B-Schools Expand Entrepreneurship MBA Programs

Bloomberg recently published an interesting article on entrepreneurship programs in business schools, “Business Schools Aim to Build Entrepreneurs With Expanded Programs.”

The article discusses the trend of business schools creating or expanding their entrepreneurship programs as students increasingly express an interest in starting their own ventures. According to David Schonthal, director of entrepreneurship programs at Kellogg School of Management, “Over 70% of our students will take entrepreneurship classes at Kellogg, which to me indicates an interest, at least at the high level.”

Not surprisingly, Kellogg is expanding its Zell Fellows program, which supports students in starting or acquiring their businesses, and recently received a $25 million donation from the Zell Family Foundation to sustain the program in perpetuity.

Other business schools are also developing or expanding entrepreneurship initiatives as students look to pick up entrepreneurial skills to meet the uncertainty of the future job market, given the evolving nature of work and uncertainty of how AI will affect job availability. These programs aim to equip future founders with a full set of skills specific to creating a successful start-up, including a network of potential partners and access to investors.

The article features testimonials from alumni who credit their entrepreneurship programs for providing valuable skills, connections, and support. However, the question of whether business school is necessary for entrepreneurship remains, with some suggesting that the decision depends on individual circumstances. While top-ranked MBA programs may offer positive financial propositions, the cost and lost earnings might pose obstacles for others.

Despite differing opinions on the necessity of business school for entrepreneurs, the article highlights the positive impact these programs have had on graduates, emphasizing the development of flexibility, networking opportunities, and the freedom to create.

If you’re interested in starting up a company after your MBA, click here and read the Bloomberg article, and here for US News’ ranking of the best Entrepreneurship MBA programs in 2023. Let us help you win admission to the program of your dreams — contact us and speak with one of our expert coaches!