E-venture Project-Multiplier Event
The entrepreneurship of young people with fewer opportunities is one of the greatest challenges facing the EU today. The lack of job opportunities for young people, inequality, and the socio-economic impact generated by COVID-19 are some of the factors that negatively affect the promotion of new business ideas or social projects by these groups.
At the first event held on May 21, 2024, 28 people participated, and it took place at the Liberamente ETS office. The selected profiles were:
refugees
young volunteers
local people
staff persons
participants in the multiplier event in Spain
At the second event held on May 23, 2024, 24 people participated, and it took place at the Extramus association office, with young people from all over the world attending.
The feedback collected highlighted the usefulness of this management game, especially when one wants to implement an entrepreneurial idea. Beyond the game and its purpose, this game offers various insights and perspectives to an entrepreneur or aspiring entrepreneur, serving as a simulated learning tool. Firstly, this game allows experimenting with business situations very close to reality in a controlled environment, avoiding the risk of real financial losses. This practical approach enables strategic and operational decision-making, thus improving critical thinking and problem-solving skills: choosing machinery, hiring personnel, professional courses, contracts (electricity, waste management, insurance, etc.), cost budgeting, sales evaluations, excess production assessments, and so on.
One of the most relevant aspects of a management game is the development of key skills for an entrepreneur. Managing resources such as time, money, personnel, contracts, and improving managerial efficiency over time by investing money. There is also the possibility of long-term strategic planning, allowing for market trend and competition analysis. An entrepreneur can refine their leadership and team management skills, which are crucial elements for the success of any business.
Participants had the opportunity to analyze financial, market, and operational data, enhancing the entrepreneur’s analytical skills. The game allows evaluating business performance through KPIs and other metrics, facilitating a deep understanding of success or loss indicators and identifying areas for improvement.
The possibility to choose different difficulty levels encourages the experimentation of new ideas and strategies without real risks, stimulating creativity and innovation. Working in groups of 2 or 3 people improves collaboration and negotiation skills. Moreover, the competitive component motivates participants to improve their strategies and performance, learning from their own and others’ mistakes and successes.
In terms of fun and motivation, the gamification elements make learning more engaging and motivating, improving participation and interest. The simulation of success provides immediate satisfaction, which can be very motivating and give a positive view of one’s entrepreneurial abilities.
What surprised some participants from a certain point of view was receiving immediate feedback on decisions made, helping to quickly understand mistakes and correct them.
This management game offers a safe and stimulating learning environment to develop critical entrepreneurial skills, improve decision-making and collaborative abilities to foster innovation and adaptability.
Team at work