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TTK University of Applied Sciences opened a new business lab at its Service Economy Institute in Mõdriku, Lääne-Virumaa. The lab will provide students with the opportunity to take part in business simulations and gain practical, real-world business experience as an integral part of their studies.
“This interactive learning environment brings theory and practice together, allowing students to experiment with entrepreneurial decision-making in a safe yet realistic setting,” said Kati Kukk, Director of the Service Economy Institute at TTK University of Applied Sciences.
According to Kukk, the business lab enables students to think and act like entrepreneurs by making strategic decisions, analysing market conditions and managing teams. “This kind of hands-on experience creates a strong link between academic studies and the real business world.”
“Our goal is for the business lab to become a meeting place for education, entrepreneurship and innovation,” Kukk added. “It is a platform where students and companies can test new ideas and see how data-driven thinking and simulations support smarter decision-making.”
The lab uses virtual business simulations and digital twin solutions to offer a comprehensive overview of business processes — from accounting and financial analysis to strategic planning and risk management. These simulations help develop students’ decision-making skills, entrepreneurial competences and teamwork abilities.
The business lab can accommodate up to 24 participants, and its flexible layout supports a wide range of collaborative learning formats. In addition to students, the lab is also available for rent by companies and other organisations for meetings and training sessions, or for tailored professional development programmes delivered by TTK University of Applied Sciences.
View photos of the business lab here. Photos: Jaana Siik.
