Entrepreneurship and Innovative Ventures Master of science degree
Entrepreneurship and Innovative Ventures
Master of science degree
Overview
Earning your masters in entrepreneurship and innovative ventures means learning to lead the way in introducing unique solutions to global problems.
RIT’s well renowned resources in business, science, technology, engineering, and the arts make it the center of innovation. You are encouraged to take advantage of these resources, including the Simone Center for Innovation and Entrepreneurship, as you learn to bring new ideas to the marketplace. You will graduate with the business and technical expertise needed to thrive in both large incumbent firms as well as new start-up ventures.
The MS degree in entrepreneurship and innovative ventures focuses on the entrepreneurial and innovation process, by which inventions or creative new ideas are brought to market. Graduates achieve a unique combination of technical and business expertise that is especially relevant to start-up ventures or professionals supporting small business start-ups.
Plan of study
The program requires students to complete 30 credit hours consisting of six required core courses designed to increase a student’s knowledge of accounting, organizational behavior and leadership, technology management, entrepreneurship, marketing, and product commercialization; two innovation courses that increase student's knowledge of managing the innovation process; and two elective courses that provide students with additional background in areas of interest.
International Students: F-1 OPT STEM 24-Month Work Extension
International students receiving the MS in entrepreneurship and innovative ventures degree qualify to apply for a 24-month work extension to their OPT (Optional Practical Training) period. This extension means that students could be eligible for up to two and a half years of work in the United States.
The extension is exclusive to qualifying STEM (science, technology, engineering or math) focused programs. The MS in entrepreneurship and innovative ventures program qualifies for an F-1 OPT STEM Extension, under the CIP Code 27.0305-Financial Mathematics in the 2012 STEM-Designated Degree Program List published by the U.S. Immigration and Customs Enforcement (ICE) office. For more information please visit the U.S. Citizenship and Immigration Services (USCIS)webpages: Understanding F-1 OPT Requirements and Questions and Answers: Extension of Optional Practical Training Program for Qualified Students.
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Industries
Curriculum
Entrepreneurship and Innovative Ventures, MS degree, typical course sequence
| Course | Sem. Cr. Hrs. | |
|---|---|---|
| FINC-605 |
Financing New Ventures
A focus on financial issues affecting an entrepreneur. The course emphasizes, identifies, and follows the wealth creation cycle. The wealth creation cycle begins with an idea for a good, product or service, progresses to an initial company startup, passes through successive stages of growth, considers alternative approaches to resource financing, and ends with harvesting the wealth created through an initial public offering, merger or sale. Identification and valuation of business opportunities, how and from whom entrepreneurs raise funds, how financial contracts are structured to both manage risk and align incentives, and alternative approaches by which entrepreneurs identify exit strategies are reviewed.
|
3 |
| MGMT-720 |
Entrepreneurship and New Venture Creation
This course studies the process of creating new ventures with an emphasis on understanding the role of the entrepreneur in identifying opportunities, seeking capital and other resources, and managing the formation and growth of a new venture.
|
3 |
| MGMT-730 |
Technology Entrepreneurship
This course addresses the unique challenges for the entrepreneur in management of value capture through innovation, and the importance of technology-based innovation for the establishment and growth of the new venture in global products and services industries. The course integrates four major themes: (1) Appropriability and Entrepreneurial Innovation (2) the relationships between innovation, value creation, and value capture amongst customers, stakeholders, and the marketplace, (3) the role of technology in creating global competitive advance in both product-based and services-based industries, and (4) developing and monitoring the operational framework for the delivery of new value in products and services.
|
3 |
| MGMT-755 |
Negotiations
This course is designed to teach the art and science of negotiation so that one can negotiate successfully in a variety of settings, within one's day-to-day experiences and, especially, within the broad spectrum of negotiation problems faced by managers and other professionals. Individual class sessions will explore the many ways that people think about and practice negotiation skills and strategies in a variety of contexts.
|
3 |
| MGMT-765 |
Applied Venture Creation
This project-oriented course enables students to gain multi-disciplinary experience in entrepreneurship, venture creation, or product/service commercialization through a number of alternative venues. Student teams gain applied and practical knowledge by participating in an actual entrepreneurial or commercialization project. These projects include: advancing/maturing a student-originated business concept, developing commercialization plans in partnership with various RIT college product/service development projects, or creating commercial business plans for RIT-generated intellectual property. Students meet with supervising faculty on a weekly basis. *Note: Instructor permission required. Contingent on project and team mix. See a Saunders College graduate adviser for details
|
3 |
Open Graduate Electives |
9 | |
Program Electives |
6 | |
| Total Semester Credit Hours | 30 |
|
Program electives
| Course | |
|---|---|
| DECS-744 |
Project Management
A study in the principles of project management and the application of various tools and techniques for project planning and control. This course focuses on the leadership role of the project manager, and the roles and responsibilities of the team members. Considerable emphasis is placed on statements of work and work breakdown structures. The course uses a combination of lecture/discussion, group exercises, and case studies.
|
| MGMT-610 |
Global Entrepreneurship
Global entrepreneurs need to utilize both domestic and overseas resources, explore transnational opportunities, and leverage worldwide networks at early stages of the development. This course is designed to address the unique challenges of this global challenge, as well as the richer opportunities faced by the “born globals.” Students will learn how to discover, evaluate, and enact opportunities across national borders in order to create goods and services that serve various company goals. Students will also be informed of the competitive strategies normally adopted by international entrepreneurs in other major economies such as EU, China, and India.
|
| MGMT-735 |
Management of Innovation in Products and Services
This course addresses the management of innovation, sustainable technology, and the importance of technology-based innovation for the growth of the global products and services industries. The course integrates three major themes: (1) leading-edge concepts in innovation, (2) the role of technology in creating global competitive advance in both product-based and services-based industries, and (3) the responsibility of businesses related to sustainability. The importance of digital technology as an enabler of innovative services is covered throughout the course. (completion of four graduate business courses)
|
| MKTG-772 |
Internet Marketing: Strategy & Tactics
This course examines the impact that the internet has on traditional and contemporary business-to-consumer marketing activities. It explores these implications in both strategic and tactical terms to enhance organizations' levels of competitiveness. The course identifies the use of the internet in enhancing value for consumers and considers the leverage of the latest technologies, trends, e-culture and innovation through the medium of the internet.
|
| MKTG-778 |
Commercialization and Marketing of New Products
This course emphasizes the marketing and product strategy-related activities required to create, develop, and launch successful new products. Topics covered include identifying the market opportunity for new products, defining the product strategy, understanding customer requirements, developing and updating the product business plan, marketing's role in the firm's product development process, developing the marketing plan for launching new products, and managing the product life cycle. The course emphasizes best practices in marketing-related activities required for successful new product commercialization.
|
Admission Requirements
To be considered for admission to the MS program in entrepreneurship and innovative ventures, candidates must fulfill the following requirements:
- Complete a graduate application.
- Hold a baccalaureate degree (or equivalent) from an accredited university or college.
- Submit official transcripts (in English) of all previously completed undergraduate and graduate course work.
- Have a minimum cumulative GPA of 3.25 to have GMAT requirement waived*.
- Submit scores from GMAT or GRE (GMAT preferred). Scores cannot be more than five years old.
- Submit an essay based on one of the following topics: (1) describe an ethical dilemma you have faced and how you resolved it; (2) explain what you have learned from a managerial, leadership, or team experience that was not completely successfully; or (3) describe your greatest professional achievement and how you added value to your organization. The essay should be typed, double-spaced, and two pages in length.
- Submit a current resume or curriculum vitae.
- International applicants whose native language is not English must submit scores from the TOEFL or IELTS exams. A minimum score of 88 on the TOEFL or 6.5 on the IELTS exams is required (requirements on sub-scores on each component of the TOEFL or IELTS may also apply). The English language test score requirement is waived for native speakers of English or for those submitting transcripts from degrees earned at American institutions.
* The GMAT may be waived if an applicant has a GPA of 3.25 or higher, or they can present evidence of professional work experience of six or more years. Students who cannot submit a GMAT, GRE, or one of the two waiver requirements may be considered for admission on a case-by-case basis.
For further information about program specific GMAT/GRE waiver opportunities, tips on personal statements, and additional guidance on how to submit a successful application, please visit Saunders College of Business Admissions Requirements.
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