A recent study by The Canadian Bank of Commerce on financial literacy in Canadians brought forward insights that indicate early emphasis on personal finances for the upcoming generation. The study reflects that almost 60% of Canadians wish that they had a stronger level of financial literacy. A survey, conducted by Angus Reid for Tangerine Bank, showed that only 3% of Canadians could identify the meaning of six common acronyms used in banks. For one innovative founder, these statistics and her personal experience were the tipping point to make a difference.
Meaghan Daly, Chief Executive Officer and Founder of Forward Vision Games, is on a mission to revolutionize the financial sector through simulation-based games that teach participants the financial skills required to thrive in the modern economy. Delivered in blended learning environments, these experiential games provide you with pretend money, including virtual bank accounts and credit cards, so gamers can make their own decisions and see its outcome in the long-term. “Most people learn skills through experience. In life, it’s one of our best teachers. However, when it comes to learning financial skills, this can be a very expensive way to learn,” says Daly. Through this simulation, learners master problem-solving, and study different financial tools, investment options and their applications, setting them on a path to better financial prosperity.
Financial literacy and entrepreneurship was not a path that Daly actively sought for herself. Working as a former Senior Equity Trader on Bay Street and going through the financial crisis in 2007-2008, exposed Daly to how businesses, organizations and individuals treat and understand risk. In the numerous calls and conversations during the crisis, Daly noticed a common thread – a lack of foundational financial knowledge, regardless of an individual’s level of education or wealth. “I had a desire to change things, so I started to volunteer in the financial literacy sector. What I encountered was outdated teaching methods and misconceptions about the modern financial sector. This led me to create Forward Vision Games,” shares Daly.
While impacting lives through financial knowledge one game at a time, Daly and her team have also focused on economic reconciliation through their technology. With inclusive practices to incorporate Indigenous world view of money and finance, Daly truly believes that economic reconciliation happens only when we take active and continued actions. Having a 50% Indigenous-identifying user base, Forward Vision Games also signed a MOU with the Indigenomics Institute in 2023 to continue their mission, and planning to include a focus that advances women and newcomers. All these initiatives are not just to achieve the goal of inclusivity but have a deeper and long-term advantage for unique financial sectors, other partners (such as schools) and participants. “Our driving vision right now is to lean into our data. The style of game play we have designed allows us to build a large aggregate data bank of financial behaviors,” shares Daly. This product enhancement helps Forward Vision Games to teach financial literacy and helps the venture scale effectively.
Looking back at her journey, Daly mentions how raising capital has been one of those aspects of business that has had multiple junctures at every level. A quick learner, when Daly did not successfully close a round in the early years of Forward Vision Games, she realized the importance of bootstrapping to develop a MVP. Building a scalable technology that delivers financial modelling stimulation to four provinces with a proven market validation through partnerships and cash flow, Daly is more ready than ever to grow faster and anticipates raising their first round in the next year. “We’re looking for investor introductions to take the next step in reaching our vision for Forward Vision Games,” shares Daly.
As a women-identifying founder in the EdTech space, we asked Daly the one piece of advice that she would give to fellow founders. She mentioned how having genuine curiosity to learn about the journeys of successful founders and seasoned entrepreneurs helped her in rapidly expanding her network. “This approach has proven more effective than attempting to deliver a rushed one-minute pitch about my company in the 30 seconds I have had in proximity to key people at events and conferences,” says Daly.
Daly’s moonshot extends beyond entrepreneurship to a broader mission of economic reconciliation and empowerment as evident from her efforts of integrating experiential learning in regular curriculum, but also in embracing inclusivity in her stimulation. With a focus on data-driven scalability and strategic partnerships, Forward Vision Games is on the journey to shape and influence a more financially empowered future for all.
To learn more about Forward Vision Games or connect them to investors who may share their vision, visit their website here.