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7 reasons why Masters in Entrepreneurship should be your NUMBER ONE choice for a soaring career

What is Masters in Entrepreneurship?

Are you a problem solver, a curious, team-oriented and ambitious student interested in introducing your own business? Or do you want to take your family business ahead or work with large organisations? Then you’ve come to the right place. A person who owns a new company, business, or idea and turns it into a profit-generating business is known as an entrepreneur.

Entrepreneurship can be described as a business-related field in which leaders are not afraid to take chances and create unique solutions to improve their company’s performance and maximise profits. Entrepreneurship focuses on exploiting business opportunities, developing and controlling business plans, establishing start-ups, management, team-building, market strategies, human resource management, leadership, innovation, intellectual property, the economy, networking, and market research, among other aspects.

The road to evolving into a successful entrepreneur is long and difficult. Just having a bachelor’s degree will not be enough.  A Masters in Entrepreneurship combines theoretical and practical knowledge. In this modern and dynamic industry, knowledge of today’s corporate environment, the ability to manage people, and the capacity to sell are all essential. Therefore, a Masters in entrepreneurship from an internationally renowned university or school is a good option for those looking for a quick and cost-effective way to gain relevant knowledge and familiarise themselves with concepts, tools, and skills needed to be an entrepreneur.

Masters in Entrepreneurship programs

To know the best master’s in entrepreneurship degrees and the schools, refer to the chart below. The following table also contains online/part-time Masters in Entrepreneurship programs.

S No. Name of the university/college Country Program name Duration
1. Babson College USA Master of Science in Management in Entrepreneurial Leadership Nine months
2. Texas McCombs USA M.S. in Technology Commercialization (MSTC)

One year

Part-time (online or on-campus)

3. ESADE Barcelona, Spain MSc in Innovation and Entrepreneurship One year
4. Lancaster University Management School England, UK MSc Entrepreneurship and Innovation One year
5. HEC Paris & Ecole Polytechnique Paris MSc X-HEC Entrepreneurs 10 months
6. Indiana University – Kelley School of Business USA MS in Entrepreneurship & Innovation 15 months –  3 years
7. Northeastern University – D’Amore-McKim School of Business USA MS in Innovation Part-time on-campus or 100% online
8. The London School of Economics and Political Science London, UK MSc Social Innovation and Entrepreneurship One year
9. Cranfield School of Management London, UK Management and Entrepreneurship MSc One year
10. USC Marshall School of Business USA Master of Science in Entrepreneurship and Innovation (MSEI) One year
11. Temple University – Fox School of Business USA M.Sc. in Innovation Management and Entrepreneurship

One year full-time, 2-3 years part-time

Online, offline or through a hybrid model

12. EDHEC Business School France MSc in Entrepreneurship & Innovation One year
13. University of Cambridge – Judge Business School Cambridge, UK Master of Studies in Entrepreneurship Two years
14. Rotterdam School of Management
Erasmus University
Netherlands MSc Strategic Entrepreneurship One year
15. Queen’s University – Smith School of Business Ontario, Canada Master of Management
Innovation & Entrepreneurship
1 year
16. Vlerick Business School Belgium Masters in Innovation and Entrepreneurship Ten months

Seven reasons to study Masters in Entrepreneurship

Let’s find out the reasons as to why you should study Masters in Entrepreneurship:

1. Elective courses

The format of the course will differ depending on the school and the specialisation they provide. For example, marketing management, operations management, strategic management, finance for entrepreneurs, and principles of entrepreneurship are just a few of the topics covered in core courses for entrepreneurs. In addition, many schools include students in real-life scenarios, allowing them to develop entrepreneurial skills in the process.

Internships are also available through schools. In the United Kingdom, most MSc programmes include a thesis project or research dissertation. Electives are available to students based on their interests and aspirations. The number of electives available varies between schools. Some common elective courses available include the following:

  • New venture creation
  • Venture growth strategies
  • Project management
  • Managing growth
  • Family business
  • M&A for entrepreneurs
  • New product development
  • Franchising
  • Social entrepreneurship
  • Entrepreneurial mindset

2. Short duration courses

Short duration courses

The duration of the courses of Masters in Entrepreneurship is shorter than the other courses. It is generally for 12 – 24 months, depending on the school. The course is usually divided into 3 to 4 semesters. The 1st-semester duration is from September to December, 2nd semester from January to March and the 3rd semester from April to June. Students are required to prepare a dissertation project under the supervision of a faculty member at most schools. This project assists aspiring entrepreneurs in working on their start-ups or conducting feasibility and profitability studies on business opportunities. Furthermore, some universities allow you to enrol in the course as a part-time student and attend official lectures on campus for two or three days each week. There are some requirements for a Master’s in Entrepreneurship degree. They are:

  • Undergraduate degree or an equivalent
  • Work experience (in some schools)
  • Statement of Purpose / Essays
  • Letters of recommendation
  • Resume
  • Academic transcripts – undergraduate and graduate
  • GMAT or GRE score (may or may not be required)
  • English language requirement
  • Interview

3. Opportunity to connect globally

Opportunity to connect globally

Masters in Entrepreneurship gives the students the opportunity to connect with people from companies globally. One of the most important goals of the Masters in Entrepreneurship is to connect students with individuals who are either beginning or operating successful enterprises. Seminars are held as part of many degree programmes, and students have access to famous people in their fields. This helps the students to learn from experts in different areas.

Furthermore, many masters programs project-based, interactive aspect allows students to engage with one another and form long-term professional ties with their classmates. Working in a team brings in new ideas from each member of the team. It helps each student grow and learn from the other. Students have a unique background and point of view. Knowing all sorts of ideas allows them to enhance and improve their thoughts. In fact, many students go into business with people they met through the programmes after graduation.

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4. Practical experience

Practical experience

Another benefit of pursuing Masters in Entrepreneurship is the possibility to gain practical experience. These opportunities frequently go parallel with courses and require students to collaborate on projects with their peers. This will teach students how to develop sound business plans, find new ventures, identify and assess business opportunities, and practise their entrepreneur skills in a variety of situations and contexts. In addition, it also allows them to improve their leadership skills in a safe environment. These lectures will teach students how to avoid many of the most common mistakes that new entrepreneurs make when beginning and running their businesses.

Practical experience is very important in the field of entrepreneurship. It is usually observed that practical knowledge is bigger and more impactful than theoretical knowledge in today’s time. A student does not fully retain and learn unless and until they experience it. Masters in entrepreneurship provides a number of opportunities to students to master themselves in practical fields.

5. Become a leader

Become a leader

Entrepreneurs are not born; they learn to be one. During the Masters in Entrepreneurship program, the students learn how to become independent in taking big decisions for any organisation. They become a leader by practising every skill in real-life scenarios. Graduates of Masters in Entrepreneurship are prepared to handle assets, generate funds, and start and run their own organisations and businesses, including limited liability corporations, corporations, and nonprofits. Students will attend program-sponsored conferences and seminars to network with investors. They will complete a unique mixture of entrepreneurship-related courses, which may include hands-on experience discussing business ideas with their peers. Graduates will be equipped to lead enterprises through all stages of business formation in a collaborative, intimate, and secure environment.

 6. Brings out your creative side

Entrepreneurship is not about following what has been followed for years in the industry. It is about creation and innovation. Students learn how and what things work in today’s time. Entrepreneurs are curious people who create new things out of nowhere and launch that new thing in the market. But, by opting Masters in Entrepreneurship, you will learn how to polish your creation and be creative. You also get the opinion of your experienced faculty and, at times, experts from this field. It’s important to get other people’s opinions, take a vacation, and give yourself time to ponder. You’ll need to take a break from your daily routine to come up with good ideas.

Obtaining a Masters in Entrepreneurship helps you to make use of this time to think about solutions. Earning an advanced degree in this area, meanwhile, provides a secure atmosphere in which you may try your ideas–and fail with less severe consequences. This will help you polish your decision-making skills and gain confidence. This program is the very best for creative people as it gives you the platform to execute your innovation and improve all the points that need improvement. As a result, when you will step into the real world, your chances of going downhill will be less.

7. Varied job opportunities

Varied job opportunities

Many people believe that becoming an entrepreneur solely means starting a business. This isn’t completely true. In reality, entrepreneurship is most common in well-established businesses in developed nations. In general, entrepreneurship is defined as the ability to successfully design and bring to market appealing products and services that solve complex issues in a highly uncertain environment. Although all masters programmes allow students to take a variety of practical business courses to help them prepare for the future, a Masters in Entrepreneurship allows students to take a variety of courses in a specific interest area.

The requirements for masters with an entrepreneurial specialisation vary by school and programme, but most provide courses in global strategies, mergers and acquisitions, entrepreneur strategies, venture capital, and private equity. Students will acquire a variety of important business skills, such as how to deal with the uncertainties of the business world, how to develop organisational strategies for businesses, and how to invest. This further opens many paths for students to work after completing their master’s degree. You can have many different jobs after Masters in Entrepreneurship. From starting your own venture to working with a big organisation. You can become a business development director, marketing director, senior product manager. Companies like Amazon, IBM, General Electric hire postgraduates.  The average pay is determined by a number of factors, including region, industry, and the type of employment. According to PayScale, the average salary after earning a Masters in Entrepreneurship degree in the United States is $69,000. At HEC Paris, 75% of students create their own business. The average first-year pay was €51,000 on average. Three years after graduation, the average salary at Vlerick was $64,768.

Conclusion

Thus, if you are planning to pursue Masters in Entrepreneurship, then it’s the right time to go ahead with your decision. This course will make you think out of your comfort zone, which will help you grow. Moreover, who does not like to do what they want to? This program not only gives several opportunities to work in different fields but also to do that job creatively. Therefore, you can unleash your inner creativity and innovation skills while pursuing Masters in Entrepreneurship degree. Furthermore, it serves as a platform for you to try out your ideas and know what will succeed in your life. Furthermore, it is not even a long course, and you get to improve and implement your thoughts in the real world in a short duration of time.

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