The Neuqua Valley Virtual Enterprises International (VEI) class allows Neuqua students to create their own theoretical businesses every year. Recently, they successfully created and raised over a million dollars in profit.
VEI gives students the opportunity to be “hands-on” in a simulated, global business environment. The VEI employees (the students) are involved in the everyday tasks of running their own business: sales, marketing, web and graphic design, product development, accounting, human resources, administration and management. “This program has provided real world experiences that are typical and viable at the college level, and it’s going to make the students in Naperville much more competitive as they move into the workforce,” says Steve Chirico, the Mayor of Naperville who visited the ribbon cutting ceremony for Summit.
The product being sold is a sticker that, when put on your phone, serves as a battery, tracker and hotspot. Summit made a deal with AT&T. By using the cellular company’s cell phone towers, Summit made the sticker a hot spot in any location: no matter how remote. They make their profits at trade shows and using an online website to email other companies to buy their products. “It has been a very fulfilling experience to run a company like Summit,” says the CEO of Summit, Alvaro Munoz.
Summit, in particular, is one of the most profitable start up businesses in the history of VEI. “We earned more than a million dollar in sales. We hope to pass on our work, passion and collaboration” says Rushil Kothare, head of the financial sector of Summit. Summit will leave 30,000 dollars to next year’s students and will inspire students to persevere through the adversities of business.
Story by Katya Brovkovychy