February 26, 2024

Siliconeer – Business Video Game Makes Students Better Entrepreneurs

Venture Valley

Source: https://siliconeer.com/current/business-video-game-makes-students-better-entrepreneurs/

After playing Venture Valley by the Singleton Foundation, nearly 70% of college students were more interested in starting a business.

Students nationwide have reported that playing the free award-winning video game, Venture Valley, has positively affected their desire to become entrepreneurs. Working with renowned Dubit research analysts and educators aligned with Discovery Education, the Venture Valley team conducted a survey that found the game greatly enhanced students’ education about business and entrepreneurship. Nearly 70% of survey recipients reported they were more interested in starting a business after taking on challenges in this fast-paced business simulation game. Students and educators also confirmed that game-based learning, as is the case with Venture Valley, is a great way to teach critical financial and business literacy skills.

Launched two years ago during National Entrepreneurship Week, which this year was held February 10-17, Venture Valley takes players on the highs and lows of being an entrepreneur in a risk-free environment. The game is free on PC and mobile (iOS and Android) and has won numerous awards acknowledging Venture Valley’s innovative and effective approach to teaching financial literacy and entrepreneurship with a medium that the student target market understands – video games. After using the Venture Valley game in class and as homework, teachers indicated that the game helps teach financial literacy and helps students retain business-related concepts.

The college, high school, and middle school students who played the game in their classrooms or as part of the “Venture Valley Collegiate Cup,” an in-person tournament at colleges, agreed with the educators’ assessment. At least 4 in 5 players recognized the impact the game has had on their business skills, entrepreneurial aspirations, awareness of financial decision-making, and understanding of cause and effect in business.

Screenshot of Venture Valley in action (Photo: Singleton Foundation)
Screenshot of Venture Valley in action (Photo: Singleton Foundation)

Key Findings from the Survey:

  • Over 80% of college students think Venture Valley is an effective way of teaching business and entrepreneurship.
  • 83% of Venture Valley college players said the game had made them feel confident about making financial decisions.
  • 79% of college students said playing Venture Valley enhanced their understanding of finance.
  • 93% of college students said they learned at least one business concept or skill by playing Venture Valley, primarily business management and product pricing.
  • 81% of high school students said they better understand how financial decision-making is important to be successful in business.
  • 72% of high schoolers said Venture Valley made them feel more confident about making financial decisions.

“These survey results continue to validate the power of gamified learning and further affirm the effectiveness of the Venture Valley game in teaching entrepreneurship and financial literacy,” said the CEO of Singleton Foundation for Financial Literacy and Entrepreneurship, Shelley Miles. “The Venture Valley game will continue to empower this generation of students to navigate the complexities of the business world with confidence and strategic proficiencies.”

Venture Valley empowers young adults to build financial and business basics by capturing their interest with a competitive esports-style multiplayer play. Players learn real financial and business skills as they grow their business from one small pet-walking enterprise to multiple businesses, including a drone factory, a dating app development firm, a robot manufacturer, and many more. Playing against others provides a fun outlet to compete with friends in positive ways while practicing financial skills and business concepts. Venture Valley also has a single-player campaign of 35 entertaining missions.

The Venture Valley game has received educational recognition from the Serious Play Awards winning the Serious Play ‘Gold’ Award for K-12 Education and being named the ‘Best Back-to-School Secondary’ solution in the Tech & Learning Awards. Additionally, Venture Valley was a finalist in the summer 2023 GEE! Award in the ‘Informal Learning’ category and came in second place in the 11th International Educational Games Competition at the 17th European Conference on Games Based Learning.

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