MBA (Innovation and Entrepreneurship)

  • course years 2 Years
  • type of course Post Graduate
  • course stream Management
  • course type Full Time
Written By universitykart team | Last Updated date Oct, 13, 2023

About the Course MBA in Innovation and Entrepreneurship 

The MBA in Innovation & Entrepreneurship is a two-year postgraduate program that offers a unique approach to developing managerial and leadership abilities. This specialized MBA program is designed to equip individuals with the essential knowledge, expertise, and professional connections needed to thrive as innovators and entrepreneurs. To enroll in this academic program, candidates should possess a bachelor's degree in any field, with a preference for backgrounds in commerce, accounting, or statistics.

The MBA program specializing in Entrepreneurship and Innovation equips students with a comprehensive set of skills, analytical abilities, diverse perspectives, and hands-on experiences to ready them for various career paths, including becoming independent entrepreneurs, managing family businesses, or taking on entrepreneurial roles within established corporations. Whether a student's goal is to kickstart a business during their academic journey, join an emerging startup, or lay the foundation for future entrepreneurship, this program is designed to provide the necessary preparation for all these exciting possibilities. In today's competitive business landscape, there is a growing demand for individuals with entrepreneurial skills and a mindset that fosters innovation and growth.

What sets this program apart is its unique blend of theoretical knowledge and practical application. It empowers students to not only grasp entrepreneurial theories, models, and strategies in the classroom but also to put them into action. This is achieved through activities such as creating authentic business plans, engaging in field projects, and gaining valuable insights from leaders in the entrepreneurial business community.

This MBA program is designed to equip students with the skills needed to generate business concepts, transform these concepts into viable products or services, and formulate a strategic plan for bringing these ideas to the market. The program spans four semesters and offers flexibility through full-time, part-time, online, and distance learning options. To be eligible for this course, applicants should have a bachelor's degree in any field. Graduates of this program can expect to find employment opportunities in various sectors including automotive, marketing, agriculture, banking, construction, small and medium-sized enterprise management, information technology, insurance, and mining, with the assurance of securing fulfilling jobs.

Overview of the Course MBA in Innovation and Entrepreneurship 

The Master of Business Administration (MBA) with a focus on Innovation and Entrepreneurship offers an advanced and transformative postgraduate education for individuals who are highly motivated, passionate, and determined to accelerate their professional journey to new heights. The key points for the course are listed below:

ParticularsValue
Course Name MBA in Innovation and Entrepreneurship
Eligibility Criteria Bachelor's degree in any discipline
Duration Typically 2 years
Mode Full-time, Part-time, or Online
Admission Process Entrance exams , GD/PI
Average Annual Fees Varies by institution, typically INR 5-20 lakhs
Average Annual Salary INR 6-12 lakhs (varies by experience and skills)
Job Roles Innovation Manager, Startup Founder, Product Manager, Business Development Manager, Entrepreneurship Consultant, etc.
Top Recruiters Google, Amazon, Microsoft, Deloitte, McKinsey & Company, Flipkart, Reliance Industries, TATA Group, Startup Incubators, and Venture Capital firms

Why select an MBA in Innovation and Entrepreneurship?

An MBA in Entrepreneurship offers valuable training not only for aspiring entrepreneurs looking to launch their ventures but also for students involved in family businesses who want to enhance their skills. This program is specifically designed to nurture socially conscious leaders who can steer their businesses toward greater success. Here are some compelling reasons for considering an MBA in Entrepreneurship as a career choice:

  1. For individuals seeking to elevate the performance of their existing businesses and gain fresh insights into business dynamics, this course provides an ideal platform.

  2. The program imparts essential entrepreneurial competencies to students, including self-assurance, goal setting, resource acquisition, and strategic risk-taking.

  3. Throughout their studies, students develop critical problem-solving, conceptual thinking, and decision-making abilities.

  4. This course fosters the development of leadership qualities through a variety of activities both within and outside the classroom. Additionally, students gain practical experience and hands-on training through industry collaborations, which enhances their understanding of real-world business operations.

Admission Process for MBA in Innovation & Entrepreneurship

Admission to the MBA program in Innovation Entrepreneurship follows a structured process that involves evaluating students based on their entrance exam scores and merit. Direct admissions are not available for this course. Here is a breakdown of the MBA in Entrepreneurship admission process:

Step 1: Prospective students need to meet the minimum cut-off scores set by colleges for the accepted entrance exams.

Step 2: Candidates must complete the college's registration process, which can be done online or by visiting the campus in person.

Step 3: Once the entrance exams are conducted and results are announced, universities and institutions will release their respective cut-off scores to initiate the admission process.

Step 4: Shortlisted candidates are invited to participate in Group Discussions (GD) and interviews, which typically carry a significant weightage of 30-50% in the overall selection process.

Step 5: After the selection process, students who are offered admission are required to submit the necessary documents and make the payment for the MBA in Entrepreneurship program fees.

Eligibility Criteria for the Course MBA in Executive Innovation and Entrepreneurship 

The eligibility criteria for an MBA in Innovation & Entrepreneurship closely mirrors that of general MBA programs. Entrepreneurship is a specialization offered typically in the final year of the MBA course, giving candidates the flexibility to choose their field of interest. Here's an overview of the eligibility criteria for MBA in Innovation & Entrepreneurship:

(1). Bachelor's degree in any discipline from a recognized university.
(2). Some colleges might have a minimum percentage or CGPA requirements for bachelor's degrees.
(3). Work experience might be preferred or required, typically ranging from 1 to 5 years.
(4). Some universities may consider scores from entrance exams like CAT, XAT, GMAT, or their entrance tests.
(5). Each university might have specific requirements, so it's important to check the eligibility criteria of the university you're interested in.

Accepted Entrance Exam for the Course MBA in Innovation and Entrepreneurship 

For an MBA in Innovation and Entrepreneurship, entrance exams are conducted at the state level and national levels. Following are the entrance exams conducted at the national and university level:

CAT XAT
GMAT MAT
SNAP -

Skills Required for the Course MBA in Innovation and Entrepreneurship 

Here are the skills typically required for the MBA in Innovation and Entrepreneurship:

Self-starter Pro-activeness
Analytical skills Managerial Skills
Leadership qualities Strategic mindset
Innovative and enterprising Communication skills
Knowledge of business and market Observation skills
Ability to take risk -

Selection Process for the Course MBA in Innovation and Entrepreneurship 

After the written examination, special group meetings and personal interview rounds are held to prepare the nominees' final merit list. Once all the assessments have been carried out, the colleges or universities shall announce the results and issue a merit list of finally chosen applicants based on a written examination, a group discussion, and a personal interview. Following the admission process, the final allocation of seats is.

Course Comparison

Here are the highlights of the Course MBA in Innovation and Entrepreneurship compared with the course Certificate in Business Analytics:

Name of the Course MBA in Innovation and Entrepreneurship Certificate in Business Analytics
Overview of the Course

An MBA in Executive Innovation and Entrepreneurship is a specialized program that focuses on developing skills in innovation, entrepreneurship, and leadership. It's designed for professionals who want to enhance their business acumen and learn about cutting-edge innovation strategies.
Certificate in Business analytics is a talent that is becoming more and more in demand. It is the act of gathering, analyzing, and interpreting data to enhance corporate performance. Decisions concerning product development, marketing strategies, and customer service are made by businesses of all sizes using business analytics.
Level Postgraduate (Masters) Certificate/Diploma
Duration 2 years Typically 6 months to 1 year
Eligibility Criteria Bachelor's degree in any discipline; Work experience may be required Bachelor's degree in any field or equivalent work experience
Admission Process Entrance exams (like CAT, XAT, GMAT); Group discussion and interview; Application process through the respective university Application and possibly an interview
Average Annual Fees Varies widely, around INR 5,00,000 to INR 15,00,000 30,000 – 3,00,000
Average Annual Salary Initial salaries vary but can range from INR 6,00,000 to INR 15,00,000 or more, depending on the industry and role 2,00,000 – 10,00,000
Job Roles Entrepreneur, Innovation Manager, Business Development Executive, Consultant, Startup Founder, Product Manager Data Analyst, Business Analyst, Marketing Analyst, Financial Analyst, etc.
Employment Areas Startups, Corporate Innovation Departments, Consulting Firms, Product Development Firms Leading companies in the data-driven industry such as Google, Amazon, Microsoft, IBM, Deloitte, Accenture, etc.

Top Colleges and Fees Structure for the Course MBA in Innovation and Entrepreneurship

The majority of the Universities provide the course MBA in Innovation and Entrepreneurship, A few colleges are listed below along with their average annual fees:

Institute Approximate Fees (INR)
IIM Calcutta 24-28 lakhs
ISB Hyderabad 30-35 lakhs
SPJIMR 18-20 lakhs
XLRI 18-20 lakhs
SIBM Pune 12-15 lakhs
IIT Bombay 9-12 lakhs
Great Lakes 10-12 lakhs
TISS 2-4 lakhs
Welingkar Institute 6-8 lakhs

Job Profiles for the Course MBA in Innovation and Entrepreneurship 

MBA specialization in Innovation and entrepreneurship is tailored for professionals seeking to excel in entrepreneurial ventures or innovation-driven roles within organizations. Graduates of this program possess the skills and mindset to identify opportunities, innovate, and drive growth. In this comprehensive guide, we'll explore the promising career opportunities available to those with an MBA in Innovation & Entrepreneurship

Job Roles Description
Entrepreneur Initiates and manages new business ventures, taking risks for growth.
Innovation Manager Leads innovation strategies and projects within established companies.
Business Development Executive Identifies growth opportunities, builds partnerships, and expands the business.
Consultant Advises organizations on innovation strategies, helping them thrive.
Startup Founder Establishes and runs new startup companies, overseeing all aspects.
Product Manager Manages the development and lifecycle of products within a company.

Top Recruiters for the Course MBA in Innovation and Entrepreneurship 

Below is the list of some of the top recruiters for individuals with an MBA in Innovation and Entrepreneurship. These companies often value the skills in innovation, entrepreneurship, and business leadership that individuals with an MBA in Executive Innovation and Entrepreneurship possess.

Flipkart Deloitte
Accenture Infosys
Wipro Cognizant

Salary for the Course MBA in Innovation and Entrepreneurship 

Some of the common job roles along with their average annual salaries for individuals with an MBA in Innovation and Entrepreneurship are given below:

Job Roles Average Annual Salary (INR)
Chief Innovation Officer 15,00,000 - 30,00,000
Business Innovation Analyst 5,00,000 - 10,00,000
Startup Operations Manager 8,00,000 - 15,00,000
Venture Capital Analyst 7,00,000 - 12,00,000
Incubation Program Manager 6,00,000 - 12,00,000
Innovation Consultant 7,00,000 - 14,00,000

Scope for the Course MBA in Innovation and Entrepreneurship 

The scope for an MBA in Innovation and Entrepreneurship is quite promising. As industries continue to evolve, organizations are seeking professionals who can drive innovation and navigate the challenges of entrepreneurship. Graduates of this program can find opportunities in various sectors, including technology, healthcare, finance, and more. 

Innovation and entrepreneurship are the driving forces behind economic growth, job creation, and societal progress. As the business landscape continues to evolve rapidly, the need for individuals who can think innovatively, identify opportunities, and transform ideas into successful ventures has never been greater. Pursuing an MBA with a specialization in Innovation and entrepreneurship is not just a career choice; it's an investment in a future brimming with potential and a host of invaluable advantages. In this comprehensive guide, we will delve into the future scope and the myriad benefits of pursuing an MBA in Innovation & Entrepreneurship.

Moreover, the increasing availability of funding options, government support for startups, and the growing emphasis on technology-driven solutions contribute to a favorable environment for graduates of this program. These professionals can also explore opportunities in corporate innovation teams, where they drive internal change and adaptation.

Additionally, networking opportunities provided during the course can help individuals connect with mentors, investors, and fellow entrepreneurs, enhancing their access to resources and potential collaborations. While the entrepreneurial journey comes with its challenges, the combination of innovative thinking, business acumen, and leadership skills gained from this program positions graduates to capitalize on emerging opportunities and drive meaningful impact in their chosen fields.

Scope for Higher Studies After the Course MBA in Innovation and Entrepreneurship 

(1). Ph.D. in Innovation and Entrepreneurship: Pursuing a doctoral degree allows for in-depth research and academic contributions in the field, often leading to teaching positions in universities.

(2). Specialized Master's Programs: Some individuals may choose to specialize further by pursuing Master's programs in areas like Data Analytics, Marketing, or Finance, enhancing their expertise in specific domains.

Skills that Make You Good Employee After the Course MBA in Innovation and Entrepreneurship 

Skills that makes you best in your work place after the course are given below:

1. Adaptability and Flexibility
2. Communication and Networking
3. Market Analysis and Research
4. Business Development
5. Risk Management
6. Project Management
7. Technology Commercialization

FAQS

1. What is an MBA in Innovation and Entrepreneurship?
An MBA in Innovation and Entrepreneurship is a specialized program that focuses on developing skills and knowledge related to creating and managing innovative startups and entrepreneurial ventures.

2. What are the eligibility criteria for this program?
Eligibility criteria can vary, but typically, candidates should have a bachelor's degree from a recognized university. Some institutions may require relevant work experience.

3. What are the career prospects after completing an MBA in Innovation and Entrepreneurship?
Graduates can pursue careers as entrepreneurs, startup founders, innovation consultants, and venture capitalists, or work in innovation-related roles in established companies.

4. What is the duration of the MBA program in Innovation and Entrepreneurship?
The program generally takes two years to complete, but some institutions offer one-year accelerated programs.

5. Are there any entrance exams required for admission?
Many colleges and universities accept scores from national-level exams like CAT, MAT, and XAT, or may have their own entrance tests. Check with the specific institution for their requirements.

6. What skills will I develop during the program?
You will develop skills in idea generation, market research, business planning, financial management, and leadership, among others.

7. Are there opportunities for internships or practical experience?
Yes, many MBA programs include internships or practical projects with startups or established companies to gain hands-on experience.

8. Can I pursue this program part-time or online?
Some institutions offer part-time or online MBA programs in Innovation and Entrepreneurship to cater to working professionals.

9. Is financial assistance or scholarships available?
Scholarships and financial aid options may vary by institution. You can inquire about scholarships, grants, or loans available to MBA students.

10. How can I find the best MBA program for Innovation and Entrepreneurship in India?
Research different institutions, and check their rankings, faculty expertise, alumni success stories, and program curriculum to find the best fit for your goals and interests

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