Masters in Entrepreneurship

Masters in Entrepreneurship

An Overview of the Degree

Masters in Entrepreneurship is specifically designed for graduates who intend to set up a highly impactful and innovative business. Additionally, this program gives you the opportunity to develop your entrepreneurial and managerial skills. It focusses on enhancing your innovative and proactive thinking by providing you with hands-on experience in the field.

Irrespective of your previous academic background, this program accommodates a range of learners who are interested in starting their own business or want to manage big companies with great leadership skills.

Due to the increasing popularity of this profession amongst students, Masters in Entrepreneurship program is becoming highly competitive to get through. However, a strong profile and the zeal to drive a business with confidence and determination is all that you need to get admitted to this course.

 Why should I apply to MSc in Entrepreneurship programs

For the students interested in enhancing their problem-solving skills and developing a single-minded approach towards start-up businesses, the Masters in Entrepreneurship is the right fit for you.

Also, this program is a good choice for all those graduates who wish to introduce new products in the market and even manage novel projects for established firms.

Many universities give students the chance to work on real business models with prospective customers, collectively interview the customers, and pitch new ideas. The courses are academically challenging, require research work and essays, and reading important texts. Throughout the program, the students get to connect with highly experienced mentors who share their wisdom and first-hand experiences which are really helpful for the budding CEOs and leaders.

Thus, this course can give you a great chance to learn by doing and build a network with highly influential people that serve well to kick start or manage a business.

Elective Courses

All the schools catering this program offer a wide variety of optional courses.

Some schools like the UCL School of Management allow students to pick one of the four specialization pathways which provide them with specific knowledge and skills pertaining to that domain. The four domains are Fintech Entrepreneurship, Health Care Entrepreneurship, Retail and Consumer Entrepreneurship, and Technology Entrepreneurship.

The following are few of the elective courses which a student studying M.Sc in Entrepreneurship can choose:-

Social Entrepreneurship
Family Business
New Business Development
Global Economy
Managing Entrepreneurial Operations
Topics in Business Law
Managing Entrepreneurial Organizations
Financial Strategy

Duration of Masters in Entrepreneurship programs

The duration of this course is normally between 12 to 24 months depending upon the School chosen.

The course is usually divided over 3 or 4 terms with a mandatory project and internship in most of the schools.

Term 1 - September to December

Term 2 - January to March

Term 3 - April to June

Business Applications / Dissertation - July to September

In most of the schools, the students are asked to prepare a dissertation project under the supervision of a faculty member. This project helps the budding entrepreneurs to work on their developing start-ups or conduct research on the feasibility and viability of a business opportunity.

Additionally, some colleges provide you with the opportunity to enroll in the course as a part-time student and attend the formal lectures at the campus for 2 or 3 days per week.

Admission requirement for Masters in Entrepreneurship programs

Masters in Entrepreneurship is a program that is open to graduates from all disciplines. However, a graduate is expected to have some knowledge about mathematical and statistical problems to get into a good school.

Those applicants who are not familiar with mathematics and computing can also get admission provided they take preparatory courses in Math and CS before they join the class. Most colleges like the Imperial College require you to complete a preparatory course in math and accounting 2 months prior to the commencement of the term.

Also, you are required to have obtained the first degree to an international standard of 2:1. Apart from being part of entrepreneurial activities, it is advantageous to have a maximum of 2 years of work experience.

MiM-Application

Admission Process

The most important factor for getting admission in this rigorous course is to have the interest in pursuing a career in business and entrepreneurship. The final selection is, however, based upon the comprehensive evaluation of your application, test scores, extracurriculars and work experience. Any experience in entrepreneurship and innovation is an added advantage.

General Constituents of the Application Package

  • English Proficiency Test - IELTS  or TOEFL-ibt
  • College Application at the web portal
  • Application fees of £50
  • 2 Academic References
  • GMAT Result (Depending upon College’s Requirement)
  • Undergraduate Academic Transcripts (GPA, Core, and Elective courses) from all previously attended post-secondary institutions
  • Resume or CV
  • Personal Statement

Which test scores are required?

The GMAT or GRE official test score is an essential element of your application. All top universities demand a high score on these standardized tests to evaluate your mental and intellectual abilities.

English Language Proficiency test scores are also required along with the application. Some universities accept IELTS while others require TOEFL( minimum score of 100) for international applicants.

 Class Profile

Here is a general class profile of Masters in Entrepreneurship and Innovation at ESADE Business School:-

Each Class Size - 63

Average Age - 24

Female Students - 35%

Male Students - 65%

Average Work Experience - 1 Year

Background of student - Management (68%), Sciences (11%), Economics (10%), Engineering (5%), Humanities (3%), Others (3%)

ORIGIN

North America - 5%

Europe-79%

Latam-3%

Middle East-2%

Asia-11%

Some of the top employers hiring graduates from Masters in Entrepreneurship are Barclays Bank, Citi, Bank of China, Moody's Cooperation, Flint Capital, Landmark Partners.

Job types: Business Consultant, Mid-level Management, Teacher, Sales, Research & Development, Finance, Audit, Banking, Business Reporter

Financial Service sector: Bank of Ireland, BNP Paribas, AXA, EY, Goldman Sachs, Accenture, Deloitte, Citi, HSBC.

Banking Sector: Barclays, Wells Fargo, Citi, Bank of America, and Chase.

Audit sector:  Ernst & Young (EY), Grant Thornton, KPMG, PWC, Deloitte Touche Tohmatsu Limited, and Baker Tilly.

Average Masters in Entrepreneurship Salary

The average starting salary of an Entrepreneur varies depending on what business you go into and how successful it is. However, the average reported salary for graduates with this major is $39,000 which increases up to $86,000 with experience of 5-8 years.

The employment rate is around more than 90% within first 3 months of graduation.

Schools that offer Masters in Entrepreneurship

Here is a list of Schools that offer this program:-

2016School NameCountryProgram Name
1UCL School of ManagementUKMSc in Entrepreneurship
2ESADE Business SchoolSpainMSc in Innovation & Entrepreneurship
3Imperial CollegeUKMSc in Innovation. Entrepreneurship and Management
4University of EdinburghScotlandMSc in Innovation & Entrepreneurship
5University of San FranciscoUSAMasters in Global Entrepreneurial Management
6The University of Manchester
EnglandMSc in Innovation. Entrepreneurship and Management
7University of DelawareUSAMSc in Entrepreneurship and Design
8 Babson College
USAMSc in Management in Entrepreneurial Leadership
9Spain Business SchoolSpainMasters in Entrepreneurship
10MIT SloanUSAMBA Entrepreneurship and Innovation
11Rotterdam School of ManagementNetherlandsMSc in Strategic Entrepreneurship
12Cornell UniversityUSAMBA Entrepreneurship
13 ESCP Europe Business School
FranceMSc in Innovation & Entrepreneurship
14Grenoble Ecole de ManagementFranceMS Entrepreneurs
15Columbia UniversityUSAMBA Entrepreneurship
16University of WarwickUKMSc in Innovation & Entrepreneurship
17HEC ParisFranceMS Entrepreneurs
18University of Texas at DallasUSAInnovation and Entrepreneurship
19National Taiwan UniversityJapanMBA Entrepreneurship and Innovation
20Antwerp Management SchoolBelgiumMasters in Entrepreneurship

If you need a detailed profile evaluation of your chances at Masters in Entrepreneurship program the MiM Profile Evaluation. It will give you a good assessment of your strengths, weaknesses and overall chances at Master in Entrepreneurship.