Tech innovation, economic change and the pressure on young people to take an entrepreneurial approach to their job hunt are contributing to a rising demand for entrepreneurship courses.
In September 2016 several universities launched new courses with “entrepreneurship” in the title. Some, such as Northumbria University’s MSc in entrepreneurship, are entirely practical; others, such as the LSE’s MSc in social innovation and entrepreneurship, include elements of other disciplines (in this case, anthropology, sociology and economics).
“I chose an MSc in entrepreneurship because I want to learn the skills necessary to minimise the risk of starting my own business,” explains Patcharaphol Achariyasilp, who is part of the first cohort of Cass Business School’s MSc in entrepreneurship. His team recently won a university prize for their pitch to sell “hassle-free survival kits” to international students arriving in London. Achariyasilp adds that a benefit of the course is the chance to connect with classmates and the hands-on, interactive learning approach.
Others, such as 24-year-old Marco Mambretti, who completed an MSc in entrepreneurship and management from Henley Business School, chose the path after finding the graduate job market tough. He is now employed at a startup in Switzerland, having worked with them during the MSc.
“A few years ago just doing a master’s meant you could find a good job and have a decent career – now it’s not like that,” Mambretti says. “We need to create our own job opportunities.”
Not all entrepreneurship MScs have the same content or approach, though. Raluca Bunduchi, programme director for the University of Edinburgh’s new MSc in entrepreneurship and innovation, says her course teaches both “entre- and intra-preneurs” – in other words, students who want to set up their own business and those want to innovate within existing organisations.
So, is applying to an MSc like this a guaranteed route to success? It’s not that simple, says Chris Coleridge, director of the postgraduate diploma in entrepreneurship at University of Cambridge’s Judge Business School. His top tip for applicants to any entrepreneurship course is to be committed but flexibile.
Alex Nicholson, co-founder of software company Autotrip, chose to do the Judge course before launching. “I wanted to use the course to solve as many business problems I could think of – the qualification helped give investors’ confidence,” he says.
Coleridge advises students to go on to the course with their eyes open. “You cannot be too wedded to your idea,” he says. “Startups fail and you need to iterate your plans using market research. Don’t be starry-eyed or expect to be taught to be successful. You need to approach it actively.”
