MBA in Innovation and Entrepreneurship- Scope and Career Opportunities
Career opportunities following an MBA in Innovation and Entrepreneurship abound. This program nurtures skills in generating creative ideas, identifying business opportunities, assessing strengths and weaknesses, and taking calculated risks in a professional capacity. Specializing in Innovation and Entrepreneurship facilitates a smoother journey, providing students with insights into the lives of successful billionaires and entrepreneurs.
Setting itself apart from similar programs in traditional business schools, the MBA in Innovation and Entrepreneurship originates from a design school, providing students with a unique perspective on innovation and entrepreneurship. Additionally, its deep integration with the Atal Incubation Centre, Institution Innovation Council, and CRIEYA at MIT ADT University offers students unparalleled access to entrepreneurial resources, ensuring they are well-prepared for promising futures. This blog covers the future scope of the MBA in Innovation and Entrepreneurship degree from MIT ID Innovation.
Scope of MBA in Innovation and Entrepreneurship
The realm of MBA in Innovation and Entrepreneurship is dynamic, promising, and continuously evolving. Graduates delve into various avenues, such as the investment sector, where they assess startups and innovative ventures for potential investments and aid in their growth. Additionally, individuals harbouring entrepreneurial aspirations can embark on their ventures, exploring innovative ideas.
For those inclined towards academia or research, pursuing a PhD post-MBA opens avenues as academicians or researchers. The scope of an MBA in Innovation and Entrepreneurship transcends industry boundaries, encompassing technology, healthcare, finance, education, and more.
Career Options after an MBA in Innovation and Entrepreneurship
Career pathways post completing an MBA in Innovation and Entrepreneurship are varied, leveraging skills acquired during the program across industries. Graduates can tailor their careers based on personal interests, strengths, and available opportunities, locally or globally. Whether aspiring to be startup founders, corporate innovators, or specialized entrepreneurs, this specialization equips individuals with knowledge and skills vital for navigating the dynamic business environment. Some of the top recruiters of MBA in Innovation & Entrepreneurship graduates are JP Morgan, Google, Accenture, EY, BCG, Deloitte, Apple, Adobe, etc. Below are some career options for MBA Innovation and Entrepreneurship graduates:
Business Development Managers:
Focus on identifying new business opportunities, strategic partnerships, and emerging markets.
Corporate Managers:
Oversee various aspects of company operations to achieve organizational goals.
Product Managers:
Drive product development, strategy, and lifecycle, ensuring innovation and success.
Management Consultants:
Offer expert advice to improve organizational performance and efficiency.
Brand Managers:
Develop and maintain brand image and identity, create marketing strategies, and align the brand message with the target audience.
Salary Packages for MBA in Innovation and Entrepreneurship
In this field, salaries grow with experience and skills. In India, holding an MBA in Innovation and Entrepreneurship can yield salaries ranging from INR 5-20 LPA. Career prospects and job roles for MBA graduates in Entrepreneurship include:
Note: Salaries are subject to change and as per Glassdoor.
Government Jobs for MBA in Innovation and Entrepreneurship Students
The typical salary range for MBA graduates in Innovation and Entrepreneurship is INR 5 to 18 LPA. Job opportunities for MBA in Entrepreneurship include:
Other government sector job opportunities for MBA graduates in Innovation and Entrepreneurship include:
- Bank Officer
- Finance Officer
- Accountant
- Bank Branch Manager
- Credit Manager
- Revenue Analyst
- Development Manager
- Revenue Inspector
Private Jobs for MBA in Innovation and Entrepreneurship
The salary for MBA graduates in Entrepreneurship varies from INR 3 to 20 LPA. The employment prospects for MBA graduates in Entrepreneurship in India are high, particularly in private companies, as many aspire to establish their ventures. Some job titles include:
Here are the leading private firms recruiting MBA graduates in Entrepreneurship:
- Amazon
- Flipkart
- eBay
- HPE
- CTS
- Accenture
- ICICI
- HDFC
- SBI
- IBM
- L & T
Job Opportunities Overseas for MBA in Entrepreneurship
MBA in Entrepreneurship positions abroad span diverse industries globally. The scope of an MBA in Entrepreneurship has broadened, encouraging individuals to innovate and launch ventures. Today, entrepreneurship plays a crucial role in fostering economic growth and establishing revenue-generating frameworks.
Leading Companies
Here are some top companies:
- Amazon
- Zoho
- Gravity
- Whirlpool
- Venture Storm
- Preferred Countries
By pursuing a postgraduate degree in Entrepreneurship, students acquire varied entrepreneurial techniques and principles. MBA programs in Entrepreneurship attract individuals deeply interested in economics, management, and leadership. Graduates or prospective entrepreneurs can explore career opportunities in countries such as the UK, Canada, USA, Australia, and Nigeria.
Career Titles Abroad for MBA in Innovation Entrepreneurship Graduates
Here’s a range of roles that appeal to MBA in Entrepreneurship graduates looking to build their careers abroad:
- Department Manager
- Corporate Supervisor
- Business Consultant
- Sales Manager
- New Venture Developer
- Marketing Manager
- Senior Technical Recruiter
- Associate Director
- Sales and Marketing Head
- Customer Service Representative
Notable MBA Entrepreneurs
Entrepreneurs are individuals who independently start and manage businesses, navigating risks and challenges while achieving recognition. These entrepreneurs exhibit creativity, innovation, and resilience. Here are some notable entrepreneurs who have made significant contributions:
- Dhirubhai Ambani
- Jehangir Ratanji Dadabhoy Tata
- Nagavara Ramarao Narayana Murthy
- Shiv Nadar
- Lakshmi Niwas Mittal
- Ghanshyam Das Birla
Frequently Asked Questions (FAQs)
The Entrepreneurship and Innovation concentration equips MBA students with the necessary skills, analytical frameworks, perspectives, and hands-on experiences to thrive as independent entrepreneurs, family business leaders, or corporate innovators.
The decision to choose a course hinges on the candidate’s career aspirations and personal interests. While an MBA offers a comprehensive business education, an MBA in Innovation focuses specifically on imparting skills in innovation, creativity, and entrepreneurship.
An MBA in Entrepreneurship provides students with skills designed for startups and business innovation. Graduates can pursue various job opportunities in the entrepreneurial field, such as business consultants, sales managers, product managers, marketing analysts, or even venture founders.
According to GMAC’s Prospective Student Survey 2023, half of the respondents expressed a preference for a business degree concentrating on entrepreneurship or innovation. The study of innovation is a vital component of business administration curricula, available to students in various management programs across India.
Salaries in this sector rise with experience and expertise. In India, individuals with an MBA in Entrepreneurship can earn salaries ranging from INR 3-5 LPA. Career prospects and job roles for MBA in Entrepreneurship graduates vary, with standard salaries ranging from INR 3.5 to 18 LPA.
