Babcock University has partnered with an Irish corporate development firm, Sim-Plement, to implement a cloud-based business simulation model to teach entrepreneurship through hands-on experience.

The collaboration is being spearheaded by Dr Ayodeji Ajibade, who is the Director of Babcock University Entrepreneurship Development Centre, and Oluseyi Oladimeji, the Lead Product Manager and co-founder of Sim-Plement business training.

The initiative is designed to complement business simulation, introducing students to investors and enabling them to collaborate on real-world business projects, leveraging their skills and ideas. Participants develop financial literacy, manage budgets, and practice strategic planning, gaining experience that extends beyond the classroom.

The partnership also provided a learning platform for lecturers, who adapt alongside students to deliver interactive and practical instruction.

Speaking with journalists during a visit to the institution, Ajibade explained that the simulation provides students with a structured, risk-free environment to apply concepts learned in class, implement business strategies, make key decisions, and experience the realities of running a company without facing real financial consequences.

He said: “The business simulation is being used in our third-year venture creation course, which is systems-based and designed to integrate theory with practical application.

“Students work in teams, assigning roles, and mirroring the structure of a real business. Through this, they learn not only decision-making, but leadership, collaboration, and accountability.”

The simulation is divided into six rounds, each requiring students to analyse performance data, make operational and financial decisions, and adjust their strategies.

In the first round, students focus on foundational elements, such as selecting a business name and location, critical steps that illustrate the importance of branding, market positioning, and strategic planning.

Subsequent rounds address operations, finance, and overall strategy, exposing students to the complexities of entrepreneurship, while maintaining a safe, virtual environment for learning.

Oladimeji highlighted the importance of international collaboration in driving innovation.

“In Nigeria and globally, the focus is increasingly on enabling people to engage meaningfully with foreign systems and practical experiences. Through partnerships with global companies like Amazon and Sim-Plement, we are experimenting with innovative approaches and drawing lessons from markets in the United Kingdom and the United States,” he said.

Ajibade emphasised the dual benefit: “Both students and faculty are gaining new perspectives. This is not just about teaching; it is about cultivating an ecosystem that supports creativity, critical thinking, and problem-solving.”

In his remarks, the Chief Executive Officer of Sim-Plement Ireland, Klaus Walter, expressed optimism about the programme’s long-term impact.

“By combining practical simulation, mentorship, and international insights, we are preparing graduates for how to navigate economic challenges and create meaningful opportunities for themselves and their communities,” Walter stated.