Institutional Partner of Virtonomics Business Challenge

Partnership with public and governmental institutions interested in entrepreneurship development, stimulating small businesses in their regions, and forming new business practices.

Organize a regional management and entrepreneurship championship under your organization’s brand in a game-based format to promote youth entrepreneurship, practical training, and development of small and medium-sized business managers.
Make your regional business championships a regular practice. Create multiple leagues within the business championships. For example, an amateur league for beginner entrepreneurs and students, and a professional league for managers of established companies and members of your organization.

Benefits of the partnership with Virtonomics Business Challenge

Social Impact and Regional Development: VBC-based championships help create a new generation of entrepreneurs and professionals developing business management skills. Your organization will take the lead in supporting local entrepreneurship and stimulating economic growth.
Promotion of Entrepreneurship: Regular business championships generate interest in entrepreneurship among the youth, attract media and business community attention, and raise the prestige of your organization.
Network Expansion and Partnerships: Hosting championships offers opportunities to collaborate with large companies, educational institutions, and other organizations, facilitating partnerships and knowledge exchange.
Commercial Benefits: Attract sponsors to fund the championships, and possibly monetize participation by selling tickets or offering additional services.

Case examples:

1 – Commercial Open Championship of Virtonomics Business Challenge:

Your institution organized an annual open management and entrepreneurship championship on the VBC platform for beginner entrepreneurs and representatives of SMBs. You attracted 10,000 participants, each paying $40. Your total revenue would be:
10,000 participants * $40 = $400,000 in entry fees, of which:

$12 * 10,000 = $120,000 is the cost of tickets,
The prize fund is $10,000.
Net profit from one event = $270,000.

2 – Non-commercial Championship for Beginner Entrepreneurs:

Your organization conducts a regular multi-stage championship for your members. For example, 2,000 people participate:

Stage 1: Qualifying round to select 200 top players for the final. The cost for 2,000 participants is $24,000.
Stage 2: Final round with a $3,000 prize fund. Ticket cost for 200 finalists: 200 * $12 = $2,400.
Total expenses for a large-scale, socially impactful event = $29,400, which can be easily covered by 1-2 sponsors.

To-Do List

Register your organization on the VBC platform and create a Master Account to manage the championships.
Use the game planner to create a regional business championship, selecting appropriate scenarios and competition formats.
Set up leagues for different participant categories: beginner entrepreneurs, students, and active company managers.
Organize ticket sales for participants and attract sponsors to create a prize fund.
Develop a marketing campaign using your network and media to attract participants.
Host regular championships, analyze participant performance, and provide feedback to improve their skills.

Ideas, Tips, Recommendations:

Consider inviting local companies as sponsors and partners to increase the prestige of your championships.
Include the championships in state entrepreneurship support programs to boost popularity and secure additional resources.
Organize special championships for government employees and small business staff to foster their professional development.
Engage regional media to cover your events and reward winners, elevating the status of your organization.
Create multi-stage championships with increasing difficulty to deepen business skills development.

How to Become an Institutional Partner:

Host at least 3 large regional championships for beginner entrepreneurs or managers.
The total number of participants across all your championships should be at least 1,000 people.
Apply to the VBC support team to be awarded official Institutional Partner status.

Additional Benefits of Official Institutional Partner Status:

Your organization will be listed in the “Institutional Partners” section on the VBC website.
Participate in international and interregional championships under your organization’s brand.
Access exclusive game scenarios and methodological materials for hosting business championships.
Attract additional partners and participants through announcements of your championships on the VBC website.
Participate in major national and international projects aimed at developing entrepreneurship.

For Educators and Managers

You want to organize a business game competition for your students or employees

For students and employees

You want to become a participant in a competitive business game