I chose to pursue my MBA because I knew that I wanted to start my own production company. My goal was to develop ideas for content in different forms of media and manage the business plans for those concepts on my own, without giving up that power to someone else. While looking for MBA programs in entrepreneurship, I discovered the gem that is the Babson Olin School of Business. . Although I ultimately did not attend Babson (I chose the Yale School of Management), I have continued to be impressed by the quality of Babson’s entrepreneurship resources.
Babson is one of many MBA programs to excel in entrepreneurship. Several schools have focused on entrepreneurial pursuits for decades, while others have been increasing their offerings in recent years. New technologies make starting a new venture more accessible, and our ever-changing world constantly creates new needs. Therefore, it is even more important to gain the skills needed to increase the likelihood of success for your venture. So, where should one with entrepreneurial pursuits look to apply in the current climate? Here are 12 of the best business schools for entrepreneurship:
- Babson Olin School of Business is perennially ranked #1 in entrepreneurship by U.S. News & World Report and is well regarded in other publications. Babson offers a concentration in Entrepreneurship, and several centers on campus provide varied resources for different forms of enterprise development. For instance, the Blank Center for Entrepreneurship is an accelerator for new ventures; the Frank & Eileen™ Center for Women’s Entrepreneurial Leadership prepares students to create social and economic impact; the Bertarelli Institute for Family Entrepreneurship empowers family businesses to grow and succeed; and the Institute for Social Innovation inspires social innovation while advancing UN Global Goals.
- Berkeley Haas offers a wide range of entrepreneurship courses as part of the Berkeley Haas Entrepreneurship Program. Furthermore, students can seek seed funding through the Berkeley Haas Student Seed Fund or access resources to start a business through LAUNCH Accelerator, along with various other student resources.
- Columbia Business School is no stranger to the top of rankings, regardless of the topic, so it’s no surprise that the program offers many resources for entrepreneurs. Students can leverage the Columbia Build Lab to launch a startup and the Eugene M. Lang Entrepreneurship Center to solve various problems across all aspects of startups and small businesses.
- Harvard Business School (HBS) highlights its legacy of entrepreneurship and its global mindset as differentiators in the school’s entrepreneurial offerings. The Arthur Rock Center for Entrepreneurship touts, “we challenge our students and alumni to dream things that never were and ask, ‘Why not?’” The Center accomplishes this through the annual New Venture Competition (which has a Business Track and a Social Enterprise Track), Entrepreneurs-in-Residence (business leaders who visit the HBS campus to meet with students and conduct research with faculty), and Rock Summer Fellows (where students can secure funding to join existing ventures or start their own).
- Indiana University Kelley School of Business offers an Entrepreneurship and Corporate Innovation MBA major or minor, within which students can follow one of the following paths: corporate innovation, venture capital, or independent venture creation path. Meanwhile, the school’s Entrepreneurial Innovation Academy gives students tools to start a venture, help grow a small business, or innovate within a corporate structure.
- MIT Sloan refers to its community as “the rule breakers who embrace intellectual discovery,” and the school’s entrepreneurship courses help teach students to simplify complexity. Sloan’s Entrepreneurship Lab matches students with curated startups to discover how to solve strategic problems, while its Global Entrepreneurship Lab aims to tackle 21st century problems on a global scale.
- Michigan Ross has had entrepreneurship in its DNA since the school’s founding in 1924. Ross has more student-run funds than any other MBA program, and its curriculum can prepare students for either the entrepreneurship path or the venture capital path. Furthermore, the Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies pledges to “immerse students in entrepreneurial environments where they create, lead, and shape innovative ventures.”
- Rice Jones Graduate School of Business considers entrepreneurship more than a curriculum; it’s a mindset. The Liu Idea Lab for Innovation and Entrepreneurship houses the school’s experiential learning and co-curricular activities involving entrepreneurship, including various courses dedicated to the discipline.
- Stanford GSB saw 25% of its Class of 2023 starting or running their own business. Undoubtedly, these students utilized the more than 100 entrepreneurship courses offered throughout the university to help prepare them for their endeavors. One of the signature courses is “Startup Garage,” a project-based course focusing on design thinking, engineering, finance, and business organization. The Stanford Venture Studio is a new venture hub for any graduate student in need of resources and expertise.
- University of Texas at Austin McCombs School of Business offers the Herb Kelleher Entrepreneurship Center, which is one of the school’s several centers and initiatives dedicated to teaching students the necessary skills to start their own ventures. Also of note are the Kendra Scott Women’s Entrepreneurial Leadership Institute, which teaches students to embrace entrepreneurship from a woman’s perspective, and the Jon Brumley Texas Venture Labs, which is the school’s accelerator program.
- Wharton offers the MBA Entrepreneurship and Innovation major, which prepares students “for careers as autonomous entrepreneurs, family-business entrepreneurs, or entrepreneurs in corporate settings.” Entrepreneurship and Innovation is one of Wharton’s various Research Pillars, whereby faculty researches how new technology, products, and models impact the corporate ecosystem. The Venture Lab offers tailored programming across five pathways, while the Wharton Global Family Alliance has partnered with the CCC Alliance to allow family firms to collaborate globally to solve problems related to family business and wealth management.
- Yale School of Management (SOM) is perhaps not as well-known as the other programs on this list for its entrepreneurial strengths, but my alma mater has been beefing up its offerings in recent years. Where SOM’s mission is “to educate leaders for business and society,” the school’s Program on Entrepreneurship, launched in 2014, slightly alters that mission to “creating entrepreneurs for business and society.” The Yale SOM Entrepreneurship Fellowship allows students to defer repayment on student loans for two years following graduation, with the fellowship paying the interest during that time period, to help students launch their ventures in the critical, early stages. The Yale Entrepreneurial Society is a university-wide nonprofit that supports innovation and entrepreneurship.
Launching a business, regardless of industry, is a difficult and risky endeavor. These schools help to mitigate the risk and provide the tools and expertise to make your idea a reality. Whichever school you choose, you will be ready and able to take that leap of faith into the startup world!
An MBA is a very personal endeavor. Take the time to be thoughtful and strategic about your application. If you’re looking for a coach to help you navigate the complex and competitive MBA application landscape—and a team to champion you along the way—reach out for a free 30-minute consultation. All of Stratus’s counselors have degrees from top MBA programs and would love to support you in your next phase in life!