Entrepreneurship at BYU MBA: Ranked 3rd in Princeton Review & Win $145,000 in cash with Miller New Venture Challenge

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 Entrepreneurship, students must complete the Core Courses and three required Entrepreneurial courses:  Venture Capital/Private Equity Fundamentals, Entrepreneurial Marketing, and Creating and Managing New Ventures. One additional course must be completed from Managing Entrepreneurial Firms, Advanced VC/Private Equities Strategies, Entrepreneurial Strategy, Innovation and Entrepreneurship, Creative Strategic Thinking and Real Estate Analysis.

Major in Entrepreneurship: Students who are serious about starting or growing a new venture is advised to opt for the Major in Entrepreneurship. The Courses, Projects, Internships, Externships and Activities will be aligned towards starting a new venture or enabling intrapreneurship in a large organization. The required courses for Majors are Core Courses (similar to Minor), Innovation & Entrepreneurship (First Year – Not included for Minor in Entrepreneurship), Entrepreneurial Marketing, and Creating and Managing New Ventures. The Courses in both Major and Minor in Entrepreneurship are nearly similar, but with Major in Entrepreneurship, students will work closely with the Rollins Center of Entrepreneurship and Technology, right from the start of the program.

Rollins Center of Entrepreneurship and Technology

According to the 2012 Princeton Review Ranking for Entrepreneurship, BYU was ranked #3. The support offered by Rollins Center of Entrepreneurship and Technology was influential for the ranking.

Student Clubs: The Student Clubs maintain the focus on Entrepreneurship with Association for Information Systems (AIS), CocoaHeads Club, Collegiate Entrepreneurs' Organization (CEO), Innovation Academy, MBA Tech Society, Student Intellectual Property Law Association, Venture Factory, Web Startup Group, Women in Business and Women in Management.

For example, The Venture Factory provides the resources and guidance for launching a Business. The organization also hosts the Student Innovator of the Year Competition, where students get the chance to present their idea, and get funding and support for their products and services.

Learn more about Student Clubs in Rollins Center of Entrepreneurship and Technology

BYU Entrepreneurship Competition and Networking Opportunities

The Miller New Venture Challenge is a big crowd puller in BYU start up world, with $145,000 in cash offered for this year’s winner. The winner would not just be confined to a cash prize. They would also get continued support through various phases of the start-up stage.

BYU Mobile App Competition: For mobile app developers, Rollins Center for Entrepreneurship and Technology will host the annual Mobile App Competition. Training material is available for interested students that include programming lessons for iOS/Android apps, and downloadable video screencasts, presentations and codes from previous training sessions.

The BYU Entrepreneurship Week:  The 5 Day Event is scheduled for October First Week and is hosted by Rollins Center for Entrepreneurship & Technology. Students get to learn from Entrepreneurs, who had success through BYU Entrepreneurial community. The events will also offer networking opportunities with Investors & Entrepreneurial professionals. Panel discussions on Entrepreneurial experiences and challenges will also be part of the event. The Entrepreneurship Week concludes with the Miller New Venture Challenge. Last year, the Entrepreneurship Week, attracted over 5,000 participants and more than 500 students participated in the New Venture Challenge.

BYU CEO (The Collegiate Entrepreneurs Organization) provides the platform to network with professionals, faculty members and peers in the BYU Entrepreneurial community.  BYU CEO Organizes networking events and workshops, that offer mentoring and feedback opportunities for start-ups. The resources and networks are invaluable for start-ups, and often lead to new Business Ideas and partnerships.

Utah Startup Marketplace: This is another networking opportunity for Entrepreneurial MBA Students. They get the chance to offer their expertise to some of the best startups in Utah, opening up Internship and Full-time Employment opportunities.

Students in Rollins Center of Entrepreneurship and Technology also get the chance to take part in two competitions: The Business Model Competition and Dolphin Capital Marketing Competition

The Business Model Competition: embarks on the lean startup model, where the focus is taken away from Business Plan and Fund raising to testing the assumptions in the Business Model through better understanding of customer needs.

Dolphin Capital Marketing Competition: Each year, students from various parts of Utah participate in the statewide Marketing Competition with the Winner getting $8,500 in cash prizes. Students have to develop the case according to the real-world problem. This year’s case is about developing and launching a marketing plan for Kencraft’s new division of custom lollipops.

Related Resources

1) Rollins Center at BYU’s Videos (Vimeo)
2) Rollins Center for Entrepreneurship and Technology