Irish Firm Partners Babcock University To Tackle Youth Unemployment
•By KAZEEM AWOJOODU
IBADAN — IN an effort to address youth unemployment and strengthen entrepreneurial skills among students, Babcock University has partnered with Irish corporate development firm, SIM-PLEMENT, to introduce a cloud-based business simulation model designed to provide hands-on entrepreneurship training.
The initiative is being led by the Director of Babcock University’s Entrepreneurship Development Centre, Dr. Ayodeji Ajibade, in collaboration with Mr. Oladimeji Oluseyi (PMP), Lead Product Manager and Co-founder of SIM-PLEMENT Business Training Ltd.
Speaking with journalists during a visit to the university, Dr. Ajibade explained that the simulation offers students a structured and risk-free environment where they can apply classroom knowledge to practical business situations.
According to him, the programme is integrated into the university’s third-year Venture Creation course, which adopts a systems-based approach that blends theory with real-world practice.
“The business simulation is being used in our third-year Venture Creation course. Students work in teams and take on roles such as Chief Executive Officer, Chief Financial Officer and Marketing Lead, similar to the structure of a real company,” Ajibade said.
He noted that the arrangement allows students to develop decision-making, leadership, teamwork and accountability skills while experiencing the dynamics of running a business without real financial risks.
The simulation runs through six rounds, during which students analyse performance data, make operational and financial decisions, and refine their strategies.
In the first round, participants focus on foundational tasks such as selecting a business name and location, steps designed to demonstrate the importance of branding, market positioning and strategic planning.
Subsequent stages expose them to operational management, finance and broader business strategy, giving them a deeper understanding of entrepreneurial challenges within a controlled virtual environment.
Ajibade said the approach helps bridge the long-standing gap between theoretical learning and practical experience.
“Unlike the traditional classroom setting, students are no longer passive recipients of knowledge. They actively apply business concepts, learn from their mistakes and understand the consequences of their decisions,” he said.
“The early results have been highly encouraging, and we expect this model to become a central component of entrepreneurship education at Babcock University.”
Also speaking, Oladimeji emphasised the importance of international collaboration in advancing innovation and entrepreneurship education.
“In Nigeria and globally, there is a growing emphasis on enabling people to engage with international systems and practical experiences. Through partnerships with global companies such as Amazon and SIM-PLEMENT, we are exploring innovative methods and drawing lessons from markets in the United Kingdom and the United States,” he said.
He explained that the programme is designed to complement the business simulation component by introducing students to angel investors who can collaborate with them on real-world business projects.
According to him, the initiative also helps participants develop financial literacy, manage budgets and practise strategic planning, equipping them with practical experience beyond the classroom.
“Students leave with not only knowledge but also the confidence and skills needed to launch ventures and contribute to economic growth,” Oladimeji added.
The partnership has also created learning opportunities for lecturers, who are adapting to the interactive model in order to deliver more practical instruction.
Ajibade described the development as beneficial to both students and faculty.
“This is not just about teaching. It is about building an ecosystem that supports creativity, critical thinking and problem-solving,” he said.
Chief Executive Officer of SIM-PLEMENT, Mr. Klaus Walter, expressed optimism about the long-term impact of the initiative.
“Our mission is to equip students to thrive as innovators and business leaders. By combining practical simulation, mentorship and international insights, we are preparing graduates to navigate economic challenges and create meaningful opportunities for themselves and their communities,” he said.
Walter added that the cloud-based simulation platform enables students to gain risk-free managerial experience while learning key aspects of business such as strategic planning, marketing fundamentals and entrepreneurial decision-making.