A total of 27 young people from six educational centers in the Valencian Community will meet in person in Madrid on March 21 to compete for the title of ‘best virtual entrepreneur in the country’ against a total of 336 students from 82 educational centers throughout Spain, during the celebration of the fourteenth national final of Young Business Talents.
In the final stage of this educational business simulation contest, organized by Abanca, ESIC University, Herbalife, and Praxis MMT, the Valencians will have to test their decision-making skills in the business world and demonstrate their entrepreneurial talent to win, as reported by the organization in a statement.
In this way, they will become «true executives and will experience first-hand the management of a company by having to run their own virtual company using an advanced MMT business management simulator.»
The finalists, students from 4th of ESO, Baccalaureate, and vocational training cycles of medium or higher degree –aged between 15 and 21 years old– will be divided into a total of 100 teams, with three or four students each, being the best ones who have managed to qualify for the final. Among the 336 students, up to 14 autonomous communities are represented.
The Valencian Community is the sixth region with the most representation in this edition, behind Andalusia with 48 students, Catalonia (47), Galicia (46), Castilla y León (42), and the Community of Madrid with 36 students. The Valencian province with the most participants on the day of the event is Valencia with 13 students, followed by Castellón (eight) and Alicante (six).
To win, each team will have to compete against the other participants with the aim of achieving the best financial results for their company and positioning their company as «the most prosperous and financially profitable» compared to the other competitors.
This year, each team will manage a company focused on personal care, selling creams and sunscreens, while making the best decisions in multiple areas such as marketing, sales, operations, production, human resources, and finance, to position their company as a leader and avoid bankruptcy.
«This educational event marks the end of a complete training program for young people that allows them to accurately emulate what happens in the business world. Students have had the opportunity to learn the same things that are done in companies, making real decisions through the use of an innovative learning tool such as the latest generation virtual simulators,» explained Nuño Nogués, director of the Young Business Talents educational program.
Nogués detailed that, in this way, «they have been able to put into practice and consolidate the theoretical knowledge acquired, in a playful way through gamification, which provides them with an extra motivation. They have fostered skills such as teamwork, decision-making, and strategic thinking, which will be crucial to work together and achieve victory during the final phase of this competition.»
DIFFERENT PHASES
Until reaching the final, the 336 young people embarked on this unique educational experience in November, and since then they have had to overcome different stages online from their classrooms with the help of their economics teachers. This educational program has been included as a complementary part of their business-related subjects, with the aim of introducing innovative teaching practices.
In order to participate, all educational centers received the business management simulators for free, the same ones used in universities, business schools, and leading companies, valued at over 3,000 euros.
In total, since the beginning of this fourteenth edition, a total of 11,466 pre-university young people from 412 educational centers throughout Spain have participated, including the 336 young people who will meet in person at the final on March 21 in Madrid.
The winning teams will share over 10,000 euros in prizes among students and teachers, as well as certificates that will help them improve their professional future. During the last edition, three students from 4th of ESO at the IES Corbera de Llobregat, in Barcelona, were crowned winners of the XIII edition of Young Business Talents.
