Masters in Entrepreneurship and Innovation

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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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

Must Read: Top Entrepreneurs in India: Success Stories You Need to Hear

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

Also Read: Famous Women Entrepreneurs in India

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. 

Must Read: Foreign MBA vs Indian MBA

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!