The Ways Business Graduate School Drives Entrepreneurship

The ultimate goal of an entrepreneur is to take their best idea and transform it into a tangible, successful business. While the image of a plucky dreamer building a startup that grows into a million-dollar success is appealing, it doesn’t quite capture the complexities of the process.

Launching a business venture is incredibly involved. Finding funding, developing a business strategy, conducting research, and building the right team are all crucial steps in taking an idea and turning it into a reality.

Many assume that higher education isn’t necessary to be a successful entrepreneur; in reality, graduate business school can make the path much easier and provide incredible opportunities. The entrepreneurial spirit and drive can’t be taught, but what can be learned are the skills to make quicker, smarter decisions.

As part of the most innovative university in the country, Arizona State University’s W. P. Carey School of Business prides itself on nurturing students’ entrepreneurial mindsets. In programs such as the MBA and its concentration in entrepreneurship, and the Master of Science in Entrepreneurship and Innovation (MS-EI), students learn from experienced business leaders and have the opportunity to put their ideas to the test.

“I’ve been able to be in classes and actually learn from people who have done it and had successful careers, which I think is amazing,” says Kate Fitzgerald, a recent graduate of the MS-EI program.

How An Mba Can Kickstart Your Entrepreneurial Career

An MBA has always been a top option for enhancing leadership skills, often for those looking to make a career pivot or advance within their organization. But for entrepreneurs, this degree can give them the tools to be a strong leader and build their venture from the ground up.

Through a curriculum designed for where the world is headed, the MBA program at W. P. Carey shapes students into transformative leaders. Whatever kind of career graduates decide to pursue, they’ll leave with the knowledge and experience they need to thrive.

“If you’re looking for an ever-evolving MBA program that thinks about entrepreneurship and innovation as a skillset, this is the place for you,” says Hitendra Chaturvedi, professor of practice in the Department of Supply Chain Management, and co-director of the MS-EI program.

Students can customize their MBA experience to suit their career goals by choosing from nine different concentrations, including a concentration in entrepreneurship. This concentration requires students to take a capstone course that covers every aspect of starting a business through real-life examples. Additional courses in topics like finance, negotiation, and venture capital help students develop their mindset as entrepreneurs and build up the skills they need to succeed. Poets&Quants named W. P. Carey as the top MBA program in the U.S. and No. 2 in the world for entrepreneurship.

The Full-time MBA program at W. P. Carey offers an additional benefit in the form of Executive Connections, a mentorship program that pairs students with accomplished professionals from all areas of business.

Current Full-time MBA student Gina Larson spoke highly of her first meeting with her mentor. “Probably within five minutes [of meeting], I was telling Rick [Baer] about the business I was starting, and I said I was looking for someone to help us finish off our business plan. He was jumping out of his seat, saying, ‘Even if we don’t get paired together, please let me help.'”

This is just another example of the strong community that surrounds W. P. Carey and all of its students, and how the benefits of business school stretch beyond coursework.

The MS-EI: An Innovative Program From W. P. Carey

One of the more recent programs W. P. Carey has launched is the Master of Science in Entrepreneurship and Innovation (MS-EI), tailored for those with an entrepreneurial mindset.

In a studio environment, students work in teams to conceptualize and build ideas from the ground up. It’s meant to foster design thinking and learning by doing, and failure is built in as a natural part of the process.

Ayesha Alkatheeri came to the MS-EI through a global partnership between ASU and Khalifa University, located in the United Arab Emirates. When describing her time in the program, she says, “It’s a learning experience. This is something that has been emphasized a lot throughout our program, by our mentors, by our professors, and all of our faculty.”

The curriculum is well-rounded, with classes in supply chain, marketing, and finance — all taught through an entrepreneurial lens. Graduates can leave feeling confident in their general business knowledge, as well as their skills to begin their ventures.

“From conception, to prototyping, to launching something completely novel — the skills learned here have real-world applications,” says recent graduate Santino Sciullo.

Beyond The Classroom

At W. P. Carey, there are a vast number of resources and programs available outside the classroom for entrepreneurial students to get involved with and experiment with their business ideas. “There are so many resources that you have available to you at ASU while having the personal experience of W. P. Carey,” says MBA alumna Denise Napolitano.

The W. P. Carey School’s Center for Entrepreneurship and New Business Design is a hub for the ASU community to explore ideas for new ventures and innovative business solutions. One of its programs is the W. P. Carey Accelerator program, which pairs ASU-affiliated entrepreneurs — including students, faculty, and staff — with experienced mentors and investors for two semesters. It’s designed to help those who are seeking high levels of investment to improve their ventures.

Another opportunity presented by the center is the New Venture Challenge, an annual competition for student entrepreneurs. Participants spend eight weeks developing business models, hearing from guest speakers, and working with mentors to improve their businesses, with the winning team receiving a significant financial investment.

Jeff Watkins won the New Venture Challenge while he was an MBA student with his company, Proper Pack, which provides sustainable alternatives to beer packaging. Of the experience and the benefits of participating, he says, “This seed award has allowed Proper Pack to significantly grow. We’ve invested in building automated packaging equipment, a wide array of new products and designs, and our first batch of inventory to pursue Arizona microbreweries.”

The center also provides the chance for students to connect with alumni who are eager to share their experiences and advice with the next generation, such as MBA alumnus Brennan Lawson, who says, “It’s exciting for me to tap into the mindset of a young entrepreneur who’s more interested in entrepreneurship than working at Intel or Amazon.”

Students also get to work with other schools within ASU to gain cross-disciplinary experience and knowledge, as the center partners with the Ira A. Fulton Schools of Engineering and the Herberger Institute for Design and the Arts.

A great idea cannot lead to a successful business venture on its own. An entrepreneur also needs the right mindset, skills, and community to succeed.

A graduate business education can prepare an aspiring entrepreneur for the realities of launching a business. At ASU’s W. P. Carey School of Business, students find innovative educational programs, numerous resources, and a tight-knit community that wants to help them reach their goals.

Discover how a graduate business degree from W. P. Carey can help bring your venture to life.

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The W. P. Carey School of Business at Arizona State University is the largest business school in the United States, with more than 23,000 undergraduate and graduate students — and 130,000+ alumni around the world. There are more than 60 ways to earn a W. P. Carey degree, including our first-of-its-kind master’s in AI in business. Entrepreneurship and innovation are key to our curriculum and your experience.

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