Entrepreneurship education is ripe for utilizing experiential learning methods. Experiential methods are best learned when there is constant immersion into the subject matter. One such transformative learning methodology is Virtual Enterprise (VE). Virtual Enterprise is a multi-faceted, experiential learning methodology disseminated by the City University of New York. (CUNY) CUNY has administered VE methodology on a variety of student cohorts who have found VE methodology very effective and helpful for achieving their entrepreneurship education goals. Virtual Enterprise has its roots at Kingsborough Community College since 1998. CUNY administrators were so impressed with the results at Kingsborough that they created the Institute for Virtual Enterprise in May, 2002. The award winning methodology has been the subject of various research studies concerning its effectiveness on various student cohorts. This article is a brief synopsis of the evolution of VE, its multi-faceted approach to entrepreneurship education, and its effectiveness as a transformative, experiential methodology.