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Should you pursue a Master in Entrepreneurship?

SOURCE: Photo by Bennett Raglin/Getty Images for iTalk Events/AFP
Entrepreneur James Pratt attends iTalk "Motivational Nightlife" event at Ogilvy & Mather Advertising on February 21, 2020 in New York City. Is a Master in Entrepreneurship the key to begin your entrepreneurial journey?


By U2B Staff 

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As a Master in Entrepreneurship is a specialised degree, those in top-ranking programmes see excellent graduate outcomes and thrive in their careers. 

Jennifer Pierre, who graduated with her Master of Science in Management in Entrepreneurial Leadership (MSEL) from Babson College in 2016, founded her own toy line called Melanites – a line of boy dolls that celebrated brown boyhood and reflects four backgrounds: African-American, Caribbean, Indian, and biracial.

Ranked No.1 in Entrepreneurship in U.S News & World Report from 1994-2019, the Master of Science in Management in Entrepreneurial Leadership (MSEL) at Babson College is the top programme in the field.

She was inspired to create the toy doll line after she volunteered at a Miami community centre last summer. This business idea had always been in the back of her mind, but she originally wanted to focus on black girls and encouraging them to embrace their natural hair and beauty.

However, observing the way the boys in second and third grade – all minorities – interact with each other as they talked about sports and proved their toughness to one another, she changed her mind. 

Instead of weapons, the toy dolls under the Melanite line come with accessory kits that transform the dolls into four identities: thinkers, doers, makers, and performers.

She said, “I’d like for the toys to break the mould in the toy industry—to be dolls in the boys aisle, and also to be diverse on purpose from the get-go.”

Pierre is also part of Babson’s Women Innovating Now Lab, a community of female entrepreneurs. 

If bringing your innovative plans to life as Jennifer Pierre did is what you’re after, then a graduate degree in Entrepreneurship can help you achieve it. 

Whether it’s because you have plans to launch your own start-up or business or because you want to gain an entrepreneurial mindset as an employee in your organisation, a graduate degree in Entrepreneurship can give you the tools you need.

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A Master in Entrepreneurship is becoming a popular choice for those looking for a specialised graduate degree in Business.

There are also online Master in Entrepreneurship programmes where you can gain the relevant skills without giving up your full-time job – such as the highly-ranked Online Master of Science in Entrepreneurship at Syracuse University in the US.

Those born in the millennial generation – known as the entrepreneur generation – are embarking on entrepreneurial journeys more than ever, and Gen Z is following suit. 

Employees today are also increasingly expected to be dynamic and active players in their organisations, and cultivate an entrepreneurial mindset to bring novel projects or come up with innovative solutions for businesses.

Having entrepreneurial skills is also important to succeed in the Fourth Industrial Revolution as technology becomes more automated.

According to the World Economic Forum, “The Fourth Industrial Revolution requires that people become more entrepreneurial in their approach to employment, and this new spirit can be exercised indirectly by being an intrapreneur – an employee who works for someone else but embodies the entrepreneurial spirit of being innovative and seeking continuous improvement of the things around them – or directly as an entrepreneur.”

While several MBA programmes today also foster an entrepreneurial mindset in graduates through practical learning and capstone projects, this degree is suitable for those who specifically want to improve their entrepreneurial skills and may not need the other modules. 

Also, unlike MBA programmes, you will not need to take the GRE or GMAT exams or have an undergraduate degree in business to apply for most Master in Entrepreneurship programmes.

In a Master in Entrepreneurship course, you will also interact with fellow students and faculty from diverse backgrounds where you can learn from each other and build a strong network.

However, keep in mind that getting accepted into Master in Entrepreneurship programme can be competitive. You will typically have to prove in your application that you have the drive to become an entrepreneur, or the experience to show it. 

As with all specialised graduate degrees in Business, it’s best to carefully evaluate what you stand to gain from it and how it will help you in achieving your future career goals. 

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