AI-Empowered Shark Tank Simulation for Pitch Preparation and Entrepreneurial Skill Development

Entrepreneurship education struggles to prepare students for high-stakes investor pitches because instructor time, uneven peer feedback, and limited iterative practice leave students underprepared. We develop an AI-Empowered Shark Tank Simulation that combines experiential learning (iterative practice and reflection) with role-play (students as entrepreneurs; AI as VC judges) to create realistic, psychologically safe rehearsal spaces. CustomGPT judges apply a 10-criterion investor rubric, provide rubric-anchored scores and actionable qualitative feedback, and simulate investor Q&A so teams can revise and rehearse before live judging. Piloted in a project-based entrepreneurship course, the simulation enabled scalable formative assessment, candid critique without peer-pressure, and targeted improvement in pitch clarity, validation, and defensible reasoning. By integrating simulation pedagogy and scaffolding, the approach offers a transferable, theory-informed model for improving pitch readiness across undergraduate and graduate management courses.