Entrepreneurship

While many MBA students seek a steady job immediately after graduation, there is a rare but growing breed of aspirants who are choosing the entrepreneurial route.

Entrepreneurship is not something that can be taught in a classroom; however, what most Entrepreneurial MBA students want is to learn how to start, run and grow a business. MBA programs with focus on Entrepreneurship provide a wealth of knowledge that will help students understand how different parts of a business work and come together. The basic knowledge they gather about finance, marketing, accounting, administration and sales can even help them do it all on their own, especially in the beginning when most startups are likely to be cash-strapped and cannot afford to employ many people.

According to a 2011 survey by the Association of Business Schools, entrepreneurship is one of the top 5 course content areas that students are now looking for. B-schools in turn are now offering excellent coverage of entrepreneurship in the form of course content, workshops, business plan competitions, conferences, and one to one counseling sessions.

Top 5 Entrepreneurial MBA Programs to consider...

According to The Organisation for Economic Co-operation and Development (OECD), Canada is ranked 3rd in the list of top Countries for Entrepreneurship just above United States. The government support, the entrepreneurial eco-system, and the societal perspective on Entrepreneurship have contributed to this ranking.

The latest program that the Canadian government has added to encourage Entrepreneurs is the ‘Startup Visa’ program. Policy makers in Canada have understood that Entrepreneurial immigrants are the foundation on which the US economy has thrived. To replicate this model, the Canadian government owned Bank – BDC is inviting applications from Immigrant Entrepreneurs for Financing and consulting services. Not all Businesses qualify for the visa program.

The selection process is rigorous, and BDC Venture Capital reviews over 1000 Business plans every year. Criteria for Businesses are:

1) It should have a distinct and sustainable competitive advantage

2) It’s intellectual property, and knowledge should provide a strong barrier to entry for competitors

3) It should have a suite of technology development in a broader set of markets.

4) It should...

When you consider the Top Entrepreneurial MBA Programs in Europe, IE Business School is consistently featured among them. The Entrepreneurial eco-system and curriculum have helped MBA students transform Business Ideas to new ventures, and raise capital for their initiative.

Curriculum

The IE International MBA program is divided into Pre-Program, Core Period, Change Module, and IMBA+ Period. Entrepreneurship is part of the Core Period with the Entrepreneurship Management Course. During the final IE IMBA+ Elective Period, Entrepreneurial students can select electives from over 80+ courses in English.

The Entrepreneurial Management focus involves courses and activities in Corporate Venturing, Entrepreneurship in Emerging Economies, Entrepreneurship and Venture Capital, Hands-on Rapid Innovation Accelerator, Knowledge Incubator and Venture Lab Accelerator. Students can also choose relevant courses from Operations Management, Accounting, HR, Marketing, and Strategy, to supplement Entrepreneurship.

Venture Lab

MBA Students get the chance to launch new Businesses with Venture Lab. The lab is developed by the International...

The Texas MBA Program consistently ranks among the top 20 MBA Programs in the world, with the Bloomberg BusinessWeek’s 2012 biennial ranking placing the program at No.19 for the Best Business schools in US. The program has a strong track record in employer satisfaction, Quality of the Class and Leadership Skills. Austin Texas McComb School of Business is also known for its expertise in research and intellectual capital development.

Although not surprising to Texas MBA Students, The University of Texas at Austin McCombs School of Business was ranked #5 in the Top 25 Graduate Entrepreneurial Colleges. The ranking was contributed by the role played by Herb Kelleher Center for Entrepreneurship in developing Entrepreneurial students.

For Full-time MBA Students, opportunity to learn about Entrepreneurship is offered as a concentration. During the first year, students will have to complete the core curriculum mainly covering topics in Finance, Operations, Strategy and Marketing. In addition to gaining fundamental knowledge about Management, the program also put emphasis on ethical leadership. The electives allow students to tailor their program according to post-MBA goals.

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Entrepreneurship as a career option is perceived as a risky proposition for most MBA Students. The pressure to conform to a limited set of career paths is high. This is one reason why Business Schools have concentrations and tracks in MBA Programs. In order to qualify for the concentrations, the students have to complete the Core Curriculum. This reduces the risks for Entrepreneurial MBA students. In case, the Entrepreneurial path does not work out, the knowledge acquired during the Core Curriculum can be utilized to move towards other functions like Sales, Marketing or Finance.

BYU MBA - Two Paths to Entrepreneurship

Minor in Entrepreneurship: BYU’s MBA program provides the option to choose Entrepreneurship as a Major or a Minor/Certificate program. In case, a student is not sure about the Entrepreneurial path during the first year, she can take one of the other specializations: International Business, Global Management Certificate, Social Innovation, Information Systems and Strategy. To supplement the specialization with skills in Entrepreneurship, the student can opt for a Minor in Entrepreneurship.  

According to 2012 schedule, to qualify for a Minor in...

Although Ross School of Business does not immediately come to our mind when we think of MBA programs with Entrepreneurial focus, it is ranked 2nd in the Top 25 Graduate Entrepreneurial Colleges for 2012 in Entrepreneur and Princeton Review annual rankings.

Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies – Ross School of Business

The ranking is based on the courses, programs and support offered at Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies. The courses are designed to support students with their Entrepreneurial endeavours. In addition to knowledge, Entrepreneurs and Academicians specializing in Entrepreneurial studies provide the necessary practical guidance to start a firm.  Some of the notable members in the Advisory Board are Michael Hallman, former COO, Microsoft Corporation, Eugene Applebaum, Founder of Arbor Drugs and Samuel Zell, Chairman of Equity Group Investments.

Research

Professor David J. Brophy, the Executive Director for Center for Venture Capital and Private Equity Finance, leads the Research for Entrepreneurial Studies.  Books and Case Studies are released...

The San Francisco Bay Area or Silicon Valley has been a driving force in global entrepreneurship, and Berkeley-Haas is among the leading players for the education and launch of successful Entrepreneurs. The MBA program offers an ecosystem that nurtures young enterprises while also preparing students for careers as Venture Capitalists. What's more, being in Silicon Valley gives MBA graduates the chance of joining a startup nearby.

Entrepreneurs from Haas include Matt Caspari and Guido Radaelli who won the Berkeley Business Plan Competition with Aurora BioFuels, a renewable energy company that utilizes microalgae to make biodiesel. They have recently received $20 million in funding. Another well-known Entrepreneur is John Hanke, who in 2001 founded Keyhole, which captures detailed satellite photographs of the entire planet. The company was acquired by Google in 2004, and Hanke is now VP Product Management at Google. In the social sector, Mimi Frusha started Renewable Funding, which allows homeowners in participating cities to finance clean energy projects. The projects are partly paid by the city through property taxes spread across 20 years. Over 5 cities in California have...

The MIT 100K Competition is among the world’s oldest competitions for entrepreneurs, and has now completed 22 years. In 1990, the MIT Entrepreneurs Club in collaboration with the Sloan New Ventures Association held the first competition that had 54 participating teams. The winner won $10K, with $3K and $2K for the 2 runners up. In 1996 it became the $50K, and in 2006 the competition evolved into the MIT $100K Entrepreneurship Competition.

Today, it is one of the worlds most anticipated competition. It is aimed at fostering the entrepreneurial spirit among MIT students and researchers, encouraging them to express their ideas, and providing the support required to bring them to fruition. The competition is a yearlong process that ropes in VCs, mentors and media, culminating in a giveaway of $350,000 in cash and prizes. The most prestigious of all is the $100k prize for the launch competition.

The Competition has nurtured the launch of 160+ companies that have registered aggregate exit values of over $2.5 billion captured with a market cap of more than $15 billion. They have generated 4,600+ jobs and gained around $1.3 billion in VC funds. Recent IPOs...

The Arthur Rock Center for Entrepreneurship has announced a one-time award of $10,000 to each of the 2013 graduating MBA student who is committed in starting an entrepreneurial venture. This is a need-based award and is aimed at for-profit startup ventures. The winner will be decided by the Rock Center. In addition to the award, the student will be eligible for regular MBA Financial Aid.

The award is based on the viability of the Business Idea. This will be evaluated based on a review of the business plan as well as a progress report based on funding and other key steps taken. Another criterion for evaluation is financial need. The award is not for students who are looking for employment or in volunteer positions.

The Arthur Rock Center for Entrepreneurship was started in 2003, on a $25 million gift from HBS alumni, Arthur Rock a legendary VC who invested in companies like Intel and Apple. The center runs the School’s Business Plan Contest, which gives away over $150,000 in cash, as well as, in-kind services to entrepreneurial winners. Also around $50,000 is given out each semester in the Rock Accelerator Award Program. It helps students develop their ideas in the quickest, most effective way.

Babson introduced entrepreneurship as a distinct discipline almost half a century ago. It is an intrinsic part of the Babson culture. As a result, among the class of 2012, 17% started their own business, while 7% went back to their family business. This is an extremely high rate of entrepreneurial commitment at a Business School, even beating Stanford's 16%. At Babson, Entrepreneurship is not just a distinctive discipline; it is integrated across the curriculum so that it forms a fundamental skill for all Babson graduates. Students can pick from 80+ entrepreneurship courses.

Entrepreneurial Thought and Action is the registered trademark that represents Babson's famed entrepreneurial philosophy. It involves an interdisciplinary approach to formulate sustainable, practical solutions from pertinent issues across the globe. Babson considers this philosophy as the primary solution to help create sustainable economic and social assets. Students develop an entrepreneurial mindset to help anyone, anywhere, at any level and transform ideas into reality - in a creative, analytical and ethical manner. Students are imbibed with the instincts of identifying problems to deliver opportunities.

Here is how Babson's Entrepreneurial Thought and...

Wharton is among the pioneers in entrepreneurial education, formulating the world’s first completely integrated curriculum for entrepreneurial studies all the way back in 1973. As a result, its trademark entrepreneurial support environment - Wharton Entrepreneurship is one of the top-rated Business schools for Entrepreneurs.

In 2011, 61 out of 853 MBA students (7.15%) did not seek employment as they were either self-employed, or starting their own business. Wharton ensures an entrepreneurial perspective across concentrations and disciplines. Graduates are therefore, imbibed with a flexible, adaptive management style that leads to career success, irrespective of whether the path chosen is entrepreneurial or not. As a result, other departments like Operations, Marketing, Information Management and Legal Studies also offer courses that dwell on entrepreneurship.

At Wharton, entrepreneurship is considered so important; it is one of 4 scholarship sub-fields under the ‘management’ discipline. Every MBA student must take MGMT 801, which is the basic entrepreneurial course where students complete a comprehensive business plan. The school offers an...

MIT Sloan’s offers arguably the world’s 2nd best entrepreneur ecosystem after Stanford’s GSB. And just as GSB benefits from the Stanford University’s environment, the Sloan gains from being next door to MIT.

MIT nurtures 200+ companies every year. Students, alumni and faculty have founded 25,000+ firms that employ 3.3 million people. They include HP, Intel and Bose. Recent ventures include A123 Systems, Dropbox and Zipcar. The impact of entrepreneurs from this environment is said to be almost $2 trillion a year in revenues. MIT fosters cross-school collaboration with a wide range of courses, a varied class profile and team projects, all supported by some of the best infrastructure and support systems in the world.


Martin Trust Center for MIT Entrepreneurship

The Martin Trust Center for MIT Entrepreneurship was founded in 1958 and is one of 12 entrepreneurship centers. It provides immense support for budding entrepreneurs. Besides research support by faculty, here are some of the center’s features.

Entrepreneurs in Residence

The...

In 2011, 16% of the graduating MBA class at Stanford reported that they were starting entrepreneurial ventures. This is a surprisingly large number for any Business School in the world. Not for Stanford though. According to the October 2012 report by two Stanford professors, since the 1930s, Stanford entrepreneurs have founded companies that generated revenues of $2.7 trillion annually while creating 5.4 million jobs. 55% of the entrepreneurs chose Stanford because of its entrepreneurial environment.

Google, Hewlett-Packard and Cisco Systems are among the 39,900 companies that originated from Stanford. If we combine them as a country, it will be the #10 economy in the world.  Some of the renowned non-profits originating from Stanford are Kiva, a microfinance organization, and The Special Olympics and Acumen Fund that assist entrepreneurs in developing economies.
 
While the above stats are for Stanford as a whole, MBA graduates have only benefitted from this environment...