Masters (MS) in Entrepreneurship & Innovation Abroad: Fees, Top Universities & Job Scope

The market of entrepreneurship & innovation is on rise. Every top country including US, UK, Canada, and Italy are among the top ones where the entrepreneurship and innovation process is adopted. Since the demand for fresh entrepreneurs and innovative minds is in demand, more and more students prefer pursuing MS in entrepreneurship and innovation programs. The goal of masters in entrepreneurship & innovation is to provide you the knowledge and skills necessary to launch or manage a successful firm. You'll gain a thorough understanding of a variety of topics, including leadership, management, marketing, and business.

For students who are passionate about adding value to their profession, a master in entrepreneurship and innovation is best. An excellent method to develop and explore your business ideas, grow your network of contacts, and learn business theory and skills is to enrol in an entrepreneurship program abroad.As an international student, you will have the chance to study entrepreneurship in popular study abroad countries including the US, Australia, Switzerland, and Canada as an international student.

Top universities abroad cover concepts from finance, management, marketing, and mathematics under the master's degree in entrepreneurship and innovation. Its main goal is to produce the most profit using the fewest resources possible. International students are able to foresee the invention's commercial potential and gather the funds, talent, and other resources needed to translate the invention into a transformation or innovation that is commercially viable. Some of the other reasons are:

1. Selective Courses

Depending on the school and the specialisation, the course will have a different format. Some of the core courses for entrepreneurs include marketing management, operations management, and finance for entrepreneurs, and business fundamentals. Additionally, many schools offer students with practical learning situations, giving them the chance to develop entrepreneurial abilities.

2. Short Duration

MS in entrepreneurship and innovation is a short course compared to other master courses. The course is usually divided into 3 to 4 semesters; international students will be required to prepare a thesis under the administration of a faculty member at most schools. This project assists aspiring entrepreneurs in working on their start-ups or directing possibility and effectiveness studies on business opportunities.  

3. Global Connection

Pursuing masters in entrepreneurship and innovation abroad helps international students to connect with professionals who are either opening or operating successful initiatives. Some universities abroad also conduct seminars as a part of the degree program, and students have the opportunity to meet famous individuals in their fields. This communication between entrepreneurs and students will help them know all sorts of ideas and permit them to boost and improve their thoughts.

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Pursuing masters in entrepreneurship and innovation is quite promising for international students as they get the best practical exposure. Depending on the university you're attending, the course structure may vary.

You can pursue MS in entrepreneurship and innovation abroad with having work experience prior to the course. This will help you get better exposure to the field. Let us check the course structure for the MS in entrepreneurship and innovation.

1. Course Duration- The usual duration of this masters course is around 1-2 years. Most of the top universities offer placement for students.
2. Core Courses Structure- Masters in Entrepreneurship is the supreme course for forthcoming entrepreneurs who aim to set up and progress their business with time. The core courses generally cover fundamental business topics for entrepreneurs including:

• Marketing Management
• Strategic Management
•  Finance for Entrepreneurs
• Operations Management
• Fundamentals of Entrepreneurship

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The course structure provides consistent and sufficient understanding to international students who want to be a part of the entrepreneurial world.The focus of the curriculum is on giving you practical experience in the field to improve your innovative and proactive thinking. Some of the common subjects covered under the masters in entrepreneurship and innovation are:

• Law
• Leadership
• Marketing
• Operations
• Strategy

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Entrepreneurship courses are regularly chosen by students who have a keen interest in the economy, management and leadership. There is a range of specialisation courses offered by top universities for MS in entrepreneurship and innovation. Some of the specialisation courses include-

1. Social Entrepreneurship
2. Technology & Innovation Strategy
3. Intellectual Property Strategy
4. Venture Implementation
5. Strategies & Practices of Family-Controlled Companies
6. Mergers and Acquisitions
7. Consulting to Growth Companies

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Students pursuing masters in entrepreneurship and innovation abroad need to carry some skills which can further help in professional life. Some of the required skills are:

1. Business Management Skills

You need to have a good insight on business management. Since entrepreneurship revolves around business management, you need to have a good eye on management of the company. The course helps students in building up this skill.

2. Analytical and Problem Solving Skills

Business involves analysing your market and competition. You need to come up with solutions for problems faced. Once you are good at analytical and problem solving, you will be able to face challenges.

3. Good Communication Skills

As an entrepreneur, you will be communicating with different business experts, and to make the discussion successful you need to have good communication skills. The course helps in building strong communication skills.

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There are some top countries and universities where international students can opt to pursue MS in entrepreneurship and innovation.You can also easily search for universities in College finder and apply for the masters course. The following top countries are: 

1. MS in Entrepreneurship and Innovation in US

The US is among the top countries to pursue MS in entrepreneurship and innovation. Top business schools across the nation offer excellent learning experience. Through assignments with prestigious organisations, students can also acquire real-world experience. The average annual fees are around USD 67,540-13442 (INR 53, 78,243- 10, 70,393) per year.

University Name

QS World University Ranking 2023

Arizona State University

219

University of Southern Mississippi

-

California State University

1201-1400

University of Illinois Urbana Champaign

85

DePaul University

-

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2. MS in Entrepreneurship and Innovation in UK

The country is perfect for international students who want to explore and learn about revenue and techniques to resolve problems in entrepreneurship. It is the second most sought-after country for higher education in business management. Students from the nation's leading colleges can also take online courses. The average annual fees is around- (USD 27000- 40000- INR 21, 49,035- 31, 83,756) per year.

University Name

QS World University Ranking 2023

King's College London

37

University of Cambridge

2

University of Manchester

28

University of Edinburgh

15

University of Sheffield

96

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3. MS in Entrepreneurship and Innovation in Canada

Canada is the best country to study economic management and leadership due to the country's expanding industrial sector. Students can intern at numerous organisations through a variety of possibilities. They can acquire important managerial skills for the firm as a result. The average annual fees to study MS in Entrepreneurship and Innovation in Canada is around USD 12,250 – USD 27,490 (INR 97, 54, 73.63- 21, 89,042) per year.

University Name

QS World University Ranking 2023

University of British Columbia

47

McGill University

31

University of Toronto

34

University of Alberta

110

York University

456

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4. MS in Entrepreneurship and Innovation in Australia

Australia is the leading nation to pursue masters in innovation and entrepreneurship. The program's focus is to offer international students a complete knowledge of core business disciplines and to progress the critical entrepreneurial skills and mindset needed to lead and accomplish these processes. The average annual fees to study MS in Entrepreneurship and Innovation is around USD 20,000 – USD 42,000 (INR 15, 92,610- 33, 44,481) per year.

University Name

QS World University Ranking 2023

University of Melbourne

33

Australian National University

30

Queensland University of Technology

222

Griffith University

300

University of Adelaide

109

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5. MS in Entrepreneurship and Innovation in Germany

Germany is among the top countries for students to pursue masters in innovation and entrepreneurship. Universities here offer interactive, small-class instruction to its students. They interact directly and frequently with the professors, and they also get individualised support via a mentoring program. The average annual fees to study MS in Entrepreneurship and Innovation is around USD 24,000- 35,000 (INR 1911132- 2787067) per year.

University Name

QS World University Ranking 2023

ESCP Business School

-

Fresenius University of Applied Sciences

-

New European College

-

Hamburg University of Technology

-

Brand University of Applied Sciences

-

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When planning to study masters in entrepreneurship & innovation, the program focuses on ideals of practical business knowledge and approaches. And to acquire this specific course in abroad universities, international students need to fulfil the eligibility criteria & requirements to get admitted successfully. The following requirements are: 

1. Undergraduate Degree
2. English Language Proficiency Scores
3. GRE/GMAT Scores
4. Work Experience
5. Abroad Student Visa

These are some of the specific requirements to study masters in innovation and entrepreneurship. Let’s know it in detail:

1. Undergraduate Degree

International students need to present a bachelor's degree certificate from a recognized university in any of the relevant courses of management or entrepreneurship with a 60-70% score.

2. English Language Tests Scores

When it comes to English language test scores, IELTS, and TOEFL, are important requirements to pursue the masters in entrepreneurship and innovation. These scores are essential not only for admission, but for visa too. In general the score requirement is:

• TOEFL- 85-100
• IELTS-6.5 or more
  
  

3. GRE/GMAT Scores

Various universities abroad ask for standardised test scores, i.e. GMAT/GRE scores. However, every university has its own set of scores requirements, but in general, the average score required for admission is:

• GMAT- 540 or more
• GRE- 170 or more
  
  

4. Work Experience

Many universities abroad offering MS in entrepreneurship and innovation ask for a minimum of 2 years of work experience to enrol for a full-time master's program.

5. Passport and Visa

All overseas students who wish to enrol for the masters in entrepreneurship and innovation at any university abroad must have a current passport and a student visa. Ensure to apply for your visa at least 3 months before the anticipated departure date.

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Admission to apply for the best MS in entrepreneurship and innovation requires a set of documents. Some of these important documents are mentioned below.

1. Education transcripts of previous institutions
2. Standardised test scores
3. Letter of Recommendation
4. English Language Test Scores
5. GRE/GMAT Score
6. Updated Resume or CV
7. Statement of Purpose
8. Valid Passport
9. Study Permit

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Here is a step-by-step guide to apply for masters in innovation and entrepreneurship at top universities:

1. Find out the best universities and colleges that offer masters in innovation and entrepreneurship.
2. Now you need to browse the university websites and collect all the information required for admission to these courses.
3. Submit all the documents such as test scores, transcripts, certificates, etc.
4. Fill out your application form with all the necessary details and pay the application fees.
5. After processing your application, you will be asked to attend an interview as a part of the admission process from the university.
6. Once you clear the interview, you will get your admission letter and you can book your seat at the college or university.
7. Pay your tuition fees and start your desired course at the university

Important Resources to Read About Abroad Countries 

• Eligibility and Requirements for MS in USA
• US vs UK for Masters
• 5 Best Countries to Study MS Abroad
• Top Reasons to Study Abroad
• MYTH VS FACT OF ABROAD STUDIES
• Student Accommodation Abroad

Students who seek masters in entrepreneurship and innovation in any country will get scholarships that cover the cost of study. Some of the scholarships offered by universities to pursue this masters course are:

1. Penn GSE Merit-Based Scholarship- US

Scholarships are provided to international students pursuing master’s courses. The awards are generated at the time of application analysis by the academic department and are based on the academic merit score of the application for admission.

Scholarship Eligibility Criteria:

• International students having good academic records in undergraduate are eligible.
• Students have to undertake a master’s degree program.

Amount- USD 10,000 (INR 795939)

2. Dean's Excellence Scholarship Program-UK

The Dean's Excellence Scholarship Program is based on merit and exists to all international students of business school taught Masters. It is offered by the University of Edinburgh Business School to help students in covering the cost of study for master’s courses.

Scholarship Eligibility Criteria:

• The scholarship program is based on merit and available to all students of business school.
• Have the potential to subsidise and enhance all aspects of the master’s program and the varied academic and cultural profile of the masters class. 

Amount- USD 10024 (INR 797849.25)

3. Salford Business School Postgraduate International Excellence Scholarship in UK

The Salford International Excellence Scholarship provides financial assistance to a variety of talented, visionary, and creative international students pursuing undergraduate and graduate degrees with the goal of becoming tomorrow's leaders.

Scholarship Eligibility Criteria:

• Students seeking grants for masters will need to provide a bachelor's degree certificate and should have 3-4 years of work experience.
• The student must be given a fee on the international student fee rate.

Amount- USD 5000 (INR 398152)

4. Chevening Scholarships-UK

Chevening Scholarships is funded by the Foreign and Commonwealth Office (FCO) - for students seeking master's programs in UK. The scholarships are for those who have established success in rising to important positions in a range of professions inside their home countries and who also have a strong sense of determination, desire, and leadership potential.

Scholarship Eligibility Criteria:

• International students having top academic records are considered. Students must also take part in the master’s program to be under the eligible criteria of scholarship.
• High scores on the English language proficiency test

Amount- USD 21,964 (INR 17, 56,074.73)

When you apply for a master's Degree in entrepreneurship and innovation abroad, you need to consider the overall cost of studying which comprises fees and living.

1. Tuition Fees

The master’s degree in entrepreneurship and innovation fees in most universities and colleges is around- (USD 54,600- 49,998- INR 43, 47,825- 39, 81,365) per year. However, the majority of public universities offer courses at low fees for international students.

2. Cost of Living

Besides study fees, students also need to have enough funds to fill the cost of living in their respective country. On average, the cost of living that covers transportation, accommodation, food, and others is around (USD 1000-2000 INR 79945.50- 159891) monthly.

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