Abstract
Business simulations are extensively and increasingly used in entrepreneurship education. Yet their benefits are only partially understood. Most evaluations are only based on participant satisfaction and overlook these simulations’ educational benefits. This article presents the results of a study aiming to evaluate a business simulation specifically dedicated to entrepreneurship, through triangulation and combining the models of Feinstein and Cannon (2001) and Fox et al. (2018). Our evaluation analyzes the simulations along three dimensions: (1) the “fidelity” of the simulation, (2) the types of learning triggered, and (3) the “validity” of simulation models. The three evaluation dimensions highlight this simulation’s educational benefits. Moreover, they demonstrate the value of data drawn from these simulations to grow our understanding of startup management processes, consistent with past academic research on business simulations of mature firms.