This study examines the effectiveness of virtual team learning for entrepreneurship competence in the Chinese higher education sector. Related research on the effectiveness of virtual team learning is sparse, especially in the area of entrepreneurship education. We assumed four hypotheses to analyze two sorts of relationships: one between input, respondents’ demographics or characteristics, and mediators, namely virtual teamwork, virtual taskwork, information and communication technology; the other between mediators and output, thus the effectiveness of entrepreneurship education. An online survey was carried out to collect respondents’ perceptions of virtual team learning in entrepreneurship education from teamwork, taskwork, and information and communication technology aspects, considering respondents’ demographics or characteristics. By explaining factors of the team process, the findings show that virtual teamwork, taskwork, and information and communication technology positively affect the entrepreneurial outcome of virtual team learning. Additionally, individual characteristics, including gender, education degree, education field, entrepreneurial family history, and prior entrepreneurial experience have different effects on three elements of virtual teams. The applied model provides a holistic perspective on virtual team learning and explains the association between three sectors. These findings may provide an empirical basis for making decisions in the design and development of entrepreneurship learning and teaching offerings.