
• Kilimanjaro Mountaineering 5/19 5/31

Winter Break 2009 2010
Spring Break 2010
May 2010
Dates exclude travel time
14
Quantico U.S. Marine Corps

• September 17 September 18
• April TBD

15
Quantico U.S. Marine Corps

• Venture Fellows
• Logistics
• Depart 430 pm on Thurs and return Fri at 10 pm
• Cost 250
• Group Size 90 students

Rick Lund
Ward Savage
16
Quantico U.S. Marine Corps

• Activities
• Barracks Introduction
• Leadership Reaction Course
• Combat Course
• Difficulty
• Pre-Trip Conditioning None Required
• During Venture Moderate
• Motivation Commitment Extreme!
• Risks
• Normal Physical Risks Sprains, Strains,
  Soreness
• Climbing/Falling Ropes, Walls, Etc.

17
Quantico U.S. Marine Corps

• Leadership Lessons
• Decision making, taught by experts who specialize
  in life-or-death choices
• Leading teams
• Developing a bias for action
• Creating and communicating a vision
• Translating strategy into tactics
• .While operating under physical and mental stress

18
Quantico U.S. Marine Corps

• The biggest challenge for me was being thrown
  into a situation that was very unfamiliar and a
  bit scary and learning quickly to adjust and work
  together to make it through!! I wasn't used to
  that type of authority and had to adapt quickly
  in order to succeed.
• I learned that you can "lead from the front".
  The Marines have the policy that you should only
  ask someone to do something if you would do it
  yourself. I learned that, in business, being a
  leader that will also be on the front line is an
  invaluable motivator for a team.
• -USMC Venture Alums

19
Baja Sea Kayaking

• January 2 January 9

20
Introduction
Out there on the ocean, I found that inner
champion inside of me that has no fear and
refuses to quit. It was transforming and I will
never forget it. We became kayakers out there,
but most of all, we became leaders.


Erran
Matthews


NOLS Baja Sea Kayaking Participant
21
Baja Sea Kayaking

• Venture Fellows
• Basic Logistics
• Brief Description / Itinerary
• 8-day intense sea kayaking expedition along
  coastline of Sea of Cortez (where Sonoran Desert
  meets the water)
• Land Cost 2,960
• Group Size 12 Students

Audrey Chaing
Steven Binswanger
22
Baja Sea Kayaking

• Activities
• Sea kayaking (basic strokes and kayak surfing)
• Skin diving and snorkeling
• Exploring coastal reefs
• Difficulty / Rigor
• Pre-Trip Conditioning Moderate (mandatory pool
  training)
• During Venture Moderate
• Risks
• Multi-day exposure
• Sunburn / heatstroke
• Drowning (strong breaking waves, storms at sea)
• Shallow water blackout (free diving)
• Insects and marine life

23
Baja Sea Kayaking

• Leadership Development
• Working and communicating effectively in pressure
  situations
• Goal-setting and developing a vision
• Managing ambiguity and contingency planning
• Risk management under stress
• Team building though technical seamanship
  competence and group effectiveness
• Understanding group decision-making processes
• Developing and defining roles in teams
• Leadership and followership
• Self awareness

24
Antarctica Trekking

• December 28 January 5

25
Introduction to Antarctica

• MEN WANTED
• FOR HAZARDOUS JOURNEY.
• SMALL WAGES, BITTER COLD, LONG MONTHS OF COMPLETE
  DARKNESS, CONSTANT DANGER, SAFE RETURN DOUBTFUL.
• HONOUR AND RECOGNITION
• IN CASE OF SUCCESS.
• SIR ERNEST SHACKLETON, 1914

26
Antarctica Trekking

• Venture Fellows
• Basic Logistics
• Brief Description / Itinerary
• Participants will carry packs and may pull sleds
  and wear snow shoes/crampons to explore islands
  glacial ice cap and coast
• Total days on island dependent on weather
• Land Cost 6,450
• Group Size 40 students

Mimi Shih
Gareth Keane
Bert ONeal
Judy Wu
27
Antarctica Trekking

• Activities
• Backpacking
• Mountaineering/Glacier travel
• Multi-Day exposure
• Winter tent camping
• Navigation and route finding
• Difficulty / Rigor
• Pre-Trip Conditioning Moderate (work out at
  least 3 times a week)
• During Venture Moderate - Difficult (WEATHER
  dependent)

• Risks
• Extreme cold, snow, and ice
• Hypothermia/Frostbite
• Multi-Day exposure
• Isolated travel

28
Antarctica Trekking

• Leadership Lessons / Educational Outcomes
• We will be using the landscape of Antarctica to
  explore the idea of sustainable leadership and
  organizational ecosystems
• Leading in extreme environments or under great
  duress, drawing upon the successes and failures
  of Ernest Shackleton and other early Antarctic
  explorers
• Build awareness of group decision-making
  processes
• Managing ambiguity and leading in uncertainty
• Developing and defining roles within small groups
• Translating strategy into tactics
• Other Preparation Pre-venture hiking trip,
  training, and team-building

29
Ecuador Mountaineering

• January 3 January 9
• March 7 March 13

30
Ecuador Mountaineering

• Venture Fellows
• Basic Logistics
• Brief Description / Itinerary
• Several days in Quito to acclimatize and learn
  technical skills
• Non-technical summit of Mt. Pichincha
• Summit Cotopaxi, the highest active volcano in
  the world (19,348 feet / 5,897 meters)
• Land Cost 2,750
• Group Size 22 students (Winter)
• 33 Students (Spring)

Amy Cheng
Kris Karafa
Edyta Szczepankowska
Brian Kim
James Maxfield
31
Ecuador Mountaineering

• Activities
• Mountaineering
• Glacier travel
• Day hiking
• Shelter camping
• Difficulty / Rigor
• Pre-Trip Conditioning High (comparable to
  running marathon
  good physical condition a must)
• During Venture High (must stay physically
  active/ motivated
• while carrying gear for several hrs/day)
• Risks
• High altitude
• Extreme cold
• Frostbite and hypothermia
• Snow and ice

32
Ecuador Mountaineering

• Leadership Lessons / Educational Outcomes
• Create teams to accomplish difficult goals in
  short time frames with newly-acquired skills
• Communicating in crisis situations
• Recognizing and applying situational leadership
  skills
• Developing a group vision
• Individual and group goal setting
• Decision making under stress

33
Ecuador Mountaineering

• My biggest life experience happened on Cotopaxi,
  when I chose to give up an individual goal, my
  summit attempt (with just 150 feet of climb left)
  to ensure that the rest of my rope team could
  summit. I have never had an opportunity to give
  up my success for others. I will never forget
  this experience and the gratitude I received from
  my team.
• The most rewarding part of the trip was the
  leadership development. Faced with falling into
  crevasses at 19,000 feet, I was forced to look at
  team dynamics in a whole different light. If
  something went wrong, the stakes were suddenly
  much higher than getting a bad grade on a
  project.

34
Adirondacks Ice Climbing

• 2 GROUPS
• February 19 February 21
• February 26 28 (pending approval)

35
Adirondacks Ice Climbing

• Your Venture Fellows
• Basic Logistics
• Description
• 3-day skills development workshop in one of the
  countrys best ice-climbing regions
• Land Cost 750
• Group Size 12 students

Salim Kassam
Steven Binswanger
36
Adirondacks Ice Climbing

• Opportunities
• Step out of your comfort zone
• Learn how to top-rope and multi-pitch ice climb
• Learn how to lead in an extreme environment
• Form lasting relationships with 13 other
  classmates!
• Physical Conditioning
• Pre-Trip
• Expected to workout AT LEAST twice a week
• During Venture
• Strenuous exercise all day.
• Its like trying to do 100 pull-ups over the
  course of one day
• Challenges
• Extreme Cold
• Physical Exhaustion

37
Adirondacks Ice Climbing

• I learned that there is a remarkably important
  role for group support, encouragement, and
  leadership even in activities/tasks that are done
  on an individual basis
• I can lead best through example and attitude,
  which are much stronger than voice alone. I
  learned that group performance and attitude can
  be dragged down by one sour attitude, even when
  group performance is the sum of many individual
  performances.
• One or two motivating team members can do
  wonders to improve total team output and
  performance, helping other individuals function
  at peak levels and push themselves harder.

38
Caribbean Sailing

• March 6 March 13
• (pending approval)

39
Caribbean Sailing

• Venture Fellows
• Basic Logistics
• Brief Description / Itinerary
• Intensive 8-day Sailing Training
• 24-7 Boat Management Navigation Responsibility
• Sailing out of British Virgin Islands
• Cost 2,750
• Group Size 20 students
• Organization Four 40 Ft Sailing Yachts

Ryan Berger
Adam Champy
Walter Czarnecki
Bibiana Rojas
40
Caribbean Sailing

• Activities
• Sailing
• Offshore Navigation
• Racing
• Difficulty / Rigor
• Pre-Trip Conditioning Low / Medium
• During Venture Low / Medium
• Risks
• Sea Sickness
• Sunburn/Heatstroke
• Deep Water
• Multi-Day Exposure
• Lightning

41
Caribbean Sailing

• Leadership Lessons And Educational Outcomes
• Technical sailing skills (no previous experience
  needed but you will be proficient by the end)
• Small group leadership
• Developing and defining team roles
• Team-building
• Goal-setting
• Translating strategy into tactics
• Effective delegation
• Personal development
• Working communicating effectively in pressure
  situations
• Personal awareness self-knowledge

42
Caribbean Sailing

• The sailing leadership venture taught me more
  about myself last year than anything in the
  classroom.
• Caribbean Sailing Venture Participant
• Caribbean Sailing and yacht racing is a venture
  that is unlike any other. Achieving your goal
  depends on leading a team to overcome
  ever-changing conditions and to learn new
  skills.
• Caribbean Sailing Venture Fellow
• Are you ready for a new challenge?

43
Patagonia Trekking

• March 6 March 13

44
Patagonia is the farthest place to which man
walked from his place of origins.  It is
therefore a symbol of his restlessness.  From its
discovery it had the effect on the imagination
something like the Moon, but in my opinion more
powerful. -Bruce ChatwinIn Patagonia
45
Trekking at the End of the World

• Venture Fellows
• Basic Logistics
• Brief Description / Itinerary
• Chartered plane to the southern most town of the
  Americas
• Trek a circuit around Los Dientes de Navarino
  (the Teeth of the Navarino) above the tree-line
  so views will be incredible (Cape Horn)
• Natural highlights include fjords, sub-polar
  rainforests, orcas, guanaco, Andean condors,
  albatrosses, and more
• Land Cost 2,750
• Group Size 48 students

Chris Hamilton
Jamie Pellegrin
Ginny Too
Dave Vasen
46
Patagonia Trekking Where?

• Isla Navarino is part of the commune of islands
  that make up Cape Horn, the southernmost commune
  in the world
• This is an opportunity to trek through an area
  that captured the imaginations of Coleridge,
  Chatwin, Darwin and Magellan
• We will navigate a 33 mile circuit around the
  Dientes Navarino encountering varied topography,
  incredible views and challenging terrain

47
Patagonia Trekking What?

• Activities
• Backpacking/Trekking
• Rock climbing
• Sea kayaking
• Tent camping
• Difficulty / Rigor
• Pre-Trip Conditioning Moderate
• During Venture Moderate to Demanding
• Risks
• Multi-day exposure
• Exhaustion
• Isolated travel
• Water
• Hypothermia

48
Testimonials from Patagonia Participants

• I came away strongly believing that this is the
  only way that an educational institution can hope
  to teach anything about leadership. It was the
  best experience I had at Wharton.
• I learned that with a little determination, I
  could overcome my physical limitations. At the
  times when I wanted to give up and cry, I
  reminded myself that I had no choice. I had to be
  the leader of the day on a particularly miserable
  day, and I found myself really pulling through
  and staying positive for the sake of others,
  including my tent mates and fellow leaders.

It taught me that a group working together
under extreme circumstances and in an unknown
environment possesses qualities and skills
significantly greater than the sum of all
attributes than the individuals participating.
Teaching leadership in a classroom is a
challenging (basically impossible) proposition
however, the trip was able to teach in eight days
what three of the core classes aim to teach over
an entire year.
49
Alaska Mountaineering

• May 20 May 29

50
Alaska Mountaineering

• Venture Fellows
• Basic Logistics
• Brief Description / Itinerary
• Mountaineering glacial traverse of the
• Chugach Mountains outside Anchorage
• Land Cost 3,350
• Group Size 10 students

Sam Eskildsen
Deja Lewis
51
Alaska Mountaineering

• Activities
• Backpacking and mountaineering
• Glacier travel
• Navigation and route finding
• Difficulty / Rigor
• Pre-Trip Conditioning High (4 miles in 40 min)
• During Venture Extremely High
• Risks
• Glacial crevasses
• High altitude
• Multi-Day exposure extreme cold, snow and ice
• Winter tent camping
• Hypothermia and frostbite
• Isolated Travel

52
Alaska Mountaineering

• Leadership Lessons / Educational Outcomes
• Learn to make quick decisions in stressful
  situations and conditions of volatility and
  uncertainty
• Developing situational leadership
• awareness and skills
• Translating strategy into tactics
• Effective delegation and coordination
• Developing and defining roles within teams

53
Alaska Mountaineering

• Learned about patience with others. Learned by
  watching others what leadership styles are
  effective in different circumstances. Learned
  that "real world" leadership can differ quite
  dramatically from classroom or boardroom
  leadership. The participants were able to apply
  the leadership theories they had learned
  throughout the year in real-world scenarios and
  test whether they were effective.
• I learned a lot about myself, my limitations,
• my relationship with authority, my survival
• instincts, and my determination. But I learned
  even more from observing others overcome their
  own challenges, from the group dynamics, and the
  decision making process when facing extreme
  situations.

54
Atacama Desert Trekking

• May 21 May 28

55
Atacama Desert Trekking

• Venture Fellows
• Basic Logistics
• Brief Description / Itinerary
• Multi-element trek in the driest region of the
  world, including backpacking, rock climbing,
  mountain biking, and a summit attempt of Lascar
  Volcano (18,500 ft elevation)
• Land Cost 2,750
• 30 students

Christy Laakmann
Neil Parikh
54
56
Atacama Desert Trekking
Facts about the Atacama Desert

• 600-mile strip of mountainous desert along the
  pacific coast in Chile
• Driest place on earth some areas have never
  recorded rainfall
• Mars-like soil Used by NASA to test for future
  Mars expeditions
• Contains the Saltar de Atacama salt flats and the
  Lascar Volcano (one of the most active volcano in
  Chile)

57
Atacama Desert Trekking

• Activities
• Backpacking, Mountaineering
• Rock Climbing, Rappeling, Bouldering
• Mountain Biking
• Tent Camping, Navigation
• 18,500 ft Volcano Summit Attempt
• Difficulty / Rigor
• Pre-Trip Conditioning High
• During Venture High
• Risks
• High Altitude
• Falling/Rolling Rocks
• Sunburn/Heatstroke
• Hypothermia

56
58
Atacama Desert Trekking

• Leadership Lessons / Educational Outcomes
• Creating and testing a high-performing team in
  remote and extreme environments
• Developing situational leadership skills and
  awareness through a variety of physical
  challenges
• Managing ambiguity
• Understanding group decision-making processes
• Translating strategy into tactics

Atacama has perhaps the most unique geology and
climate on the planet.  But as amazing as the
surrounding were, the insights into leadership
and team dynamics, and the bonds I formed with
the other participants, were the most memorable
aspects of the Venture. - May 2009 Participant
57
59
Kilimanjaro Mountaineering

• May 19 May 31

60
Kilimanjaro Mountaineering

• Venture Fellows
• Basic Logistics
• Brief Description / Itinerary
• Ascend via the Machame Route (most scenic albeit
  steeper route)
• Descend through the lush jungle of the Mweka
  Route
• Safari on East African Plains
• Land Cost 5,645
• Group Size 30 students

• Highest peak in Africa (19,331 ft.)
• Kilimanjaro loosely translated to White
  Mountain
• One of the worlds seven summits
• Considered tallest freestanding mountain in the
  world
• Average temperature at peak ranges from -13ºF to
  32ºF
• First climbed in 1889 by German geologist Hans
  Meyer

Kili Facts
Deva Dawson
Dan Park
61
Kilimanjaro Mountaineering

• Activities
• Mountaineering
• Backpacking
• Navigation and route finding
• Difficulty / Rigor
• Pre-Trip Conditioning High
• During Venture Moderate to High
• Risks
• High altitude
• Multi-Day exposure
• Isolated travel
• Falling/Rolling rock

62
Kilimanjaro Mountaineering

• Leadership Lessons / Educational Outcomes
• Creating a high-performing team by developing a
  common set of values, goals, strategy, and
  tactics
• Building resiliency and overcoming adversity
• Understanding group decision-making processes
• Developing situational leadership awareness and
  skills
• Building trust in small teams

63
Kilimanjaro Mountaineering
My 16-hour summit day was incomparable to
anything I've done before physically and
mentally. It wasn't so much that the climb was
technically challenging, but I haven't done
anything that required as much endurance and
reliance on my teammates for motivation It's
easy to be a team player when conditions are
favorable - but the real challenge is to be there
for you teammates when you are at 19,000 feet,
exhausted, nauseous, and have a headache. I
expected the trip to be a personal physical
achievement. I didn't expect it to teach me so
much about leadership and teamwork. It showed me,
with real examples, the ways in which I was good
and the ways in which I was deficient as a leader
and a team player.
64
Important Information
65
Important Information

• Ventures do not conflict with the academic
  calendar, and are not an acceptable excuse for
  missing classes or coursework
• Dates as shown do not include travel days to/from
  Venture
• Prices do not include personal equipment,
  clothing, airfare, land travel, meals when not on
  expedition, or spending money
• We reserve the right to cancel any Venture at any
  time for any reason
• We reserve the right to remove participants from
  any Venture at any time for any reason

66
Auction Process

• Ventures auctioned in a similar manner to courses
• http//auctions.wharton.upenn.edu/
• All first years receive 1,000 points in total for
  their two years at Wharton
• No point replenishment!
• Venture auction has 4 rounds
• Round 1 closes Monday, Sept. 28, 500 pm EST
• Round 2 closes Tuesday, Sept. 29, 500 pm EST
• Round 3 closes Wednesday, Sept. 30, 500 pm EST
• Round 4 closes Thursday, Oct. 1, 500 pm EST
• A separate round will be held for the April
  Quantico
• Quantico bids are gender specific (QTCO_MEN and
  QTCO_WMN)
• Deposit due A 1,000 deposit must be submitted
  to secure your Venture spot by October 16th.
  (Note the deposit for Adirondacks is 100)
• Final Payment is due on Nov 12th.
• Standing bids at the end of the final (4th) round
  form waitlist
• For equal bid levels, 2nd years given preference
  on waitlist

67
Venture Waitlist and Acceptance Policy

• The Auction system generates the first draft of
  the waitlist by organizing all unsuccessful
  Standing Bids in order of points bid.  The
  waitlist is ranked by highest bid.  Bids that are
  tied for the same values are ranked randomly,
  with the caveat that second year participant get
  priority over first years.
• The day after the Auction closes all existing 0
  point bids are ranked randomly.  Any 0 point
  bids that are entered after the creation of the
  waitlist is placed at the end of the line.
• In order to submit payment for a venture, you
  must have either won a seat in the auction, or
  have been notified by the Graduate Leadership
  Program that you have been brought off the
  waitlist.  Any effort to submit payment for a
  venture without the express permission of the
  Graduate Leadership Program can result in a ban
  from all future ventures.

68
Payment Policy

• Payment may be made by Visa, MasterCard, or
  American Express. Refunds will be issued through
  the method that payment was received. Failure to
  meet the payment deadlines can result in removal
  from the Venture
• Venture Payment Schedule
• All Initial deposits are due by 500pm Friday,
  October 16th.
• Deposit for Adirondack Ice Climbing Venture
  100.00
• Deposit for all other ventures 1,000.00
• Venture Final Payment
• All Final Payments are due by 500pm Friday,
  November 6th.
• The amount of payment is the remainder of the
  cost of the trip.

69
Withdrawal Policy and Refund Policy

• Participant withdraws after the close of the
  Auction prior to the Initial Deposit deadline
• Participants are refunded their auction points
  and we move to the first person on the waitlist.
• Participant withdraws after the Initial Deposit
  prior to the Final Deposit deadline
• Participants are refunded their deposit, minus
  5, if we can fill their spot otherwise they
  forfeit their deposit. 
• All auction points are forfeit.
• Participant withdraws after the Final Deposit
  deadline
• Participants may withdraw from a Venture after
  the final payment deadline only with a
  University-approved excuse for missing exams.
  This includes a death in the family, a sickness
  accompanied with a written medical excuse from a
  licensed medical practitioner explaining why you
  cannot attend the venture or some other unusual
  event.  In particular, job interviews are not a
  legitimate reason to miss a Venture.
• If a participant withdraws after the final
  payment deadline, they forfeit their deposit and
  auction points, and we refund the balance of
  their payment only if we are able to fill their
  spot from the waitlist.
• Participant Withdraws within 14 days of the start
  of the venture
• All ventures close their waitlists two weeks
  prior to a venture.  If a participant withdraws
  within those two weeks they forfeit all monies
  and points. 

70
Questions?