Business Lab

Business Lab is an educational simulation game that introduces young people and emerging entrepreneurs to the fundamentals of entrepreneurship — from strategic thinking and market analysis to crisis response, teamwork, and creative resilience. It’s more than a game; it’s a dynamic platform where participants experiment, learn from failure, and build the confidence to act.

Developed in collaboration with experts from the Latvian Investment and Development Agency (LIAA) and supported by the Stockholm School of Economics in Riga, Business Lab has already reached over 1,000 participants across Latvian cities — from secondary school students and university youth to early-stage entrepreneurs.

At its core, Business Lab cultivates the entrepreneurial mindset: the ability to find unconventional solutions to unexpected problems, to think strategically under pressure, and to act with creativity and clarity even in moments of crisis. With over 40,000 unique scenario combinations, each round of the game presents teams with tailored challenges requiring financial literacy, risk assessment, persuasive communication, leadership, and adaptability.

The format is particularly effective for students aged 15–19, including those in the School Student Company (SMU) program. Participants take on key business roles — CEO, analyst, planner, marketer — and practice setting goals, making decisions, analyzing competitors, and presenting ideas under time constraints.

But it’s not just for youth. Business Lab has also proven itself as a powerful team-building and networking tool for adult entrepreneurs, startup founders, and educators. The game offers a space for reflection, experimentation, and connection — with room to test strategies and take risks in a no-stakes environment.

The game is available in Latvian, Russian, and English and can be booked by schools, NGOs, municipalities, universities, or private organizations seeking to inspire creative problem-solving and develop next-generation business skills in a truly engaging way.