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MBA in Innovation and Entrepreneurship is a two-year postgraduate degree programme offering students knowledge of business, research, and entrepreneurship techniques and concepts. Entrepreneurship as a concept has evolved a lot in recent times, due to which the scope is very broad. In today's dynamic and rapidly evolving world of innovation and entrepreneurship, candidates with expertise in this specialisation are highly sought after due to their knowledge and skills.
The MBA in Innovation and Entrepreneurship course provides knowledge of finance, market research, and project management and covers areas such as digital marketing, data analytics, and emerging technologies like AI and ML. With the help of hands-on experience, case studies, projects, and research, the MBA in Innovation and Entrepreneurship prepares graduates for roles in startup leadership, innovation management, corporate venturing, and consulting. In this article, we will read about the scope, careers, fees, salary, and benefits of an MBA in Innovation and Entrepreneurship.
Particulars | Values |
---|---|
Degree Name | MBA Innovation and Entrepreneurship |
Course Details | Postgraduate |
Course Duration | 2 years |
Entrance Exams | CAT, CMAT, GMAT, MAT, NMAT |
Eligibility Criteria | Bachelor’s degree |
Admission Process | Entrance Test |
Fees for the entire duration | Rs. 5 lakhs to Rs. 9 lakhs |
Average Salary | Rs. 10.91 LPA |
Job Profiles | Business Development Manager, Corporate Manager, Product Manager, Management Consultant, Brand Manager |
Top Recruiters | JP Morgan, Adobe, BCG, Deloitte, Accenture, EY |
Every college has its own MBA Innovation and Entrepreneurship eligibility criteria, which are available on its official website. While a degree with a minimum set of marks is a common requirement for all colleges, the type of degree and the required minimum marks can vary between institutions. Government-funded institutions tend to have stricter requirements compared to private colleges.
The MBA Innovation and Entrepreneurship eligibility criteria may also vary based on the nationality of the candidates, with international students often having slightly different requirements than Indian students. The following is a list of MBA Innovation and Entrepreneurship eligibility criteria considered by most management colleges in India.
Eligibility Parameters | Details |
---|---|
Educational Qualification | Bachelor's degree from a recognised institute in India |
Minimum aggregate requirements | 50 per cent aggregate score, 5-10 per cent relaxation for candidates belonging to the reserved categories |
Entrance Examination | CAT, MAT, SNAP, and CMAT are some of the popular entrance examinations |
Work Experience | 1-2 years (depending on the institute) |
After fulfilling the eligibility requirements of the course, candidates can apply for admission to the desired institute. Annually, colleges release admission notifications on their official websites regarding eligibility criteria, entrance examinations, seat intake, and reservation norms. It may vary from one college to another, but most of the public colleges follow a similar process.
This process often includes an entrance test, followed by seat allotment based on the scorecard of the entrance test. Due to the high level of competition, gaining admission to public colleges can be challenging, and candidates are generally required to achieve high scores on the entrance test. Also, public colleges often follow reservation norms specified by the state or central government during the admission process.
Step 1- Eligibility Criteria
The eligibility requirements for the MBA in Innovation and Entrepreneurship depend on the institute; students are advised to follow the eligibility requirements.
Step 2- Fill out the online application form
After fulfilling the eligibility requirements of the course, candidates can fill out the online application form. They can also get the application form by visiting the admission department of the provider.
Step 3- Entrance examination
Eligible candidates should appear for the entrance examination. CAT, MAT, CMAT, SNAP, and XAT are the popular entrance examinations.
Step 4- Cutoff score
The cutoff percentage is released annually by the colleges; candidates can check the cutoff score released on the official website of the provider.
Step 5- Pay the course fees and submit official documents
Shortlisted candidates should pay the course fees and submit relevant documents to conclude the admission procedure.
Premier management institutes in India admit students based on their performance in entrance examinations. These entrance exams may include the CAT, CMAT, GMAT, MAT, and NMAT, among others. Below, we have listed some of the top MBA Innovation and Entrepreneurship entrance examinations that serve as gateways to admission to the best management colleges in India.
Exam Name | Conducting Body | Exam Pattern |
---|---|---|
Indian Institute of Management Lucknow | ||
All India Management Association (AIMA) | ||
National Testing Agency | ||
Xavier School of Management | ||
Graduate Management Admission Council | ||
Graduate Management Admission Council | - |
The MBA Innovation and Entrepreneurship cutoff score for each college varies, with top colleges having higher cutoff scores. Many colleges base their cutoffs on entrance exams such as the CAT, CMAT, GMAT, MAT, NMAT, and other state or university-level exams. The MBA Innovation and Entrepreneurship cutoff can fluctuate each year, depending on factors like the exam's difficulty level, the total number of available seats, and the number of applicants.
The MBA Innovation and Entrepreneurship curriculum is divided into four semesters, comprising core subjects, elective subjects, case studies, projects, and internships. While the specific subjects taught in the curriculum may vary across colleges, the overall structure remains consistent for most institutions. In the table below, we have compiled a list of MBA Innovation and Entrepreneurship subjects taught at SIBM Pune.
In the first year of an MBA in Innovation and Entrepreneurship, students will study subjects such as Fundamentals of Innovation, Creativity, Problem Solving, Business Analytics, and Strategic Management. They can find the syllabus on the official website of the institute or the programme prospectus of the institute.
Semester 1 | Semester 2 |
---|---|
Project I | Project II |
Fundamentals of Innovation | Sectorial Innovations-II |
Creativity and Problem Solving | Business Analytics |
Essentials of Marketing Management | Management of Operations |
Marketing Research | Strategic Management |
Tinker Lab | Industrial Automation & Robotics Lab |
Fundamentals of Entrepreneurship and Intrapreneurship | AI and ML for Business Management |
Business Communication | Internship |
Design Thinking | Organizational Behaviour |
Financial Accounting | Lean Startup |
Sectorial Innovations - I | Product Design |
Managerial Economics | Integrated Disaster Management |
In the 2nd year of an MBA, Innovation and Entrepreneurship candidates will study subjects such as Marketing Strategies for Entrepreneurs, Project Management, and Conflict Negotiation. Students can find the syllabus on the official website of the provider.
Semester 3 | Semester 4 |
---|---|
Project III | Project V |
Basics of Intellectual Property and Business Law | Innovation Lab II (New Venture Planning) |
Marketing Strategies For Entrepreneurs | Elective |
Management Information Systems | Innovation Lab I |
Project Management | Export-Import Management |
Project IV | - |
Finance Strategy | - |
Conflict and Negotiation | - |
Human Resource Management | - |
Venture and Private Equity Funding | - |
Candidates will find significant variation in MBA Innovation and Entrepreneurship fees, as they vary across different institutions. Public colleges typically offer lower fees compared to private colleges, but gaining admission to these public colleges can be challenging due to their rigid admission procedures. Public colleges often provide scholarships for deserving students and those belonging to reserved categories.
MBA Innovation and Entrepreneurship fees are determined by various factors, including the academic and placement records of the college, location, and facilities provided. Also, fees may vary based on gender and can differ for international students. The average MBA Innovation and Entrepreneurship fees range from Rs. 5 lakhs to Rs. 9 lakhs.
An MBA in Innovation and Entrepreneurship is a dynamic and ever-evolving field of business and innovation, and its scope is promising. Graduates can work in the investment sector, evaluating startups and innovative businesses for potential investments and helping them grow. Furthermore, those who aspire to start their businesses and work on innovative ideas can become entrepreneurs.
Candidates with an interest in higher education can choose to pursue a Ph.D. and secure job roles as academicians or researchers. The scope of an MBA in Innovation and Entrepreneurship is not limited to a specific industry or sector. It spans various sectors, including technology, healthcare, finance, and education.
The career options after an MBA in Innovation and Entrepreneurship are diverse, and the skills gained during the programme curriculum can be used across industries. Candidates can pursue career paths according to their interests, strengths, and the specific opportunities available in their region or globally. Below, we have listed some of the MBA Innovation and Entrepreneurship careers.
Business Development Managers: Business development managers focus on identifying new business opportunities, strategic partnerships, and markets for growth. Their work often involves emerging technologies or markets.
Corporate Managers: Corporate managers are responsible for overseeing various aspects of a company's operations, including planning, organising, and coordinating activities to achieve organisational goals. These professionals are essential for maintaining the success and growth of a corporation.
Product Managers: Product managers are responsible for the development, strategy, and life cycle of a product. They play a critical role in driving product innovation and success.
Management Consultants: Management consultants are professionals who offer expert advice to organisations to help improve their performance and efficiency. They assess business challenges, provide strategic recommendations, and assist in implementing solutions.
Brand Managers: Brand managers are responsible for developing and maintaining the brand image and identity of a product or company. They create marketing strategies, oversee advertising campaigns, and ensure the brand's message aligns with the target audience.
MBA Innovation and Entrepreneurship benefits individuals with the skills and knowledge to advance their careers in business and innovation within established companies. Many top companies across the globe are highly sought-after individuals with an MBA in Innovation and Entrepreneurship. Graduates can pursue careers in various fields, including technology, healthcare, sustainability, and social entrepreneurship.
The salary after completing an MBA in Innovation and Entrepreneurship depends significantly on the candidates' level of experience, job role, employment company, and location. Candidates hired through campus placements at top management colleges in India tend to receive higher MBA Innovation and Entrepreneurship salaries, as these colleges attract many leading recruiters annually. In the table below, we have provided the average MBA Innovation and Entrepreneurship salary along with their corresponding job roles.
Job Roles | Average Salary |
---|---|
Business Development Manager | Rs. 6.56 LPA |
Corporate Manager | Rs. 10.91 LPA |
Product Manager | Rs. 14.26 LPA |
Management Consultant | Rs. 12.79 LPA |
Entrepreneur | Rs. 1.86 LPA |
Brand Manager | Rs. 8.84 LPA |
An MBA in Innovation and Entrepreneurship is designed for aspiring entrepreneurs, startup enthusiasts, and business leaders who aim to turn bold ideas into sustainable ventures. Here are some best colleges for this programme-
To conclude, an MBA in Innovation and Entrepreneurship is an exciting course for someone interested in establishing a business firm and becoming an entrepreneur. With the growing startup ecosystem in India and increasing government support through initiatives such as Startup India, leading business schools are now offering specialised MBA programmes tailored for innovation and entrepreneurial success.
MBA in Innovation and Entrepreneurship provides a comprehensive understanding of how to identify opportunities, develop innovative solutions, and effectively manage and lead new ventures or innovation initiatives.
An MBA in Innovation and Entrepreneurship can be worth it if candidates have entrepreneurial ambitions, seek to excel in innovative roles within established companies, or want to adapt to the evolving business landscape.
The average salary can vary depending on factors like experience and job role. On average, graduates can expect salaries ranging from Rs. 6.56 LPA for Business Development Managers to Rs. 14.26 LPA for Product Managers.
Candidates who have a bachelor's degree in any discipline from a recognised university with a minimum specified percentage are eligible to apply for MBA Innovation and Entrepreneurship courses.
The choice of selecting a course depends on the candidate's career goals and interests. The key difference is that an MBA provides a broad business education, while an MBA in Innovation specialises in teaching innovation, creativity, and entrepreneurial skills.
Graduates can pursue careers as entrepreneurs, business development managers, corporate managers, product managers, management consultants, and brand managers.
The scope is diverse and extends across various sectors, including technology, healthcare, finance, and sustainability. Graduates can become entrepreneurs, innovators, and consultants.
Some of the top entrance exams include CAT, CMAT, GMAT, MAT, and NMAT.
Core subjects often include fundamentals of entrepreneurship, innovation management, marketing, finance, and business communication.
The average fee ranges from Rs. 5 lakhs to Rs. 9 lakhs, with variations based on factors such as college ranking and location.
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