E-Entrepreneurship: Learning in a Simulated Environment

E-business is being heralded as the new economy. However, developments in the area of new online business-to-consumer (B2C) venture creation has been accompanied by varying degrees of success, and it is increasingly recognized that online venture creation does not materialize overnight. E-business development typically follows an evolutionary cycle of initial experimentation with Internet technologies and the transformation of consumer propositions toward the creation of a commercially viable online presence. To enable entrepreneurs to negotiate this new business landscape, Netrepreneur simulates the initial startup phases of e-business creation in the online economy. Through the modeling and electronic simulation of the e-commerce environment, Netrepreneur aims to create a holistic understanding of the entrepreneurial process as well as encourage participants to learn by doing in the simulated virtual world instead of trial and error in the real e-economy. This paper reviews the underpinning entrepreneurial pedagogic requirements for design conceptualization and the integration of the real and virtual business worlds within the Netrepreneur system development. It documents the key factors that academia should consider when designing learning programs and activities for would-be e-entrepreneurs. It is our hope that by showing the background to the development of this product, we will facilitate more of this type of innovation in education.