Nurturing MBA in Innovation & Entrepreneurship at MIT Pune
The MBA in Innovation & Entrepreneurship at MIT Pune spans two years and caters to the contemporary innovator. Distinguished from conventional business school curricula, this distinctive initiative from MIT ID Innovation emanates from a design school, offering students a novel outlook on entrepreneurship and innovation. Through this program, you’ll cultivate an entrepreneurial mindset and adeptly apply design thinking, creativity, and innovation to address real-world problems.
What is an MBA in Innovation and Entrepreneurship?
The MBA program in Innovation & Entrepreneurship is a traditional two-year Master of Business Administration (MBA) course. Obtaining this degree involves completing a thorough MBA core curriculum along with supplementary non-core courses that delve into entrepreneurship subjects such as venture capital and small business management. This multidisciplinary focus is intended to furnish graduates with the necessary skills to initiate their own ventures, encompassing everything from formulating viable business plans to managing global business endeavours. Through a combination of conventional lectures, case studies, and project-oriented assignments, students culminate their studies by crafting a business model or business plan in their capstone course.
Studying MBA in Innovation & Entrepreneurship at MIT Pune
MIT ID Innovation is a part of MIT Pune and offers an MBA in Innovation & Entrepreneurship. Its strong integration with the Atal Incubation Centre, Institution Innovation Council, and CRIEYA at MIT ADT University offers students unparalleled access to entrepreneurial resources. In line with the NEP 2020, this program enables students to opt out after one year with a PG Diploma in Innovation.
Why Choose MIT Pune?
At MIT Pune, students learn from industry giants and engaging in innovative projects with our state-of-the-art incubators, students gain invaluable insights and practical skills in entrepreneurship and innovation. Our program is structured to help students build their brand know-how and equip them with the tools needed to land their dream job upon completion. With a focus on experiential learning and real-world application, MIT Pune ensures that graduates are well-prepared to excel in various fields, including technology, healthcare, sustainability, and social entrepreneurship.
Admissions 2024- 2025
Numerous business schools provide MBA programs specializing in Innovation & Entrepreneurship within various degree or diploma offerings. MIT ID Innovation, for instance, features its flagship MBA program in Innovation & Entrepreneurship, spanning four semesters across two years. The application window for the academic year 2024-2025 is open on MID ID Innovation’s official website. Each business school has specific criteria for evaluating and admitting students. Admissions to MIT ID Innovation are highly competitive, with only 60 seats available for the program. Before applying, it is essential to review the eligibility requirements, which include holding a bachelor’s degree from a recognized institution with a minimum aggregate of 50%.
Prospective students can apply to MIT ID Innovation by completing and submitting the MIT ID – DAT APPLICATION form. Alternatively, they can apply through a valid CAT/MAT/XAT/CEED/MIT DAT score and subsequently participate in an interview for admissions. The selection process involves submitting a Statement of Purpose (SOP) and Essay, followed by an interview as part of the admission procedure.
Syllabus
At MIT ID Innovation, the curriculum spans four semesters over two years, systematically enhancing students’ entrepreneurial capabilities. In the initial semester, Formation, aspiring entrepreneurs embark on their journey, engaging in ideation, formulating business models, prototyping minimum viable products, and mapping opportunities. This immersive process involves not only theoretical knowledge acquisition but also its practical application using advanced software tools. In the subsequent semester, students delve into subjects preparing them for leadership roles, covering legal operations and offering real-world internship opportunities.
Transitioning into the third semester, students explore business fundamentals, navigating legal intricacies of intellectual property, financial principles, marketing strategies, and global perspectives integrating cultural nuances. The final semester concentrates on mastering innovation and entrepreneurship intricacies, culminating in crafting a comprehensive business plan. Throughout, students benefit from continuous access to an extensive network of entrepreneurs, investors, and progressive companies, facilitated by robust industry partnerships.
In the Capstone Project/Startup Pitching/Business Plan segment, students consolidate their learning, exhibiting entrepreneurial skills through a comprehensive business plan or startup pitch. This phase enables students to showcase their entrepreneurial acumen, strategic thinking, and innovative solutions aimed at real-world impact.
Key subjects in the MBA in Innovation & Entrepreneurship program include:
- Innovation Fundamentals
- Design Methods & Processes
- Managerial Economics
- Legal Aspects of Business
- Marketing
- Finance/Fundraising
- IPR (Intellectual Property Rights)
- Organizational Behavior/Team Building
- Project Management
- Global Business
Career Opportunities & Recruiters of an MBA in Innovation and Entrepreneurship
Post completing an MBA in Innovation and Entrepreneurship, career pathways diversify, leveraging acquired skills across industries. Graduates can customize their careers based on personal interests, strengths, and available opportunities, either locally or globally. Whether aspiring to become startup founders, corporate innovators, or specialized entrepreneurs, this specialization furnishes individuals with vital knowledge and skills for navigating the dynamic business landscape. Notable recruiters for MBA in Innovation & Entrepreneurship graduates include JP Morgan, Google, Accenture, EY, BCG, Deloitte, Apple, and Adobe. Below are several career options for MBA Innovation and Entrepreneurship graduates:
- Business Development Managers: Specialize in identifying new business prospects, strategic partnerships, and emerging markets.
- Corporate Managers: Oversee various facets of company operations to attain organizational objectives.
- Product Managers: Lead product development, strategy, and lifecycle, ensuring innovation and success.
- Management Consultants: Provide expert counsel to enhance organizational performance and efficiency.
- Brand Managers: Craft and maintain brand image and identity, devise marketing strategies and align brand messaging with target audiences.
Recruiters
The highest package drawn from MIT ID Innovation for our MBA program is INR 16 LPA, average is INR 8 LPA, and the minimum is INR 6 LPA. The most prominent recruiters were Google, Adobe, Makemytrip, Adobe, Infosys, IBM, SAP, pwc, Panasonic, Microsoft etc.
Testimonials
MBA in Innovation and Entrepreneurship program at MIT ID Innovation testimonials echo the sentiments of transformation and unparalleled learning experiences. The alumni appreciate the curriculum of the program which is a blend of theoretical knowledge and practical application which provides them much-needed skills to thrive. Many of these also express gratitude for the program’s emphasis on real-world projects, faculty’s expertise, industry collaborations, and access to cutting-edge resources, which have been instrumental in shaping their entrepreneurial journeys.
Frequently Asked Questions (FAQs)
Securing admission to MIT ID Innovation is highly competitive due to the limited 60 seats available for the program. Applicants must complete and submit the MIT ID – DAT APPLICATION form and undergo an interview. The selection procedure also involves submitting a Statement of Purpose (SOP) and Essay.
Prior to applying, it is essential to review the eligibility criteria, which require a bachelor’s degree from a recognized institution with a minimum aggregate of 50%. Following this, applicants can apply to MIT ID Innovation by completing and submitting the MIT ID – DAT APPLICATION form. Alternatively, they may apply through a valid CAT/MAT/XAT/CEED/MIT DAT score.
Upon completing an MBA in Innovation and Entrepreneurship, graduates have opportunities across diverse sectors such as technology, healthcare, sustainability, and social entrepreneurship. Salary post-MBA hinges on factors like experience, job position, employer, and location.
The fees for an MBA program in Innovation and Entrepreneurship are influenced by several factors, such as the college’s academic and placement track record, its location, and the facilities it offers. The typical fee for an MBA in Innovation and Entrepreneurship is INR 12 lakhs in total for two years.
