Latest SimVenture News
All latest SimVenture news is posted on this part of the site. Keep revisiting this page to find out what is happening within the company and how the team and Partner Agents are working with clients and customers all around the world.
If you have any news to share about your work with our business simulation technology, don't hesitate to get in touch with the Sales and Client Support team.
SimVenture Evolution Challenge 2018
The SimVenture Evolution Challenge 2018 was run in between 12th and 19th November 2018, inviting participants to compete globally in our award-winning simulation as part of Global Entrepreneurship Week.
The challenge was the first of its kind, encouraging students to both grow and showcase their entrepreneurial skills. The free and fully remote competition gave students the chance to compete with others around the globe, gain amazing CV experience, and win one of our main cash prizes. The students had to run a business from scratch in a real-world scenario to try and achieve the highest possible, and of course sustainable company value. Our top 3 contenders gave their thoughts about what the experience during the SimVenture Challenge was like:
Goh Tuan Jun
“SimVenture Challenge provides a great opportunity for people who are interested in entrepreneurship to showcase their skills and abilities as well as to learn and thrive in this challenging simulation consistently. As Albert Einstein once said, “If I had an hour to solve a problem, I'd spend 55 minutes thinking about the problem and 5 minutes thinking about solutions.” This aligns exactly with the SimVenture Challenge, the better you can understand your current status and the challenges lying ahead, the better your game plan and decisions will be.”
“I thought the simventure challenge was a brilliant way to quickly learn decision making aspects of a young company. The simulation gave me a much better grasp of cash flow, financing and marketing. It forced me to think on my feet and to manage the risk involved in my decisions.”
“SimVenture lets you learn theories and put them into practice which helped increase my understanding of how to handle startup businesses. It is simple to use, yet provides so much depth in decision making areas, meaning every decision you make counts. I would recommend this to anybody because as well as learning you have fun whilst using it.”
New Partner Agent appointed in Malaysia
Accordia Training and Development has signed to become VSL's latest Partner Agent in the Far East.
Based in Kuala Lumpur and headed by Jega Manoharan, Accordia has a strong game-based learning pedigree and already provides high-quality training services to a number of the country's leading organisations.
Directors of their respective organisations, Peter Harrington and Jega Manoharan (pictured) met in the Far East to sign the official agreement.
I am absolutely delighted that Jega and his team have decided to become a Gold Partner Agent. Accordia's values and principles align very closely with the work Venture Simulations does and I am confident both organisations will share a long and valuable partnership.
International SimVenture Competition Finals
Hosted by London South Bank University and attracting 6 teams from China and 9 teams from the UK, the first-ever international competition using SimVenture Classic was held on March 22nd 2018.
Participating teams (made up of up to 4 students) were required to analyse the state of their virtual company before running their business for up to 3 simulated years. Every team then had to present their work to a panel of judges.
Teams from the University of Leeds, London South Bank University. Oaklands College and Derby University represented the UK. The 6 teams from China included:
A prestigious evening award ceremony took place at the IOD Headquarters on Pall Mall. Nanjing College took top spot for the Chinese and the University of Leeds won the Outstanding UK prize.
Nanjing hosts China Classic Finals
In total, 43 teams from around the country represented their college or educational institute in the day-long event. SimVenture team-member and event Chief Judge, Ngiam Tee Woh, said "It was an extremely hard fought competition but the national champions, Changzhou Vocational Institute, were worthy winners in the end. Their simulation results and presentation were both of a very high standard."
In total, up to 10 teams competing in the China finals will travel to the UK to compete in the International Classic finals in March 2018. This prestigious competition is being hosted by London South Bank University.
SimVenture Evolution competitions: Global popularity
Since SimVenture Evolution was first launched in 2016, institutions and organisations around the world have sought to use the platform to bring people together via cross-border competitions.
In addition to competitions being run in South Africa, the University of Kent organised a highly successful competition between Business School students based at its Canterbury campus and students at PolyU, the Hong Kong Polytechnic University. And Drexel University in Philadelphia, the University of Leeds, the University of Surrey and the University of Kent are all planning further events for 2018.
Want to know how to use the Evolution platform for local, national or international competitions? Then get in touch with the Sales and Client Support team and we'll provide all details.
SimVenture Business Simulation attracts 4* Journal Status
SimVenture Evolution has been reviewed in a 4* Academic Journal.
The Academy of Management (Learning & Education section) has published an article entitled 'Evolution in Business Simulations: A Review of the SimVenture Evolution platform.' Written by Emilee Simmons, Director of Enhancement at Leeds University Business School, the piece is an objective assessment of the on-line simulation.
"The whole team is naturally delighted to achieve such recognition. And to the best of my knowledge this article about simulation use in education is the first review of technology in a 4* journal for many years, said CEO Peter Harrington. "We are all looking forward to reading and sharing the finished piece with clients and people looking to use the simulation."
You can access an excerpt review on the Academy of Management website here.
China launches international SimVenture competition
China is in the midst of an entrepreneurial revolution. This follows the publication of the latest Government 5-year plan which referenced Enterprise and Entrepreneurship Education for the first time ever. And now colleges and universities are changing how and what they teach as part of a One Belt One Road (OBOR) strategy.
In November 2017, Directors Paul Brough Jones and Peter Harrington, accompanied by the company's Singaporean Partner Ngiam Tee Woh, were invited to be part of the launch of the Youth Innovation and Enterprise Skills Competition in Changzhou. Over 5,000 Chinese colleges and universities are being invited to participate in the SimVenture Classic event with the international finals set to take place at London South Bank University in March 2018.
London event - Discover SimVenture Evolution
Teachers, tutors and trainers have an exclusive opportunity to Discover SimVenture Evolution for themselves at a London university-based event in January 2018.
In partnership with London South Bank University, VSL is running 2 'three-hour' workshops on January 17th 2018. Attendees can try the technology for themselves and hear first-hand accounts from students and tutors. Latest learning impact research will also be shared for the first time. Places are free (but limited) and are available on a first-come first-served basis. Use the on-line booking form to secure your place.
SimVenture Evolution Shortlisted for Prestigious Award
Following the independent review of a detailed 2,000 word submission, SimVenture Evolution was shortlisted (1 of 6) as a finalist for the UK's prestigious Learning Technologies Awards.
"We were naturally delighted to be recognised" said VSL Learning and Development Director, Paul Brough Jones. "Years of work combined with the faith of all university partners brought us to a very exciting place. The team presented Evolution to an independent judging panel in London in October 2017.
"If we could have gone one step further and actually picked up an award," added Paul, "it would have been a real career high point for many in the company." SimVenture Evolution's shortlisting follows in the footsteps of SimVenture Classic which won 4 national awards including a Learning Technologies Award in 2009.
SimVenture Classic: Latest Version released
SimVenture News - In August 2017, the VSL team released the latest version of SimVenture Classic (V.5). The main new feature within the new software is the ability to resize the main window meaning users can adjust the appearance of the software to fit their screen size.
If you/your organisation has a maintenance contract in place, the software update is available free-of-charge. For more details visit the SimVenture Classic site.
Millions of budding Chinese Entrepreneurs prepare for SimVenture Classic
In June 2017, VSL completed a full translation of SimVenture Classic into Chinese on behalf of its Beijing-based partner and exclusive distributor, 'SinoCampus'.
"We have worked with SinoCampus for over a year and I know the team has provided a first-class product" said CEO, Peter Harrington. The translation follows the Chinese Government's '5-year Plan' announcement that enterprise and entrepreneurship education would be part of all students' education.
"Given that there are nearly 5,000 universities and colleges in China, I am confident we will be supplying the software to millions of budding Chinese entrepreneurs," added Peter.
Former UK Amazon FD joins VSL Board
In April 2017, former Asda and Amazon UK Finance Director, Rob McWilliam, joined the Venture Simulations Board.
"I've been aware for some time that the SimVenture team has been developing innovative and engaging simulation learning technology," said Rob. "And I'm now very much looking forward to working with the talented leadership team to continue the company’s global growth.”
Operating as a Non-Executive Director, Rob will advise the Board on strategic, financial and digital matters. The whole team is delighted with this SimVenture news and looks forward to working with Rob.