From Entrepreneurial Intentions to Virtual Venture Creation: Examining the Role of Metaverse-Based Learning in Actualising Startups in Developing Economies

Abstract

This study investigated the role of metaverse-based learning (MBL) in translating entrepreneurial intentions (EI) into actual venture creation (AVC), with a focus on developing economies. The aim was to explore how immersive digital environments foster entrepreneurial competencies and address the intention-action gap, while considering the moderating effects of contextual factors such as financial resources, infrastructure, and socio-cultural support. Adopting a quantitative research methodology, the study employed a cross-sectional survey design and Structural Equation Modelling (SEM) to analyse data from 350 university students and early-stage entrepreneurs engaged in metaverse-based programs. The findings indicate that there is a strong and positive connection between metaverse-based learning (MBL) and entrepreneurial intention (EI). Additionally, entrepreneurial intention plays a mediating role in the relationship between MBL and actual venture creation (AVC), meaning that EI serves as a critical pathway through which MBL influences AVC. The study also highlighted that contextual factor, such as supportive environments or ecosystems, further enhances the relationship between EI and AVC. This underscores the importance of fostering environments that encourage and nurture entrepreneurial endeavours to strengthen their potential impact on venture creation. The study underscored the transformative potential of MBL in enhancing entrepreneurial self-efficacy and readiness, while emphasising the need to address systemic barriers. The study recommends that expansion of digital infrastructure, integrating contextual factors into MBL design, provide financial support mechanisms, fostering mentorship networks, and establish inclusive policies. These insights contribute to theoretical advancements in entrepreneurship and experiential learning, offering practical strategies for leveraging the metaverse to drive sustainable economic growth in resource-constrained settings.