The Design and Use of Agent-Based Modeling Computer Simulation for Teaching Technology Entrepreneurship

Abstract

Entrepreneurship is complex and dynamic. It involves continuously pursuing novel or better products and business models amidst constraints, uncertainty, and constant change among participants (or "agents") in the ecosystem. Entrepreneurship education, therefore, needs to be non- linear. Yet, traditional teaching methods in entrepreneurship came from business management education practices: lectures, case studies, and group discussions–mostly ineffective because entrepreneurship is more dynamic and non-linear. Recent entrepreneurial experiential learning attempts include starting and running a business and using computer simulations to reduce time and cost. This study focuses on the agent-based computer simulation approach. It aims to design and build, using existing open-source frameworks, a simulation environment specifically for technology entrepreneurship, with the choice of technology entrepreneurship forcing novelty and relative market uncertainty in product offerings. The design and selection of technologies will follow evaluation frameworks on the effectiveness of entrepreneurship teaching simulation environments: fidelity, verification, and validity. The expected output will be a simulation environment resulting from multiple design-build implement iterations. The simulation core engine shall interface with a Learning Management System (LMS). The study will also generate insights after simulation sessions with students through educational data mining (EDM) of the resulting logs.