The postgraduate program in Entrepreneurship and Innovation equips individuals to approach their careers with greater creativity and flexibility. By honing qualities such as passion and motivation, this course empowers businesses to flourish. It provides comprehensive insights into various business domains and cultivates an entrepreneurial mindset crucial for building thriving enterprises.
In this article, we will delve into the significance of pursuing a master’s in entrepreneurship in the UK, explore its curriculum, highlight esteemed universities offering this two-year advanced course, delve into career opportunities, and more.
|Course Name||Masters in Entrepreneurship and Innovation|
|Duration||1 or 2-year courses available|
|Fees||Around 20,000 to 30,000 GBP|
|Job Profile||Business manager, Business or financial consultant, Research developer, Management analyst, Franchise owner, project manager, etc|
|Salary||£5,500 per annum|
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Why Pursue Masters in Entrepreneurship and Innovation?
This comprehensive two-year program delves into practical business knowledge and strategies, elevating your decision-making, problem-solving, critical thinking, and interpersonal skills. It’s a chance to apply your learning to real-world challenges.
A respected university’s MS in Entrepreneurship and Innovation course could be an excellent fit. Is a family business or private venture part of your picture? This master’s is tailor-made for scaling up family enterprises or embarking on new ventures. Ready to explore further?
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Top Universities Offering Masters in Entrepreneurship and Innovation in the UK
|No.||University Name||Location||Course Name||Fees|
|1.||Lancaster University Management School||England, UK||MSc Entrepreneurship and Innovation||UK / EU £13,000
|3.||The London School of Economics and Political Science||London, UK||MSc Social Innovation and Entrepreneurship||UK/EU: £30,684
|4.||Imperial College Business School||London, UK||MSc Innovation, Entrepreneurship & Management||Fees: £29,500|
|5.||Cranfield School of Management||England, UK||Management and Entrepreneurship MSc||EU fees £12,000Overseas fees £20,500|
|6.||University of Bath School of Management||England, UK||MSc in Entrepreneurship and Management||Home/EU: £14,000Overseas: £20,000|
|7.||The University of Manchester||England, UK||MSc Innovation Management and Entrepreneurship||UK/EU students (per annum) £13,000International students (per annum) £20,000|
|8.||City University – Cass Business School||England, UK||Entrepreneurship MSc||£23,500|
|9.||The University of Warwick||England, UK||MSc Innovation and Entrepreneurship (IAE)||Overseas £27,160Home & EU £14,820(|
- Completion of a 3 to 4-year bachelor’s degree in a relevant field is essential.
- GMAT/GRE scores are typically needed by many universities.
- Proficiency in English through IELTS, TOEFL, or PTE exams is a requirement. Some universities may also conduct personal interviews.
- While some UK universities request 2 years of work experience, it’s not universally mandatory.
You must keep the essential documents ready before starting your application for pursuing higher studies from the universities in the UK. Following are the general documents required for Masters in the UK:-
- Copy of a valid passport
- Scorecard of English proficiency tests like TOEFL/IELTS
- GMAT/GRE for Masters programs
- Academic Transcripts in English only
- Letter of Recommendation (LOR)
- Portfolio (for specific courses)
- Statement of Purpose (SOP)
Cost Of Living in UK
|Kind Of Expense||Cost in GBP and INR|
|Fees For Visa Application||348 GBP (INR 35,834)|
|Housing||500 GBP (INR 51,486) monthly|
|Transportation||150-200 GBP (INR 15,445 to INR 19,844) monthly|
|Food||150-200 GBP (INR 14,883 to INR 20,594) monthly|
|Clothing And Leisure||50 GBP (INR 5,148) monthly|
|Telephone and Mobile||50 GBP (INR 5,148) monthly|
Careers and Average Salary
Graduates have two main choices: starting a venture right after graduation or gaining industry experience first. Thus, the students become competent to work in the following areas:
- Applying knowledge to own business concepts to build a new company
- Taking responsibility for larger organizations, like scale-ups or family enterprises, in the development of products or markets
- Consulting jobs
|Job Profile||Average Salary|
|Business Analyst||€60,886 /yr|
|Sales Manager||€74,400 /yr|
|Business Consultant||€55,000 /yr|
However, the average salary depends on factors like location, industry, and role. The average US salary after a Master’s in Entrepreneurship & Innovation is $69,000. Renowned institutions like HEC Paris quote that 75% of students start their start-ups, with an average starting salary of EUR 51,000. And Vlerick Business School mentions that the average salary is $64,768 three years after graduation.
Ans. A Master’s in Innovation and Entrepreneurship is an advanced academic program that focuses on developing skills and knowledge related to creating and managing innovative businesses and projects. It covers areas such as identifying market opportunities, developing business plans, fostering creativity, understanding market trends, and acquiring the tools needed to navigate the challenges of starting and growing successful ventures. The program typically includes coursework, practical projects, and networking opportunities to prepare students for careers in entrepreneurship, innovation management, and related fields.
Ans. Choosing between an MBA and an MSc in Innovation and Entrepreneurship depends on your goals. An MBA offers broader business knowledge and leadership skills, while an MSc offers specialized expertise in innovation and startups. Consider career aspirations and desired skill focus when deciding between the two programs.
Ans. An individual must opt for an MSc in Innovation and Entrepreneurship if it aligns with their passion for innovative ventures. This program offers specialized skills crucial for startup success. It’s a direct path to honing creativity, market insight, and entrepreneurial acumen, empowering me to excel in the dynamic world of business innovation.
Is your startup poised for significant growth? With renowned institutions providing Entrepreneurship and Innovation Master’s programs, you can cultivate your business concept into a viable enterprise. Utilize our AI tools or join a complimentary 30-minute career advisory session with Leverage Edu experts to choose the ideal university that suits your unique preferences, enabling you to confidently embark on a fulfilling professional journey!