Latest News
SimVenture V4.4 – Discover what’s in the latest release...
After several months of intensive software development, SimVenture V4.4 is almost set for release.
Driven by customer demand, the latest version of the business simulation includes many innovative new features which are all listed below. Further explanation of each feature is provided within this document.
- Customise SimVenture
- Apprentice Scenarios
- Upgraded Notepad
- Tutor Events
- Improved Product Design
- Translation Facility
- Non-Random Market
Allowing people to customise the software is a major step forward for SimVenture. This facility means web or Windows-based content can be linked to pages within the simulation; as a result teachers and trainers easily setup and view files, video, audio and web-links to inform, support and enhance the user’s experience.
The upgrade to V4.4, which will be made available over the summer, is freely available to all customers with an existing Maintenance contract.
SimVenture prepares to score in South Africa
Exciting times lie ahead for SimVenture in South Africa.
At the invitation of small business specialist, Septi Bukula, Peter Harrington spent a week in Johannesburg and Pretoria at the end of May 2010. The purpose of the trip was to meet with key government officials interested in introducing SimVenture as a training tool as well as presenting the software to teachers and lecturers.
“Septi organised a packed schedule of back-to-back meetings,” said Peter. “The enthusiasm for SimVenture was almost greater than in the UK especially since the country is looking for innovative ways to resolve its unemployment problems.”
The itinerary also included media interviews and a 30 minute radio show where Peter fielded questions live on air from people interested in setting
up in business. “You never know what people are going to ask in these situations but everyone I spoke with was very complementary.”
Septi Bukula has spent many years researching small business issues in
his native country and believes SimVenture has a very important role to play.
To find out more about Septi’s views, watch this short film.
SimVenture fires Competitive Spirits in Northern England
Events in York and Lancaster involving nearly 100 people have again demonstrated the value and power of SimVenture as a competition platform.
In March, schools from around the north west of England were invited to take part in a business competition hosted by Lancaster University. The event, required teams of 4 students to pit their SimVenture business wits against each other and run their virtual business to achieve greatest profits. The competition was close but was eventually won by Blackburn Sixth Form College.
Most recently, nearly 50 people from the business community in York signed up to be part of SimVenture competition organised by ‘York Professionals’. Teams from banks, legal practices, education institutions and local small businesses all entered. RBS NatWest seemed most likely to be crowned victors but thanks to some clever late thinking, Business Link Yorkshire & Humber surged with the tape in sight and took first prize.
Paul Brough Jones, pictured with people attending the York event said; “Competitions are a great way for people to find out about SimVenture, but more importantly perhaps, the game helps break down barriers and brings people together."
Picture courtesy of York & County Press
What will the SimVenture 2010 Impact Research campaign reveal?
Following the success of the inaugural 2009 survey, the SimVenture Team launched the latest research campaign in April this year. The aim of the research is to establish the impact SimVenture is having on students in UK schools, colleges and universities.
Conducted as an online study, the main survey is once again being distributed through teachers and lecturers to their students. Over 40 institutions from most parts of the British Isles have asked to take part and it is expected that at least 400 completed questionnaires will be submitted before the end of July this year. The findings are expected to be published around August 2010.
Peter Harrington, research administrator and director at Venture Simulations, said, “Measuring the impact SimVenture is having on learners is extremely important to us. We want to know how the software is helping people to learn about business and entrepreneurship. We also want to know how, if at all, SimVenture is helping people to move towards starting their own business.
“We are also encouraging all participating institutions to include 2 of their own questions in the national study. This free service will help and encourage teachers and lecturers to measure the value of SimVenture specifically at their place of study.”
Free copies of the Executive summary will be made available on the SimVenture website. For further details of the research and/or to get involved, contact Peter Harrington.
Cocoa and Slippers: Discover why they fit the latest SimVenture training trend
Whilst the SimVenture training courses in London and York remain popular, it is increasingly difficult for many people to get time away from their workplace to acquire new skills. Budgets and timetables, especially in the education sector, are being tightened.
As a result of the squeeze, as well as the increasing global demand for the business simulation game, the SimVenture Team has created a new online 1:1 training service. Working from home or the office, people can now receive dedicated support and learn how to use and teach with the software.
Using the latest online technology, training recipients are able to interact with the trainer’s computer screen and fast-track their learning. At the same time, both people can talk to each other using a Skype link or landline phone.
Keld Harbo, Associate Professor at the University of Southern Denmark, recently spent an evening learning how to use SimVenture. The training was highly convenient and involved no travel time or costs.
Costing from £60, details about the service are available here and online training can be booked using this form.
Discounted Licences Popular with Students
Students across the UK can now buy their own personal SimVenture Licence for as little as £20. And the discounted offer (RRP £39.95) is proving very popular with people all over the UK.
SimVenture is being used to teach business and entrepreneurship courses in hundreds of schools, colleges and universities. Having a personal copy means that students can complete their work at a time and place that suits them.
Order forms for Student licences are available from the SimVenture website. Most people choose to purchase the software in download format which means payment and licensing of the software only takes a matter of minutes to complete.
Free Seminars: Learn all about Version 4
Launched in 2009, SimVenture V.4 includes a range of new functions that make the software even more engaging and authentic for users.
Business planning; increased Advisor Support; more Start-up options; Customised screens; and better navigational aids are just some of the features that have been added to SimVenture.
To help teachers and trainers keep up to date with the software, 2 free seminars led by the SimVenture Team are being held on March 4th at Birmingham University. Open to anyone using the software or considering purchase, the back to back seminars will provide a hands-on opportunity to learn all about the new features and meet likeminded people.
Further details about the event are available within this leaflet and places can be reserved using the booking form.
SimVenture secures Award Hat-trick
Having won a BETT Award and being crowned 'Serious Game of the Year', all in 2008, SimVenture has gone on to win its third national accolade.
Entered into the annual E-learning awards for Best learning game, simulation or virtual environment, SimVenture scooped the Silver Award.
Peter Harrington who attended the gala dinner ceremony on behalf of Venture Simulations was naturally delighted with the result. "For us to be recognised like this in the E-learning arena says so much for the quality, flexibility and depth of the product."
"The judging standards were particularly stringent and we knew we were up against much bigger organisations whose resources and budgets dwarfed ours. However, to be in the same company as The BBC, The British Army, several major banks and Boots amongst other prestigious names, highlights just how far SimVenture has come.
Virtual Business Challenge for Entrepreneurship Week goes Live! [NOW ENDED]
Shell Livewire and the SimVenture team are running the first ever ‘Virtual Business Challenge’. Open to people aged 16-30 in the UK, this groundbreaking national competition gives participants the opportunity to demonstrate their business prowess and compete for cash prizes worth a total of £1,500.
How to enter
People can find out all details and register for the event here
Competitors will then be able to play the demo as many times as they like to practice the game. On 9th November 2009 the game will unlock the competition scenario and competitors can play three times using their Shell LiveWIRE login. The best score of the three games will automatically be sent to Shell Livewire to place on the Leader Board. Competitors can submit their games up until Wednesday 18th November.
On the Thursday of Global Entrepreneurship Week, all entries will be scrutinised to find the best virtual entrepreneur in the UK! Shell Livewire will also be running a league table on their Home Page to show the top entrepreneurs. For updated details of the competition visit the Shell LiveWIRE website
Latest Research reveals SimVenture Impact in Education
Research just published by Venture Simulations Ltd examines the impact SimVenture is making on students in UK schools, colleges and universities.
"The results are extremely pleasing" said Director Peter Harrington. "Not only is it clear to us that students are benefiting from the up-to-date pedagogy that SimVenture offers but also the software is having real impact on their work and employment prospects."
Plans are already in place to conduct further research in 2010 both with students and teachers throughout the UK and further afield. The Venture Simulations team acknowledges the importance of attracting greater student sample sizes so the research is nationally robust. If you would like to be involved in this work please contact the team – research@simventure.co.uk
To obtain your free copy of the report’s Executive Summary, click here.
SimVenture targets Kenyan slums
Budding entrepreneurs living in Africa’s largest slum in Kenya will soon be learning how to run their own business with the help of SimVenture.
In August, company Director Peter Harrington travelled to Kibera in Nairobi, where people live on an average of between $1 and $2 a day. Peter’s mission was to teach five trainers how to develop their business skills through using the software.
Over a million people live in the Kibera slum but many show high levels of entrepreneurial spirit – selling everything from shoes to fried fish lunches on the streets – because they have no training in how to develop a business, they are stuck in a vicious circle where they only make enough to scrape by.
The training came as a result of Peter meeting Sarah Kanaiya at an entrepreneurship conference in Canada in 2008. Sarah, who is an associate consultant with KPMG, saw SimVenture and recognised immediately the impact it could have in the Kenyan slums.
Autumn & Winter SimVenture Training Programme Announced
As a result of high demand for SimVenture one-day training courses, a full programme of training has been organised for October 2009 and February 2010.
Led by Paul Brough Jones, Director of Learning & Teaching at Venture Simulations, the training will continue to be run in London and York. The one-day courses include 'Discover SimVenture', 'SimVenture Applied' and 'SimVenture Accreditation'.
“The range of courses means the training is suited to anyone wanting to use the software” says Paul. "No prior knowledge of SimVenture is required for people wanting to attend the Discover SimVenture course and for people really wanting to champion use of the software within their institution, the Accreditation training is ideal. Likewise, the SimVenture Applied training best suits people who really want to know about all the different ways to teach with the software."
Training courses cost from £140 + VAT per person and further details as well as booking forms are available here.
Educating the Next Wave of Entrepreneurs
The global financial crisis is a key reason why entrepreneurship has never been more important, claims a report just published by the World Economic Forum.
Entitled ‘Educating the next wave of Entrepreneurs’ the report examines how innovation and entrepreneurship offer a roadmap for solving global economic problems.
Methods of teaching are a key part of the document. Critically, the report makes no bones about the need for a fresh approach. “Mainstream pedagogy will have to change, leading to the hands-on approaches that entrepreneurship education requires. We need to move towards these higher-order thinking skills for all young people.”
The team at Venture Simulations has always believed that passive theoretical approaches don’t work on their own. Peter Harrington was delighted to see the report claim that simulations and games were a key element for future entrepreneurship education.
“We have always said that the best way to support learners is by using authentic, engaging and challenging resources. SimVenture allows people to practice and build fundamental skills that have real value,” adds Peter.
You can access you own copy of the World Economic Forum’s report here.
SimVenture Version 4 Available Now
After many months of development, the team at SimVenture is launching V.4. This new release is the most up-to-date and comprehensive version of the award-winning business simulation game.
SimVenture V.4 represents the most significant software update since the simulation game was first launched in October 2006. Users will immediately notice a new look and feel and a wide variety of additional features and applications have been built into the software.
New Features
As well as being able to program additional variables at the start of a game (e.g. interest rates, market conditions and level of advisor support) SimVenture will also support multiple currencies, giving it greater global appeal. "This feature is particularly relevant" says director Peter Harrington. "We are receiving increasing numbers of inquiries and orders from abroad and people want to run their virtual businesses with a currency they know and understand.
Business Planning
The new version also includes a full business planning section. This feature allows users to make plans both for their own real business or their virtual company within SimVenture. Navigation features have also been improved and for the first time players can easily get a big picture overview of their company and thus get to grips more quickly with all aspects of the software.
Free demo copies of V.4 are available from the company's website. To obtain your copy, click ‘Get Free Demo’ on the Home screen of the SimVenture website.
For more details about Version 4, click here.
SimVenture and teaching the BAF Diploma
Phil Warren heads up Business Education at the Snaith School in Yorkshire's East Riding. He is also responsible for leading on the BAF Diploma in his part of the region. In this short article he explains how and why SimVenture offers so much synergy for people teaching this new area of study.
The Business Administration and Finance Diploma has been developed to give learners a real experience of the business world. ‘At least 50% of principal learning has to be applied. This means that learning cannot take place in the classroom but must be in a work-related environment, whether real or simulated’. (QCA)
What is needed then is a resource which can realistically simulate the business environment and allow the learner to experience running a business, make decisions, see their impact and adapt their strategies in a risk free setting. The award-winning business simulation game ‘SimVenture’ is proving to provide just the right solution.
In my opinion, SimVenture will be a real asset in the delivery of the BAF at all levels from Foundation through Higher to Advanced. Topics such as Enterprise, Marketing and Finance can be introduced using the tutorial aspect of the ‘game’ and then developed and put into context by running the simulation. When different aspects of the course are being covered then reference can be made back to what they have learnt on SimVenture.
Used prior to the start up or during an enterprise activity, (such as Young Enterprises Company Programme), it will give learners an introduction to business and allow them to see what they will have to do in order to be successful. Each pupil gains experience of all the functional areas too whereas often in an enterprise activity roles are allocated.
Advantages of the simulation are that it can be picked up quickly and does not require too much planning. Pupils are incredibly well motivated when using it and they actually begin to understand how the different functional areas relate to each other and how they impact. E.g. You can lower your unit cost by reducing the quality of the item by using cheaper components however what effect will that have on customer demand – learners see the impact of operational decisions on sales.
At Snaith School, I will be running the Enterprise unit throughout Year 10 and running the Marketing and Finance units alongside based upon the pupils business. I intend to use SimVenture to teach the course theory and to put the learning in context. Using SimVenture will allow me more easily to meet the requirement of 50% applied learning and to do it in a motivating and structured way.
Phil Warren, Head of Business Education, The Snaith School
National SimVenture Competition Announced
City University in London will host the first national SimVenture competition which will be held on Friday 26th June 2009.
Students from both Further and Higher educational institutions are invited to compete for over £1,700 of prize-money and the title of National SimVenture Champions.
Event organiser and City University Teaching Fellow, Michael Klein, expects up to 30 student teams to take up the challenge. But Peter Harrington, director of marketing at SimVenture makes the point: "SimVenture is extremely popular in both the FE and HE sectors and we may find that this year we are unable to cater for everyone who wants to participate. I would urge people to get their entry in quickly to avoid disappointment."
More detail about the event as well as a Registration form is available here:
New SimVenture Scenarios available soon!
In response to client requests for more tailored SimVenture teaching materials, four ready-made Scenarios have been created by the team at Venture Simulations. The scenarios allow users to start SimVenture games from different points and learn more about specific business challenges and issues.
The software currently comes with free scenarios which include 'Driving Lesson', 'Cashflow Crisis' and 'Growing Pains'. The suite of 4 new scenarios will allow users to focus on key aspects of 'Marketing', 'Operations', 'Organisation' and 'Finance'. These resources will provide an even stronger platform for teachers and trainers to introduce people to SimVenture.
Paul Brough-Jones (lead SimVenture trainer) has been responsible for the development of the new teaching and learning resources and believes they will have a strong impact in the classroom. He says, "The scenarios add another dimension to SimVenture because they provide a new perspective for all users. Furthermore, each resource is accompanied by comprehensive teaching and learning notes making it easier for people to plan and complete meaningful and focused lessons.
The scenarios will be available from late April 2009 and will cost £85 + VAT each (or four for £250 + VAT). All orders can be placed via the SimVenture website.
No Knives or Guns in SimVenture Battles
Competitions are becoming an increasingly popular way for schools, colleges and universities to introduce SimVenture to students.
The flexibility and multiple challenge levels within the game allow competitions to be organised so they engage users and foster authentic learning. As a consequence staff supervision of events is straightforward and not at all stressful.
This was certainly the experience at Lancaster University. On March 18th 2009, 11 groups of students competed in the finals of an event that had originally attracted interest from schools all over the North West of England and Yorkshire. It proved to be a tight finish but the eventual winners were Dixons Academy from Bradford.
Paul Brough Jones, lead trainer at Venture Simulations said: "To see so many students completely focused for over 2 hours on their own virtual business was quite amazing. All participants also demonstrated a very high level of business acumen and sound judgement."
Sheffield Hallam University also recently ran a competition for undergraduate students from 34 HE institutions around the country. Such was the success of the event that one participant said, "The benefits of such in depth virtual practice is invaluable, both in terms of the knowledge that can be gained but equally in terms of inspiring confidence to those who would otherwise not explore the possibility of starting a business."
Further competitions are planned for later in the year, but if you want to run or host a SimVenture event, contact Peter Harrington - peter@simventure.co.uk
Greek odyssey delights SimVenture team
Twelve months after winning its first national award, the SimVenture team last week made a highly successful return to exhibit at BETT, the world's largest education technology show.
Over 30,000 people poured through the doors in what is believed to be the busiest show on record. And the SimVenture stand was continually busy.
Beaming with delight at the interest in SimVenture, Managing Director Paul Harrington went onto receive further good news from some Greek teachers who visited the stand.
"SimVenture is one of the main reasons we came to BETT" Paul was told by the Greek team who were also keen to see how the software worked and how they could use it with students.
"It's great to know that the software is in so much demand and that people from all parts of the world value the work we have done," said Paul. Along with his brother Peter, they also met representatives from the Philippines, Mexico, Spain, Denmark, Malaysia, Japan, Finland and many more.
Boring Business: Can do better
According to England's school inspectors, too many lessons in business studies are boring and fail to inspire.
A research study carried out by Ofsted into business education in 118 schools and colleges concludes pupils are talked at far too much rather than gaining real life experience. Practical activities and engagement with hands-on learning materials appear to be in clear demand. Yet students in virtually half of all schools surveyed complained there was not sufficient opportunity to try out running a business or work in the real world.
At a time when the government has invested millions of pounds in school technology, enterprise teaching as well as fostering links between agencies, employers and schools, this research must be of real concern.
With one eye on trying to solve the problem, Ofsted chief inspector Christine Gilbert did add that: "Business teachers must be given the training they need to produce inspiring lessons. "The best lessons actively engaged students through case studies of real businesses, role play, games and simulation."
As a highly acclaimed product and BETT award winner SimVenture is obviously well placed to help schools meet the standards Ofsted are seeking. The team at Venture Simulations will continue to advocate the value and importance of the product to all educational authorities and organisations.
SimVenture Triumphs Again
Following on from the success of winning the coveted BETT award in January 2008, SimVenture last night won its second national award of the year at the World of Learning award finals in Birmingham.
Beating off stiff competition from organisations such as the Open University, Caspian Learning and the BBC, SimVenture became the Serious Game Solution of the year.
Company Director, Peter Harrington was delighted with the result and said;"We have entered SimVenture for two national awards this year and to win both of them is way beyond our expectations. The team continues to work incredibly hard providing a meaningful and authentic business simulation game to clients in the UK and abroad.
"We are fully aware that the popularity of the product is growing in all our markets and 2009 promises to be a very good year. The economic downturn whilst never easy for any business is also an opportunity for us because SimVenture helps people to better understand how to setup and run a business when times are tough."
Andrew Gee, Senior Project Manager for the World of Learning Awards, said, "This has been an outstanding year for the World of Learning Awards with a large number of high quality entries. The quality of entries was extremely high and surpassed our expectations. It is a great achievement for all the winners, who are a shining example of the supreme accolade in the learning and development industry in the UK."
'First Steps' Guide - new resource released for first-time SimVenture users
A new step-by-step manual helping to introduce people to the business simulation game 'SimVenture' has just been released by Venture Simulations Ltd. The Guide covers all the basic aspects of the game and emphasises how and why research is critical to game success.
Not only is the Guide ideal for people who are reviewing a demo copy of the software, but it can also be used by individuals who have recently purchased licenses.
Available in download format from the Learning Zone on the SimVenture website www.simventure.co.uk the guide is free to anyone wanting to know more about the software. The 'First Steps' guide is part of a wider package of free materials and information all designed to help people get the most from SimVenture.
For more information, contact Peter Harrington.
SimVenture – Bridging the Gap
Bridging the gap between theory and practice is this year’s Institute for Small Business and Entrepreneurship (ISBE) Conference theme. The event is being held in Belfast in November and fittingly, Peter Harrington, director at Venture Simulations, will be presenting a paper on how SimVenture is making a difference and working as a powerful bridge for educators, students and budding entrepreneurs. He will present evidence that clearly supports the hypothesis that SimVenture is helping people to better understand business and entrepreneurship and then stay and survive in the world of self employment.
ISBE’s annual conferences are Britain’s leading forum for promoting, disseminating and debating small business development and entrepreneurship evaluation and research; informing many major shifts in UK policy and practice over the past 30 years. The Conference attracts leading small business researchers and academics, policy makers, educators and advisers, as well as SME Bodies and Support Organisations.
To read the paper click here or for full details of the 2008 ISBE Conference click here.
Currency converter to be added to innovative business game
"Domestic demand for SimVenture is growing at an impressive rate" says company director Peter Harrington. "However, nothing could prepare us for the level of interest expressed by potential buyers at the International Conference of Small Business held in Nova Scotia in Canada."
Delegates from academic institutions in Europe, North & South America, Africa, The Middle East and the Far East were all keen to see how the business simulation could enhance teaching and learning in the class. More significantly, over 50 delegates requested a demo CD with a view to using SimVenture at some point in the future.
"It was difficult to keep up with delegate interest on the stand. But whenever I had a break I was emailing opinions and results back to the UK office in Guildford. The key two findings concerned peoples' need for the business game to use multiple currencies as well as to allow rates to change within the simulation so that costs and prices always remained realistic."
Surprisingly, people were less concerned about translations mainly because english is a universal business language.
As a result of attending the Nova Scotia event, the development team will be bringing out the very latest version of SimVenture in the autumn of 2008. Allowing players to select their preferred currency will be one of the many features added to the business simulation.
Government Agency Recognition for SimVenture
In recognition of the impact SimVenture is having as a learning resource, a government agency today published an article all about the software’s application for teachers and learners.
‘Towards Maturity’ is responsible for improving the impact of e-learning in the classroom and workplace. The agency’s website http://elearning.e-skills.com provides a wide variety of articles and information highlighting best practice, shared experiences and practical insights to support people wanting to learn more about this subject.
The article about SimVenture focuses on how the software is used by Tyro Training, the commercial training arm of Craven College in Skipton, North Yorkshire.
To review the article in full click here
SimVenture wins prestigious educational award!
On 10th January 2008 at the Grosvenor House Hotel in London, SimVenture won the coveted BETT award in the Post-16 Education and Training category. The annual BETT Awards represent a partnership between Becta, the Government’s lead agency for ICT in education, BESA, the trade association representing the educational supply industry and Emap Education, the organisers of BETT – the largest educational technology show in the world.
“It’s thrilling to be recognised by the industry for all the hard work our small team have put into the product over the past 5 years,” enthused company director Peter Harrington. “When we saw the finalists for our award we knew we were up against extremely tough competition – the shortlist included two BBC products. So to win was a marvelous result and one we did not anticipate.”
The awards encourage and recognise outstanding education sector resources and learning solutions. Judges reviewed the entries based on criteria including design, cost-effectiveness, support of higher order thinking skills and effective learning and teaching styles. The technical criteria against which the awards were judged focused on the robustness and resilience of each product, and its accessibility for those with specific needs.
Launched in October 2006, SimVenture is being used by schools, colleges and universities throughout the UK to help students learn about business and enterprise in an engaging and realistic way. Peter Harrington went onto say that, “Winning a BETT award will give teachers and lecturers increased confidence that the software can make a real difference for learners. We are committed to improving the product continuously and look forward to seeing the full nature and extent of the impact SimVenture can make in all education sectors."
For more information, visit the BETT Awards website where you can also view a short video about SimVenture in use at Selby College. If you would like the view the Judge's comments, you can read them here. You may need to download the free adobe acrobat reader in order to view this file.
New & Improved SimVenture to be launched
Venture Simulations Ltd, the company responsible for creating the acclaimed business simulation software 'SimVenture', has today announced the launch of the latest upgrade Version 3.4 in October 2007.
The new software includes a number of improvements, most notably the addition of variable data within the software. This extra feature means that whenever users play SimVenture, important data within the simulation changes so that no two starting positions are ever the same. Variable data alters market research information, supplier prices as well as competitor data and prices.
Peter Harrington, founding director at Venture Simulations makes the point. "Just like real life, SimVenture requires budding entrepreneurs to gather information and analyse it carefully. The variable data means that people have to now think even more carefully and also keep a closer eye on competitor activity. Virtual competitors will now alter prices to compete more effectively with players. This additional feature gives the simulation even more realism."
The new version of SimVenture also includes ready-to-use scenarios so that teachers and players can start a simulation from different points. For example, 'Cashflow Crisis' is one scenario and demands that players must rescue a business from a position of near bankruptcy. This feature allows users to test different skills and help establish for themselves the nature and extent of their own understanding of business.
Linked to the inclusion of scenarios is the provision of random external events that just like any real world now effects the virtual SimVenture user.
Burglary, fire, personal illness and interest rate changes are just some of the many events that can pop up within SimVenture. Just like real life, the player has to deal with the issues, make decisions and move the business forward. Peter Harrington adds. "Business is a matter of managing risk and whilst many issues can be controlled by a business owner, there are always events which can't be foreseen. Budding entrepreneurs need to understand these issues and be able to practice dealing with them as well as the resulting consequences."
The new version of SimVenture also includes a range of other features such as: more extensive evaluation reports for students/teachers; an extensive 'Help' file; and a library of web resource information putting people in touch with over 60 organisations nationwide.
Peter Harrington concludes. "The huge success of SimVenture since launching Version 3.0 in October 2006 has meant we have been able to invest nine months of developer time in the upgrade. We will supplying Version 3.4 free of charge to all existing customers UK-wide which now includes nearly 25% of all UK Higher Education Institutes and many individuals, enterprise agencies, colleges and schools.
LEGI - up for SimVenture
Since March 2007, three separate local authorities have already used LEGI funds to purchase SimVenture licenses as a means to support entrepreneurial activity.
The Local Enterprise Growth Initiative (LEGI) aims to release the economic and productivity potential of the most deprived local areas across the country through enterprise and investment thereby boosting local incomes and employment opportunities, and building sustainable communities.
To date, only 20 authorities have been awarded funding by the government, yet orders for SimVenture have been received from Coventry and Warwickshire, Wearside and North-East Lincolnshire.
Director, Peter Harrington said. "I am delighted that people can see just what a difference SimVenture can make. Since SimVenture is an interactive virtual world that makes the user responsible for setting up and running their own company, the learning is far richer, more engaging and more meaningful.
"People from all types of background can benefit from using the simulation and seeing for themselves just what it is like to run a company - but at no risk!"
SimVenture event sharpens thinking
The first-ever 'Experience SimVenture' event held at Sheffield Hallam University in May 2007 proved a huge success for all involved.
A near full-house of over 40 delegates from universities, colleges, schools and enterprise agencies throughout the UK heard how the software was benefiting students and the entrepreneurs of tomorrow.
Event organiser, Peter Harrington said: "I was delighted that so many people wanted to hear about SimVenture and how it is being used at places such as Sheffield Hallam University and Craven College in Skipton. Allowing teachers and lecturers to learn from colleagues in other educational institutions as well as use the software means they are more confident about buying the product themselves."
Delegate feedback was very positive and Sandy Sinclair from Bell College in Scotland added: "It was extremely useful to meet with enthusiastic practitioners who obviously get a lot of benefit to their students from use of the SimVenture software in their courses.
"It is fairly obvious to me that there is a great deal of potential in adopting the product for incorporation in courses at year 1, 2 and 3 level for any business student whether entrepreneurial or not - it gives a low cost way of making business mistakes and learning from them."
SimVenture heads for India
In February this year leading academics from the UK travelled to India and demonstrated SimVenture at the newly established Delhi Business School.
As a result of the trip, not only is SimVenture going to become an important teaching resource within the organisation, but the students based at the school are also going to create a plan for marketing the software in India.
The results and recommendations arising from the plan will be provided to the SimVenture team in the UK.
Lecturer declares best two teaching hours
A lecturer has declared that he has had two of the best hours of his recent teaching life using SimVenture.
Simon Brown from Sheffield Hallam University said: "I had two full tutorial sessions where students were engaged and on task. Loads of quiet chatting about the game - lots of smiles and laughter. Healthy competition between pairs - they want to be the best businesses...great! Those who made big mistakes - didn't get all upset they looked at why and thought what can we do to deal with the problem...
"I had to STOP the group - when the time was up. I heard two lads who - honestly are not engaged by my lectures or my earlier tutorials - say that they were actually enjoying the game and had done some work BEFORE the tutorial... and were going to the Adsetts now to do some MORE WORK... this was amazing...
"It made no difference - the girls were as engaged as the boys - all having fun. Sport students, Business students, media and communication students. I cannot wait till the next class!"