VEP
Virtual Entrepreneurship Program:
Transform your unique ideas into a business, set up and run your own Practice Enterprise, also known as a Virtual Enterprise, gaining hands-on experience in entrepreneurship and essential career skills for success in college and beyond.
Presented by KoreaPEN (Korean Center of PEN Worldwide)
About VEP & PEN
VEP is a Practice Enterprise-based, internationally recognized after-school program and one of the best pathways to higher education and career readiness. It offers students the chance to grow alongside peers from around the world, building valuable skills and enhancing their competitiveness for college admissions.
The PE program is used by educational institutions globally, including the U.S., Europe, and Asia, and has been recognized as the top practical program in entrepreneurship within the EU.
A report from Columbia University’s Teachers College found that the PEN program is tailored for college preparation, with 67% of participants saying it helped with major selection, and 66% noting it laid a foundation for active participation in college classes.
in U.S.
VEP is offered as AP program in over 500 high schools.
in Europe
  • Accredited course for high school and college students focused on career experiences and entrepreneurship.
  • Recognized by the Ministry of Education and employers.
in Asia
  • Curricular/extracurricular course in international schools and universities focused on career development and entrepreneurship.
Welcome to VEP
The Virtual Enterprise Program (VEP) enables students to run a company that operates like a real business, supported by the worldwide network of Practice Enterprises. Each Practice Enterprise (PE) is part of a global network with over 7,000 PEs and 200,000 trainees across schools, universities, vocational training centers, companies, and other institutions in more than 40 countries.
You’re about to embark on an exciting journey where you’ll gain hands-on experience, face real-world competition, network with peers, and connect with college and business partners—all creating a pathway to higher education and career readiness.
VEP: Creating a Distinct Competitive Edge
Offered at major international schools in Korea, VEP is designed for middle and high school students preparing for studying abroad or domestic university admissions.
VEP Key Benefits
  • International Certification:
    Students who complete the activities will receive a certificate recognized by the EU and PEN Worldwide Association. This certification is a significant achievement that demonstrates global competencies and greatly aids in college entrance exam preparation and career development.
  • Letters of Recommendation:
    Upon request, dedicated coaches and professional mentors provide personalized letters of recommendation. These letters can be invaluable for college admissions and future career opportunities.
  • Opportunity to Participate in the International Youth Business Competition (YBS):
    Students in grades 9-12 can participate in the International Youth Business Competition (YBS), held annually in New York. The 25th YBS will take place on April 7-8, 2025.
  • University Life Adaptation and Career Preparation
    VEP helps students adapt to university life and prepare for their careers beyond. Our program emphasizes developing essential skills for the AI era such as effective communication, self-directed learning, problem-solving, and global competencies, all of which are crucial for success in higher education and the professional world.
VEP Target Group
  • VEP: Grades 9-12
  • VEP Junior: Grades 6 - 8
This program will provide you with diverse opportunities to explore potential future
careers and offer you a unique pathway to prestigious universities.
Students Testimonials
Participant from the USA
"Through the PE program, I discovered my career aspirations. The program and competition activities helped me build a portfolio that was invaluable in gaining admission to my target university."
Participant from Europe
"Founding and managing a PE with my classmates allowed me to build leadership and presentation skills, while also discovering the appeal of entrepreneurship. It was an incredibly valuable experience."
Participant from Korea
"With the startup idea I presented in the PE program, I was selected for Intel’s university startup support project and eventually succeeded in launching a real business. It was a truly rewarding journey."
Program Structure
Duration
A flexible program spanning 100 to 160 hours over 1 to 2 school years
Steps
A 6-step journey designed to progressively enhance your entrepreneurial skills.
Focus
Covering everything from idea generation to global business execution.
6-Step Journey
Step 1
From idea to business
Lay the groundwork needed to create a company including coming up with your business idea and business modeling, learning teamwork and work tools as well as setting ground rules
Special Event: Virtual Investment Pitch
Step 2
Establishing your startup
Develop your business model and vision and work on your marketing strategy. Learn how to plan your budget and how to manage your employees
Special Event: PEN Business Meetup
Step 3
Develop your product
Learn about the Minimum viable product, how to do prototype testing and all about intellectual property
Special Event: PEN Online Competition, PEN Business Meetup
Step 4
Marketing and branding
Learn how to better sell your product and build a strong brand through digital marketing and video production
Special Event: Corporate Tour Experience, PEN Business Meetup
Step 5
Business scaling
Learn how to expand your business internationally through networking and trade fairs
Special Event: YBS Trade Fair in New York, PEN Worldwide Online Trade Fair
Step 6
Sustainability and Lasting Impact
Dive into sustainability and learn how to align your business with long-term goals for success.
Special Event: PEN Financial Statement Meeting
Task-based curriculum with Coaching and Mentoring
VEP provides a task-based curriculum and expert mentoring to ensure students successfully engage with the program. We promote student growth through comprehensive support, including an online manual book, dedicated coaching, business meetups between Practice Enterprises (PEs), and expert feedback..

1

Self-Directed Learning
Based on online materials and manuals, students enhance their self-directed learning skills by completing individual and team assignments.

2

Dedicated Coaching
Certified foreign facilitators from PEN Worldwide provide in-person guidance once or twice a week, encouraging active participation from students and addressing their inquiries.

3

Online Coaching
Through an online platform, students can ask questions and receive answers without constraints of time and space, enabling them to efficiently engage in team activities.

4

Expert Mentoring
Experts in the art and design fields, along with entrepreneurial consultants, provide feedback on students' projects, offering practical assistance and realistic advice to aid in career exploration.
Program Objectives
G U I D E
Gain a global citizenship mindset and embrace diverse perspectives in business and society.
Utilize technology effectively as it applies to modern business practices.
Identify career pathways by exploring a variety of professions and industries.
Develop key entrepreneurial skills such as problem-solving, teamwork, time management, communication and public speaking.
Experience real workplace expectations and cultivate professional behaviors through hands-on activities.
What You'll Gain
D R E A M
Differentiate your personal portfolio through your global entrepreneurship experiences.
Receive a global certificate recognized by PEN Worldwide and the EU.
Engage in mentorship from seasoned business experts through group and one-on-one sessions.
Attend a world-class entrepreneurship program that prepares you for real-world challenges.
Meet and network with students from 42 countries and connect with 7,000 Virtual Enterprises globally through PEN Worldwide.
VEP structurally guides students through
Developing and launching business ideas
Creating and executing plans and strategies
Engaging in international business meetings
Pitching to investors
Managing day-to-day business operations including project management, budgeting, conducting meetings, and professional communication
More Than Just Learning - Become an Entrepreneur
In the VEP, you won’t just learn about business—you’ll become an entrepreneur. You’ll create and run your own virtual company, gaining real-world experience and learning what it takes to be a business leader.
VEP
The Start of Your Entrepreneurial Journey
Throughout this program, you’ll participate in a series of sessions, each building on the previous one, guiding you step by step toward launching your startup.
Preparing Future-Ready Leaders Through Practical Entrepreneurship and Self-Directed Learning

Empowering Future Leaders
The Virtual Entrepreneurship Program (VEP) empowers students to become future-ready young leaders by focusing on essential skills like digital literacy, critical thinking, problem-solving, creativity, collaboration, leadership, flexibility, and emotional intelligence.

Theoretical and Practical Experience
This program combines theoretical knowledge with practical experience, preparing students for permanent growth in today's fast-changing global environment.

Cultivating Self-Directed Learning
VEP offers a comprehensive, hands-on experience for aspiring young entrepreneurs, emphasizing learning-by-doing and self-directed learning. Participants will develop key entrepreneurial skills and the mindset needed for higher education and careers.
Curriculum of STEP 1
Curriculum of STEP 2
Frequently Asked Questions (FAQs)
What is a Practice Enterprise, so called Virtual Enterprise (VE)?
A Virtual Enterprise (VE), also known as a Practice Enterprise(PE), is a simulated company that mirrors real-world business operations. You will manage and run your VE(PE) just like a real company.
What will I learn in VEP Step 1?
You will learn how to brainstorm business ideas, create a business model, develop products/services, market them, and present your ideas to potential investors.
How will the program benefit my future career?
You will gain hands-on experience in entrepreneurship, teamwork, and leadership, while developing skills in digital tools, critical thinking, and collaboration. These are highly sought-after skills in any career.
For more information
For more about the Virtual Entrepreneurship Program please contact [email protected]
For more about Virtual Enterprises, also known as Practice Enterprises, please visit the PEN Worldwide and USA Chapter: www.veinternational.org www.penworldwide.org
Watch the following videos for further reference:

01:42

YouTube

Global Enterprise Challenge - Seoul, South Korea

02:35

Vimeo

How VE Works

02:58

YouTube

PEN Worldwide EN

Introduction to the Worldwide Practice Enterprise Network in English. If you are interested in learning more about PEN Worldwide, visit our website: www.penworldwide.org

Let's Get Started!
This program is your chance to experience entrepreneurship in a practical, hands-on way. By the end, you will have learned the key steps to launching a startup, gained global connections, and built a portfolio of skills that will set you apart in your future career. Let's build your business together!
Contact
Address : 54 Seoulsup-gil, Seongdong-gu, Seoul 04766, Republic of Korea
Telephone : +82 2 323 8523 | Email :[email protected] ​
Copyright ⓒ 2024 KoreaPEN All rights reserved.