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Masters (MS) in Entrepreneurship & Innovation
Overview
Master of Science (MS) in Entrepreneurship and Innovation is a postgraduate program that teaches students the skills and knowledge they need to develop and launch new businesses and innovate within existing organizations. This program applies to students who are passionate about entrepreneurship and innovation and want to learn from the best minds in the field.
Why Study a Master's (MS) in Entrepreneurship and Innovation Abroad?
There are many reasons to study MS in Entrepreneurship and Innovation abroad. Some of the key benefits include:
- Access to world-class education: Many of the top universities in the world offer MS in Entrepreneurship and Innovation programs. Studying abroad gives you access to the latest research and teaching in the field and learning from leading experts in the field.
- International exposure: Studying abroad allows you to network with students and professionals worldwide. This exposure will enable you to develop a global perspective on entrepreneurship and innovation, which can be invaluable in today’s interconnected business world.
- Improved career prospects: Employers respect an MS in Entrepreneurship and Innovation degree from a top foreign university. This degree can open up many doors for you in the business world, whether you want to start your own company or work for a leading innovation-driven company.
Course Structure
The course structure of an MS in Entrepreneurship and Innovation program can vary depending on the university. However, most programs typically cover the following topics:
- Entrepreneurial thinking: This course will teach you the fundamentals of entrepreneurial thinking, including how to identify potential business opportunities, & develop new products and services.
- Innovation management: This course will teach you how to manage innovation within organizations, including how to generate and evaluate new ideas, & develop and implement new products or services.
- Business planning: This course will teach you how to develop a business plan, including how to define your business goals, identify your target market, develop a marketing strategy, and project your financial performance.
- New venture financing: This course will teach you how to finance your new business venture, including how to raise capital from investors and banks.
- Entrepreneurship in specific industries: Some programs may also offer courses on entrepreneurship in specific industries, such as technology, healthcare, and social impact.
Course Subjects
Some of the common course subjects offered in MS in Entrepreneurship and Innovation programs include:
- Entrepreneurial Marketing
- Innovation and Design Thinking
- New Venture Creation
- Business Model Innovation
- Entrepreneurial Finance
- Technology Entrepreneurship
- Social Entrepreneurship
- Sustainable Entrepreneurship
Top Specializations
- Technology Entrepreneurship
- Social Entrepreneurship
- Sustainable Entrepreneurship
- Healthcare Entrepreneurship
- Financial Technology (Fintech) Entrepreneurship
- Education Entrepreneurship
- Food and Agriculture Entrepreneurship
Course Duration
The duration of a Master’s in Entrepreneurship and Innovation (MS or MSc) program abroad can vary depending on the country, university, and specific program structure. In general, Master’s in Entrepreneurship and Innovation programs often take one to two years to complete when pursued on a full-time basis.
Admission Process
The admission process for MS in Entrepreneurship and Innovation programs can vary depending on the university. However, most programs typically require the following:
- Bachelor’s degree in a related subject: You should possess a bachelor’s degree certificate in a related field, such as business, economics, or engineering.
- GMAT or GRE scores: You must submit GMAT or GRE scores. The minimum GMAT/GRE score requirements vary depending on the university.
- English language proficiency test scores: If you are not a native English speaker, you must submit English language exam proficiency scores, such as the IELTS or TOEFL exam scores. The minimum English proficiency score requirements vary depending on the university.
- Statement of purpose (SOP): You must submit a statement of purpose (SOP) explaining why you are interested in the program and what you hope to achieve by studying MS in Entrepreneurship and Innovation.
- Letters of recommendation (LORs): You must submit two or three Letters of recommendation (LORs) from academic or professional references.
- Copy of Passport: A Passport copy is required for the admission purposes.
Document Requirements
Admission to MS in Entrepreneurship and Innovation programs requires the following documents:
- Official transcripts from all previous academic institutions
- GMAT or GRE scores
- English language proficiency test scores
- Statement of purpose
- Letters of recommendation
- Passport
- Visa (if required)
English Language Proficiency Exams Score Requirements
The following are the typical English language proficiency exam score requirements for MS in Entrepreneurship and Innovation programs:
- IELTS Exam: Overall band score of 6.5, with no individual band below 6.0 score.
- TOEFL iBT Exam: Overall band score of 90, with no individual section score below 22
- PTE Academic: Overall score of 65, with no communication skill score below 54
- Duolingo English Test: Overall score of 110
Cost of Studying
The US’s average tuition fee for MS in Entrepreneurship and Innovation programs is around $40,000 annually. However, the cost can vary depending on the university and the program. For example, tuition fees at top universities like Stanford and MIT can be upwards of $60,000 per year.
Cost of Living and Other Expenses
The cost of living in the US can vary depending on the city or town where you live. However, you have to pay around $1,500 to $2,000 per month on the cost of living, including accommodation, food, transportation, and other expenses.
Top Scholarships
There are a number of scholarships available for students studying MS in Entrepreneurship and Innovation. Some of the top scholarships include:
- Fulbright Scholarship: This scholarship is available to students from around the world to study in the US. The scholarship manages tuition fees, living expenses, and travel costs.
- Chevening Scholarship: This scholarship is available to students from the UK and the Commonwealth to study in the UK. The scholarship manages tuition fees, living expenses, and travel costs.
- Erasmus Mundus Scholarship: This scholarship is available to students from Europe and other countries to study in Europe. The scholarship manages tuition fees, living expenses, and travel costs.
Popular Jobs
Graduates of MS in Entrepreneurship and Innovation programs can find employment in various industries. Some of the most popular jobs include:
- Entrepreneur: Many graduates start their own businesses.
- Consultant: Graduates can work as consultants for businesses and organizations, helping them to develop and implement new products and services.
- Product Manager: Graduates can work as product managers for technology companies, developing and launching new products.
- Investment Banker: Graduates can work as investment bankers for banks and financial institutions, helping businesses to raise capital.
- Venture Capitalist: Graduates can work as venture capitalists for venture capital firms, investing in early-stage businesses.
Average Annual Salaries
The average annual salary for graduates of MS in Entrepreneurship and Innovation programs varies depending on the industry and the job. However, graduates can expect to earn an average annual salary of around $70,000 to $80,000.
FAQs
Q1) What are the prerequisites for MS in Entrepreneurship and Innovation programs?
A1) The prerequisites for MS in Entrepreneurship and Innovation programs vary depending on the university. However, most programs require a bachelor’s degree certificate in a related field, such as business, economics, or engineering. Some programs may also require students to have some work experience in the field of entrepreneurship.
Q2) What is the job market like for graduates of MS in Entrepreneurship and Innovation programs?
A2) The job market for graduates of MS in Entrepreneurship and Innovation programs is very good. There is a high demand for qualified entrepreneurs and innovation professionals. Graduates can find employment in various industries, including technology, healthcare, and finance.
Q3) What is the average salary per year for MS in Entrepreneurship and Innovation programs graduates?
A3) The average salary for graduates of MS in Entrepreneurship and Innovation programs varies depending on the industry and the job. However, graduates can expect to earn an average annual salary of around $70,000 to $80,000.
