Inspired by government’s initiatives of promoting Start Ups and “Make in India”, both under-graduate and graduate aspirants have started taking immense interest in the innovative entrepreneurship programs offered by the business schools across the country. The main reason for this trend is the fact that some of the Top Tech Startups today were launched out of business schools’ dorm rooms, classrooms, competitions and incubators. Even for students who don’t aspire to be founders, the opportunity to build a unicorn-level startup from the ground up can be more enticing than a comfortable but monotonous job in a traditional industry such as Consulting or Finance. Many business schools believe an MBA offers value to entrepreneurs, and thus have introduced specializations in entrepreneurship. If you’ve started your own business or are thinking about doing so, it pays to look at the benefits of an MBA. However, there’s a persistent lack of hard data on compensation in today’s startup world, as compensation varies dramatically depending on the stage, industry and location of the business.
While counseling students and talking about ‘Entrepreneurship’ concentration, we suggest them to follow the essence of entrepreneurship, which is the passion that transforms an idea into a thriving business and passion is difficult to learn in school, but for those who have it, knowing how to get a business up and running can make all the difference in the world. Confidence on your business knowledge and skills will allow you to take the risks that are an inherent part of entrepreneurship. By looking at case studies of businesses that have failed, you will be better prepared to avoid making similar mistakes.
In Business School curriculum, Entrepreneurship often requires students to work in teams to set up a business venture. Some programs even provide opportunities for students to pitch their business plans to investors and venture capitalists. An MBA program can also provide an entrepreneur with valuable mentorship and networking opportunities. You may be able to connect with alumni in your sector or to complete an internship with a successful entrepreneur. The opportunity to make contacts you make while pursuing an MBA might never be available to you outside business school.
Students often ask us, “Will I get a job after completion of MBA in Entrepreneurship?” The answer is “Yes!” An MBA in entrepreneurship doesn’t mean that starting your own business will be your only option. An increasing number of established corporations and businesses are looking for employees with an entrepreneur’s mindset. Employers across the board expect initiative and innovation from MBA graduates, because MBA programs, that offer a specialization in entrepreneurship, can teach you about the Innovation Life Cycle, including how to take an idea through the phases of research and development, and how to introduce a new product or service. A good entrepreneurship program will help you learn how to spot emerging trends and opportunities in the market that will sustain your career over the long term.
Hence, an MBA with a specialization in Entrepreneurship is a good investment for the future career growth both in the corporate world and for people who want to start their own business. The innovative approach and the art of effectively implementing ideas that the student learns in this program is indispensible for the growth of a newly budding enterprise.
Senior Vice President & Head-Admissions,