Masters in Entrepreneurship and Innovation is a postgraduate course that prepares individuals to successfully approach their careers with more freedom and innovation. It focuses on inherent traits like passion or motivation that can help a business drive and thrive, it imparts knowledge on business disciplines and develops an entrepreneurial mindset that can lead to a successful enterprise. In this blog, we will understand why a masters in entrepreneurship is important, its curriculum, top universities & colleges offering this two-year advanced course, career prospects, and more!
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This Blog Includes:
- Why Masters in Entrepreneurship and Innovation?
- Masters in Entrepreneurship and Innovation: Curriculum
- Masters in Entrepreneurship and Innovation: Elective Courses
- Masters in Entrepreneurship and Innovation: Admission Requirements
- Top Universities in the World 2021
- Top Colleges in India
- Masters in Entrepreneurship and Innovation Online/Part-Time
- Careers and Average Salary
- MS vs MBA in Entrepreneurship
Why Masters in Entrepreneurship and Innovation?
Masters in Entrepreneurship and Innovation is a two-year advanced degree course. This program focuses on ideals of practical business knowledge and strategies. It enhances one’s decision-making process, problem-solving ability and critical thinking and interpersonal skills. It allows you to apply the knowledge to real-world challenges. An MS in Entrepreneurship and Innovation course pursued from a reputed university or a school is a good choice if you are looking for candidates looking to upskill or develop a venture. Master in Entrepreneurship and Innovation is ideal for candidates who have a family business or private ventures. The course helps in scaling up a family business or launching a new venture.
Masters in Entrepreneurship and Innovation: Curriculum
The course structure of this program would vary among different colleges or universities depending upon the specialization they offer. The core courses usually cover fundamental business topics for entrepreneurs including:
- Marketing Management
- Operations Management
- Strategic Management
- Finance for Entrepreneurs
- Fundamentals of Entrepreneurship
Masters in Entrepreneurship and Innovation: Elective Courses
Students can choose electives as per their choice or interest. Also, it depends upon the preference of the university or college they want to take admission in. Here’s a representative sample of electives:
- New Venture Creation
- Project Management
- Franchising
- Venture Growth Strategies
- Entrepreneurial Mind-set
- Family Business
- M&A for entrepreneurs
- Social Entrepreneurship
- Managing Growth
- New Product Development
Masters in Entrepreneurship and Innovation: Admission Requirements
Prerequisite for Masters in Entrepreneurship and Innovation:
- Undergraduate Degree or Equivalent is required
- Work Experience Requirement (may or may not be required)
- State of Purpose/Essays
- Letter of Recommendation
- Resume
- Academic Transcripts – Undergraduate or Graduate
- GMAT or GRE score (may or may not be required)
- English Language Requirement
- Interview
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Top Universities in the World 2021
S.No | University | Country | Program | Duration | Fees |
1. | ESADE | Barcelona, Spain | MSc in Innovation and Entrepreneurship | One academic year | € 29,100(INR 25,51,953) |
2. | Babson College | USA | Master of Science in Management in Entrepreneurial Leadership | 9 months | $54,600(INR 40,65,957) |
3. | HEC Paris & Ecole Polytechnique | Paris | MSc X-HEC Entrepreneurs | 10 months | € 25,750(INR 22,57,940) |
4.. | Lancaster University Management School | England, UK | MSc Entrepreneurship and Innovation | 12 months | UK / EU £13,000(INR 13,29,953) International £20,000(INR 20,46,082) |
5. | Northeastern University – D’Amore-McKim School of Business | USA | MS in Technological Entrepreneurship | Full-time10 months part-time2 years | $1,640 (per credit hour)(INR 122,110)30 credit hours |
6. | University of Cambridge – Judge Business School | Cambridge, UK | Master of Studies in Entrepreneurship | 2 years | Fees £34,602(INR 35,40,034)(£17,301 per year) |
7. | The London School of Economics and Political Science | London, UK | MSc Social Innovation and Entrepreneurship | 12 months | UK/EU: £30,684(INR 31,39,491)Overseas: £31,260(INR 31,98,426) |
8. | Imperial College Business School | London, UK | MSc Innovation, Entrepreneurship & Management | 12 months | Fees: £29,500(INR 30,18,153) |
9. | USC Marshall School of Business | USA | Master of Science in Entrepreneurship and Innovation (MSEI) | 12 months | Tuition fees for one credit $1,980 (INR 1,47,423)27 credits |
12. | Cranfield School of Management | England, UK | Management and Entrepreneurship MSc | 1 year | EU fees £12,000(INR 12,27,723)Overseas fees £20,500(INR 20,97,178) |
13. | UCI Paul Merage School of Business | USA | Master of Innovation and Entrepreneurship (MIE) | 9 months | $49,998(INR 37,22,676) |
14. | University of Washington – Foster School of Business | USA | Master of Science in Entrepreneurship | 12 months | WA resident $26,400(INR 19,65,651) non-resident $40,500(INR 30,15,488) |
15. | EDHEC Business School | France | MSc in Entrepreneurship & Innovation | 1 year | €24,900(INR 21,83,182) |
16 | University of Bath School of Management | England, UK | MSc in Entrepreneurship and Management | 1 year | Home/EU: £14,000(INR 14,32,521)Overseas: £20,000(INR 20,46,431) |
17. | Penn Graduate School of Education | USA | M.S.Ed. in Education Entrepreneurship | 13 months | $67,540(INR 50,28,724) |
18. | The University of Manchester | England, UK | MSc Innovation Management and Entrepreneurship | 12 months full-time or 24 months part-time | UK/EU students (per annum) £13,000(INR 13,30,253)International students (per annum) £20,000(INR 20,46,431) |
19. | UT Dallas – Naveen Jindal School of Management | USA | Master of Science in Innovation and Entrepreneurship (MSIE) | 36 credit hour | Texas resident fee $13,442(INR 10,00,992)Non-resident fee $38,168(INR 28,42,275) |
20. | City University – Cass Business School | England, UK | EntrepreneurshipMSc | 12 months | £23,500(INR 24,08,472) |
21. | The University of Warwick | England, UK | MSc Innovation and Entrepreneurship (IAE) | 12 months | Overseas £27,160(INR 27,84,216)Home & EU £14,820(INR 15,18, 895) |
22. | Queen’s University – Smith School of a Business joint program with Queen’s Faculty of Engineering and Applied Science. | Ontario, Canada | Master of Management, Innovation & Entrepreneurship | 12 months | Domestic $33,550(INR 24,96,91)International $48,750(INR 36,28,194) |
23. | NYU – Tandon School of Engineering | USA | Biotechnology and Entrepreneurship, M.S. | 30 credits | The tuition fee varies depending on a number of units |
24. | Rotterdam School of ManagementErasmus University | Netherlands | MSc Strategic Entrepreneurship (MScSE) | 12 months(on-campus sessions + online) | Non-EEA fees €18,200 per year(INR 15,97,731) |
25. | National University of Singapore (NUS) | Singapore | MSc MSc Entrepreneurship | 12-18 months | $45,000 + GST(INR 33,49,102) |
26. | Vlerick Business School | Belgium | Masters in Innovation and Entrepreneurship | 10 months | €15,800(INR 13,87,382) |
27. | University of Waterloo – Conrad School of Entrepreneurship and Business | Ontario, Canada | Master of Business, Entrepreneurship and Technology (MBET) | Full-time – 1yearPart-time – 3 years | Citizens and PR $34,254 CAD(INR 20,29,337)International $55,359 CAD(INR 32,77,890) |
28.. | Singapore Management University (SMU) | Singapore | MSc in Innovation (MI) | Full-time – 12 monthsPart-time – 15 months | $46,010(INR 34,24,386) |
Top Colleges in India
Enlisted are the top colleges for masters in entrepreneurship and innovation courses in India:
- Indian Institute of Management, Ahmedabad
- Indian Institute of Management, Calcutta
- Indian Institute of Management, Bangalore
- Indian School of Business, Hyderabad
- S.P Jain Institute of Management & Research, Pune
- NMIMS, Mumbai
- University Business School Punjab University
- School of Management, Dr. DY Patil University. Navi Mumbai
- PSG Institute of Management
- PSG College of Technology
- Symbiosis Institute of Business Management, Pune
- MIT School of Management, Pune
- Amity Business School, Noida
- GD Goenka School of Management, Gurgaon
- SAGE University, Indore
- NSUT, Delhi
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Masters in Entrepreneurship and Innovation Online/Part-Time
University | Country | Program | Duration | Fees |
Texas, McCombs | USA | MSc in Technology Commercialization | 1 year, Part-time or Online | 55,500 USD(INR 41,30,698) |
Indiana University – Kelly School of Business | USA | MS in Entrepreneurship & Innovation | 15 months – 3 years | 1,380 USD (INR 1,02,709) per credit hour (MS has 30 credit hours) |
Northeastern University | USA | MS in Innovation | Part-Time on campus or 100% Online | 1,640 USD (INR 1,22,060) per credit hour (MS has 30 credit hours) |
Temple University | USA | MSc in Innovation, Management & Entrepreneurship | 1 year full-time, 2-3 years part-time | 1,114 USD (INR 82,914) per credit hour (MS has 30 credit hours) |
Arizona | USA | Entrepreneurship (MS) | 12 months – Online | 18 units of core coursework and 12 units of electives – Tuition for 1 unit USD 1,000 (INR 74,429) |
Careers and Average Salary
Some graduates may decide to start their own venture immediately after graduation while others may wish to acquire some industry experience before taking the lounge. The average salary would depend greatly on a wide variety of factors, including location, industry, and type of role taken. The average US salary after Masters’s in Entrepreneurship & Innovation degree is 69,000 USD.
- At HEC, Paris – 75% of students launched their own start-up. The average starting salary was EUR 51,000.
- At Vlerick, the average salary was 64,768 USD three years after graduation.
MS vs MBA in Entrepreneurship
The debate would continue whether an MBA in Entrepreneurship is better or a master’s in Entrepreneurship and Innovation. An MBA offers more flexibility in this course and provides multiple career choices whereas a master’s in entrepreneurship and innovation has comparatively lower tuition fees and can be completed in less span of time. An MBA applicant must have significant work experience (3-5 years or higher) and can expect a much higher salary. Whereas for masters there is no work experience requirement and the salary package could be lesser than MBA graduates, but pursuing a master’s is right in its own way.
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Is your start-up waiting to see a big bloom? With these reputed universities and colleges offering Masters in Entrepreneurship and Innovation, you could nurture your business idea and transform it into a sustainable business. Take the assistance of the AI-enabled tool or sign up for a free 30-minute career counselling session with our experts at Leverage Edu and we’ll help you select the right university as per your personalized interests so you can take a firm step towards a rewarding career!