5 Popular Entrepreneurial Development Programs in 2019

In an era where start-ups are the norm, and small businesses are budding from every corner, entrepreneurship is flourishing around the world. However, the growth of startups and small businesses is accompanied by a rise in failure rates of start-ups.

The failure rate has been attributed to inexperienced entrepreneurs failing because of a lack of skills or experience. Thereby, creating a demand for EDPs. 

An EDP, also known as an Entrepreneurship Development Program, is a program conducted to develop entrepreneurship skills in individuals. While an MBA promises to get you ready for the corporate world, the EDP introduces you to the concept of Entrepreneurship and helps you get started for the world of entrepreneurship.

You might already be an entrepreneur or have an idea to start a new business venture. Either way, an EDP (Entrepreneurial Development Program) can help you strive in this competitive world by gaining an insight into the field of entrepreneurship, and show you how to seek opportunities that lie beyond what meets the eye. 

Growth of EDPs (Entrepreneurial Development Programs)

The growing popularity of entrepreneurship has given rise to the launch of entrepreneurship development programs started by famous universities across the globe. The popularity of courses offering programs to students learning how to start their entrepreneurship journey has grown multifold over the years. Though each of the programs varies in duration, cost, and teaching methods, they all aim to improve the entrepreneurial skillset of students attending the course and help them learn the steps to become an entrepreneur.

Here are some statistics to demonstrate the increase in Entrepreneurship courses offered by US Colleges.

• When analyzing the statistics of the past 30 years, formal programs like degrees and diplomas offering entrepreneurship have increased in the U.S. vastly from 104 in 1975 to more than 500 in 2006.
• The number of courses offered in entrepreneurship has marked a staggering increase from 250 in 1985 to 5000 in 2008.
• One out of three owners of business start-ups is based at universities.
• By 2013, many educational institutions across the U.S. have made it compulsory for all students to take courses related to basic principles of entrepreneurship.
• The percentage of freshmen at universities who aspire to be entrepreneurs have doubled from 1.5 in 1975 to 3.3 in 2008.

Today, the leading entrepreneurship programs available for graduates isn’t limited to the U.S. colleges. Here’s a list of popular Entrepreneurial Development Programs around the globe:

1) Master of Science in Management in Entrepreneurial Leadership — Babson College—(Texas, U.S.A)

When it comes to EDPs, Babson College in Texas runs one of the best programs for Entrepreneurship programs in the world. With a vision of shaping tomorrow and a focus on launching new ideas with ground-breaking research, the program sharpens your innovation skills.

It prepares students to emerge as confident and robust entrepreneurs through an intensive course criterion which provides them in-depth knowledge about the field and help them gain first-hand experience through its many practical projects.

Moreover, it is focused on three integral aspects paramount for an entrepreneurial mindset; personal development, career growth, and organizational success.

Key points about the program:

• The program is designed to serve students right out of college, and unlike other courses, it does not require 3-5 years of work experience.
• A program that is both cost and time effective, as it lets graduates complete a Masters’s degree within a short span of nine months at an affordable fee. 
• The course’s student strength includes students attending the course from a variety of professional backgrounds, which not only include students from backgrounds like accountants, financial analysts, and entrepreneurs, but also athletes, nonprofit organizers, writers, and artists.
• The program provides an invaluable opportunity for students to equip themselves with four core skills such as effective communication, problem-solving, strategic collaboration, and leadership that are crucial to becoming successful entrepreneurs.
• The experiential learning method engages students in fieldwork to reinforce the learning activities done in class. This includes the development of a business idea and execution as a team, exposure to the field of entrepreneurship in the global arena, providing consultation to business and helping it resolve an issue, and collaborative action to enhance PR. 

Course details:

Course duration:

• 9 months

Fees:

• $85,898 for the entire course.

Important statistics about the course:

• 86% are International Students.
• 40% are women.
• 33% U.S. Diversity.
• 3.32 Average GPA.
• 603 Average GMAT Score.
• 1 Year Average Work Experience.
• The course is Ranked No.1 in entrepreneurship.
• 21% of past students have gone to start a business.
• 95% of MSEL graduates start work within six months of graduation and pursue careers in diverse fields.

Application requirements:

• • Submit the graduation transcripts.
  • Ask for recommendations and submit them.
  • Write the essay or short answer questions (online).
  • Upload your professional resume.

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2) MSc in Innovation and Entrepreneurship — Esade Business School — (Belgium)

Almost at the same level as the Babson College, the program from Esade Business School, Belgium specializes in building a disruptive mindset and unlocking creativity, innovation, and invention. Most importantly, you get to learn Spanish – one of the widely used languages across the globe. The Esade Entrepreneurship program is known to provide aspiring entrepreneurs with the necessary training to turn their raw ideas into reality.

Key points about the program:

• The course focuses on helping students find, launch, and manage new ventures with high-growth potential.
• Ability to identify fresh prospects and assess their rewards.
• It also helps students design business models and analyzes their feasibility to build successful start-ups and prepare business plans.
• The course is known to help students be a part of the funding process.

Course details: 

Course duration:

• One year (full time)

Fees:

• €29,100 for the entire course

Important statistics about the program:

• 95% of students employed within three months of graduation.
• 45% found a job outside their home country.
• 7% starting a new business.
• Average Starting Salary – €58,456
• Maximum Starting Salary – €99,000

Eligibility:

• Graduates in any discipline are welcome to apply. If you do not have a business management or economics academic background, you could be required to enroll in the Business Integration Path (BIP).
• The following English-language level tests are accepted with minimum scores as follows (valid only for two years):
  • TOEFL: 100+ (ESADE’s code is 0507)
  • IELTS: 7.0+
  • Certificate in Advanced English: B+
  • Certificate of Proficiency in English: C+
  • PTE Academic: 68+
• For native English speakers, or if your bachelor’s degree was taught in English (min. three academic years/at least 120 ECTS), you do not need to prove your level as long as you send a certificate from your university (e.g., diploma supplement) stating the language of instruction.

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3) MSc in Strategic Entrepreneurship — Rotterdam School of Management —(Netherlands)

The program is aimed at helping graduate students execute new business ideas, or transform existing firms to be better. It instills integral skills demanded by the dynamic and globalized business world like the ability to make decisions in critical situations and sharpening interpersonal skills to build strong cross-cultural relationships. Moreover, it trains students to think creatively to exploit new opportunities available out there. It also helps you get start-up support from their sister organization, Erasmus Centre for Entrepreneurship.

 Key points about the program:

• An action-based approach towards learning to prepare students for real-world challenges.
• Specialize in the application of scientific methods when partaking in experiments of entrepreneurship.
• A science-based curriculum taught by a team of qualified international staff members.
• Classes are held in small batches so that you receive adequate space to engage in studies.  
• You get an opportunity to interact with like-minded people, start-up companies, past students, and experts in the field to build a network. 
• Receive career coaching by individuals who possess significant experience in the field of entrepreneurship.

Course details:

Course duration:

• One year 

Fees: 

• €18,200 per year is the 2020-2021 tuition fee for the MSc programs.

Important statistics about the program:

• 48% of international students in the program.
• 100% of graduates employed within three months after graduation.

Eligibility:

• All applicants must hold a bachelor’s (BSc) degree or an undergraduate degree that is comparable in level with a bachelor’s degree obtained at a Dutch research university (WO).

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4) Master of Entrepreneurship — The University of Melbourne — (Melbourne)

If you have a profitable business idea but aren’t sure how to implement and monetize it, this program can help you. The program provides you the knowledge and skills needed to develop your own startup initiatives and pitch for real funding to launch your enterprise. It helps you learn how to devise a successful business model from scratch and meet experts in the field to gear you up with the best advice. But, that’s not all. The University of Melbourne also links you with start-ups and helps you gain a wealth of experience by interning.

Key points about the program:

• The program is geared towards individuals who wish to enter the field of entrepreneurship and innovate, iterate, and solve real-world problems.
• The opportunity to learn in an institute especially built with the purpose of creating a conducive ambiance to learn, experiment, fail, and grow. The Wade Institute is designed as a 24/7 co-working space ideal for small-class seminars and individuals to learn on their own.
  The team of lecturers assigned for this program consists of renowned academics and experts engaged in the field of entrepreneurship.
• The program is held in small batches of students for special individual attention and to provide you with adequate space for experiential learning by engaging with a diverse range of experts and professionals in the field.
• The graduates from this program have gone to pursue their own innovative start-ups or have integrated with existing companies to pitch in their knowledge.

Course details:

Course duration:

• One year (full time) with the availability of courses for domestic and international students. The course allows part-time study but it’s available only for local students.

Fees:

• The indicative total course fee for the program for 2020 is AUD $52,320.

Important statistics about the program:

• 60% of the cohort was born in a country other than Australia.
• 1 in 4 has a master’s degree or Ph.D. qualifications.
• More than half of the students have worked in a startup, side hustle, or family business.
• Over 15 different academic background disciplines and industries are represented.

Eligibility:

• A 5-minute video pitching why the prospective student should be selected for the Masters of Entrepreneurship.
• An interview for shortlisted candidates only.
• The English language qualification for this course is Band 7.0 in IELTS.

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5) MSc in Innovation and Entrepreneurship —University of Bristol — (Bristol)

The Master’s Degree offered by the University of Bristol is heavily focused on giving rise to entrepreneurs who are adaptive to the 21st-century demands using modern methods. This program is not only driven towards helping graduates embark on new, innovative ventures but also enhance their cognitive skills to help existing organizations leverage their capacity. As per the institute, the program will teach you how to apply your subject-specific knowledge and skills to real-world challenges and critical issues impacting the business.

 Key points about the program:

• The program focuses on creating innovation and meeting real human needs and will put you on a series of entrepreneurial challenges to meet such requirements.
• It also provides you with an opportunity to work with a team of individuals from different disciplines and learn about different kinds of enterprise.
• Another major project in this program is to work with a client to invent solutions and possibilities and create models to test them with customers.
• In the final project, of course, the candidates are expected to work in teams to demonstrate their learnings by launching a new product, service, or a social enterprise.
• Innovation students graduating from this program have been successful in gaining Tier 1 (Graduate Entrepreneur) visas to continue to explore their ideas in the UK after graduation.
• Graduate with a portfolio of projects you have worked on to demonstrate your true capabilities and a well-established network of professional contacts in the field of entrepreneurship.  

Course details:

Course duration:

• One year, full time, offering an MSc full-time degree at the end of course.

Fees:

• The fee for the program for UK/EU & Channel Islands/ Isle of Man students is €14,100 for the entire course and for overseas students €26,200
• The course is available to both local and international students.

Eligibility:

• An upper second-class honors degree (or international equivalent), references, a suitable personal statement, and an innovation pitch. Non-traditional qualifications/routes may also be considered.
• The International equivalent qualifications differ based on the country.

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