Master
Innovation and Entrepreneurship

Master Innovation and Entrepreneurship (M.A.)

Would you like to form a company and acquire the fundamental basics needed for a successful start-up? Or would you like to advance forward-looking fields after your Master and be a driving force for innovation as well as entrepreneurial thinking and action? If so, then the MBS program Master Innovation and Entrepreneurship is your first step towards success. This program will provide you with advanced economic knowledge, it will allow you to develop entrepreneurial thinking as well as equip you with the most important skills and tools to put your innovative ideas into practice - in a company as well as when starting your own business.

Your Master Master Innovation and Entrepreneurship at MBS

Your own start-up: Your dream is to become a founder? In the 3rd semester, you have the option of working on your own start-up. During the project, you will receive comprehensive support and coaching from lecturers.

Personal Support: Students at MBS learn in small and interactive courses. They are in direct and continuous exchange with the lecturers and receive individual support through a mentoring program.

Location Munich: Munich as a business location and the entire region offers students and graduates the best career opportunities. German global companies such as BMW, Allianz and Siemens have their headquarters in Munich, global players such as Microsoft, Intel and Sun Microsystems and also numerous start-ups appreciate the advantages of this location.

"Innovative ideas and entrepreneurial thinking and acting are especially important in times of great challenges. Successful new products and business models often arise out of necessity - whether to secure sales, give employees a perspective or contribute directly to solving global problems. This requires people who tackle things and make lasting changes. The Master's degree in Innovation and Entrepreneurship prepares our students well for this."

Prof. Dr. Anne Tryba
Academic Director Master Innovation and Entrepreneurship

Key Facts
Master Innovation and Entrepreneurship

Programstart
September
Language
English
Duration Single Degree
18 months
Duration Dual Degree
24 months
Format
Full-time
Tuition Fee
24,000 Euro
Scholarships
10% to 50% reduction on semester 1 and 2
Final Degree
Master of Arts (M.A.)

What our students say about us

Mariam Ghlonti (Master IE)
Mariam Ghlonti (Master IE)

During my studies I learned a lot about creating business plans, pitching ideas and conducting market research.

 

I was able to apply design thinking methods in several innovative business development projects. I am especially proud of a project in collaboration with Uber. On behalf of the company, my team and I developed an additional service/business idea for the app and created a functional prototype for it with Figma.

Polina Giricheva (Master IE)
Polina Giricheva (Master IE)

The start-up project showed me how it feels to be an entrepreneur, which challenges you face and what kind of personal rewards you gain through this experience.

The project taught me that there are many factors that are decisive for the success of your idea: the right timing, knowing customers’ needs, leveraging the ecosystem and building networks, a realistic approach, meeting legal requirements, a clear vision, and a bit of luck.

Caroline Baumann (Master IE)
Caroline Baumann (Master IE)

I especially like the prospective orientation of the topics as well as the close cooperation with companies. MBS prepares very well for working life.

Experienced lecturers as well as regular guest lectures provide direct and valuable insights into practice. For me, this has resulted in a great career opportunity: After my internship and master's thesis in the CEO Office at one of the "Big Four" companies, I will start my career there as Consultant after graduation.

Career
Opportunities

What will I do after my studies? Which doors are open to me? In which professions do graduates of the Master Innovation and Entrepreneurship actually work? For an overview of the diverse career opportunities offered by the Master Innovation and Entrepreneurship, we present possible job profiles here.

Founder of an own start-up
Founder of an own start-up

What's the job? 

You start your own start-up, either alone or in a team, and build it up from the initial business idea to a marketable product. In addition to product development, you will also be responsible for recruiting and managing employees, building networks and partnerships, securing financing and guaranteeing long-term growth. 

The following course contents in the Master's program will prepare you for this: 

  • Entrepreneurial Strategies
  • Ideation, Pitching & Prototyping
  • Business Modelling & Planning
  • Resource Aquisition
  • Scaling Start-ups
  • Social & Sustainable Entrepreneurship
Employee in an (international) company
Employee in an (international) company

What's the job?

Even in already established companies, students of the Master Innovation and Entrepreneurship are in demand. In the fields of Corporate Innovation, Corporate Entrepreneurship, Strategy or Business Development, you will act as an innovation driver, identify and develop new products and business ideas, establish an innovation culture or initiate cooperation with innovative start-ups. In this way, you will ensure the future viability of the Group. 

The following course contents in the Master's program will prepare you for this: 

  • Corporate Entrepreneurship
  • Open Innovation
  • Innovation & New Product Development Strategies
  • Managing and Deploying Innovation Projects
  • Innovation Branding, Marketing & Sales
Employee in a start-up or start-up ecosystem
Employee in a start-up or start-up ecosystem

What's the job? 

You don't want to start your own start-up, but still want to be active in the start-up scene? Join an existing start-up and make an important contribution to establishing it in the market, to grow more strongly and to expand internationally. Or work in an incubator/accelerator and support start-ups in implementing their ideas, scaling up, acquiring the necessary resources and establishing contacts with investors, customers and partners. Or, as an investor, evaluate up-and-coming start-ups and help to secure their financing (private equity, venture capital). 

The following course contents in the Master's program will prepare you for this: 

  • Entrepreneurial Support Systems, Teams & Networks
  • Growth & Exit Strategies
  • Design Thinking & Lean Start-up
  • Entrepreneurial Finance
  • Protecting Innovation and Intellectual Property
Entry/Takeover of Family Business
Entry/Takeover of Family Business

What's the job?

You have grown up with the family business of your parents or other relatives and are now planning to join the company. For a sustainable and successful takeover, it is important to know the operative business and the areas of the company and at the same time to have an eye on the challenges of the future. With the necessary overview and foresight, you will recognize innovations, drive change projects forward and introduce them into existing structures. In this way, you will ensure the future viability of the Group in the next generation and ensure that your family business can continue to provide innovative impetus. 

The following course contents in the Master's program will prepare you for this: 

  • Firm Capabilities and Approaches Facilitating Innovation and New Product Development
  • Growth and Turnaround Strategies
  • Organizing for Innovation
  • Evaluating and Choosing Innovation Projects
  • Succession and Exit Planning
Consultant
Consultant

What's the job? 

As a consultant in strategy and innovation consulting, you will advise companies and start-ups on various questions and problems. You know what needs to be considered when founding and developing a start-up, understand how companies need to change, are familiar with current technological trends and drive innovative processes, changes and decisions. For the job as a consultant, an entrepreneurial spirit is particularly required: you are innovative, curious, creative and always looking for new approaches and solutions. 

The following course contents in the Master's program will prepare you for this: 

  • Entrepreneurial Mindset and Decision-Making
  • Technology Trends
  • Collaboration Strategies & Customer/User Interaction
  • Fundamentals of Digital Marketing Mix
  • Innovation and Entrepreneurship in International Contexts

Our
Master IE in Numbers

15-20
Students per group

60
International Partner Universities

4:1
Student to Faculty Ratio

100%
Business Hotspot Munich

21-32
Age range

57 %
International Students

Contents

Core Modules

The Core Modules of the master’s program convey knowledge and skills on general topic areas of business. Courses on international management, business communication, responsible management, and your international focus – which you are free to choose – will give you an understanding of economic interrelations in a globalized and multicultural world. The courses will encourage you to engage and critically analyze a range of topics, helping you to get to grips with practical methodologies and models. The Core Modules are interdisciplinary, so that you can exchange ideas with students from other Master's programs and work together on joint projects.

Electives

You round off your profile by completing the Electives, your personal elective courses. Here you have the opportunity to enrich your Master Innovation and Entrepreneurship with an individual component, for example by taking courses on Social Entrepreneurship, Technology Trends or "Success Factor Happiness" or by working on a research project.

Course of Studies Master Innovation and Entrepreneurship

SEMESTER 1

INNOVATION & ENTREPRENEURSHIP MODULES

Innovation & Entrepreneurship: Strategy and Business Design (6 ECTS)

Sub-Modules:

Entrepreneurial Mindset and Business Design

Innovation Strategy

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  • Learn how to act with an entrepreneurial and innovator’s mindset and to leverage ecosystems and available resources.
  • Identify opportunities of sustainable, social, corporate, academic, public, and family entrepreneurship and apply adequate entrepreneurial strategies.
  • Learn how to manage cultural, behavioral, organizational, international, collaborative, technological, and personal factors impacting innovation.
  • Apply strategies to implement innovation and new product development fitting the specific context.
Ideation and Prototyping (6 ECTS)

Sub-Modules:

Ideation, Design Thinking & Prototyping I

Lean Startup, Usability Testing & Prototyping II

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  • Apply design thinking, the lean startup approach, and hypothesis-driven experimentation to identify, analyze, and solve a key problem.
  • Experience creativity and storytelling techniques, apply business modeling and practice your successful pitch.
  • Get familiar with the principles of user experiences and interfaces, prototyping metrics, and agile development, and apply usability testing tools and techniques.
  • Actively participate in a Google Design Sprint to solve a real company challenge.
Innovation and Entrepreneurship Business Project (3 ECTS)

Work independently in small teams on a real project for a startup/an established innovative company throughout semester 1 and 2:

  • Define project content, working modes, and objectives in collaboration with the business partner.
  • Benefit from guidance and continuous supervision of MBS professors.
  • Receive training in e.g., professional collaboration and project management, structured problem solving, and sound market analysis.

INTERNATIONAL BUSINESS & MANAGEMENT MODULES

International Business and Management (6 ECTS)

Sub-Modules:

International Strategic Management

Organizational Behavior

Conscious Business

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  • Learn about the drivers of globalization, related strategic models, and how to apply them in business operations.
  • Study the relationships between individual, organization, and society and reasons for behaviors in organizations.
  • Develop an understanding for alternative business practices compared to traditional profit orientation as the core goal of a business based on the four tenets of Conscious Capitalism as well as best practices in the field of Conscious Business.
International Focus (3 ECTS)

Choose 1 out of 3

  • Business in Germany
  • Business in Latin America
  • Business in China

Gain insights into business practices and current business topics in the chosen region based on an understanding of the social background as well as the economic and political system in the respective region.

Languages (Optional) (3 ECTS)

Choose 1 out of 3:

  • Spanish
  • Chinese
  • German

Depending on the level, learn the appropriate grammar and vocabulary skills to advance to the next level of language proficiency.

EXECUTIVE SKILLS

Communication in International Business (6 ECTS)

Sub-Modules:

Business Communication

Business Ethics

Negotiation Skills

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  • Identify and master the challenges of business communication particularly in an international and intercultural context.
  • Study and discuss topical and controversial business ethics issues as well as the philosophical origins of ethics.
  • Learn how to use effective communication skills as well as manage the human behavior dynamics in the negotiation process.
MBS Engagement

Feel a stronger sense of belonging to the MBS community by actively engaging in a variety of extracurricular offerings.

Semester 2

INNOVATION & ENTREPRENEURSHIP MODULES

Innovation and Business Creation and Management (6 ECTS)

Sub-Modules:

Resource Acquisition

Innovation Branding, Marketing, & Sales

Business Planning

-------------

  • Identify and prepare all activities and resources for creating a new venture ensuring funding, business operation, human capital acquisition, and IP protection.
  • Evaluate, write, and pitch a business plan for creating a new venture.
  • Develop a branding strategy, concept, and plan for innovation and learn how to create, implement, and test digital marketing campaigns for innovations.
  • Learn techniques for internal and external innovation storytelling and get to know how to establish sales channels for innovations.
Scaling Startups and Innovation Projects (6 ECTS)

Sub-Modules:

Open & Sustainable Innovation

Managing Innovation Projects

Scaling Startups

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  • Learn how to evaluate, manage, and implement open and closed innovation activities and strategies and participate in an open innovation challenge.
  • Practically apply how to Identify, assess, and realize sustainable innovation activities and tactics.
  • Acquire experiences in scaling startups, managing business growth, and preparing exit strategies and turnarounds, and learn how to deal with failure and bankruptcy.
  • Learn how to detect, evaluate, choose and manage innovation projects and new project development in organizations.
Electives (6 ECTS)

Choose 2 out of 4:

  • Technology Trends
    Learn how to identify and analyze technology trends and their implications for management and society and practically create use cases, strategies, and business models.
  • Understanding Social Startups
    Learn about the implications of social entrepreneurship and practically experience how to develop social business models, scale social impact, and measure social performance.
  • Independent Research Project
    Learn how to and develop a scientific paper, publication, working paper (or similar) on a self-chosen research topic in consultation with a faculty mentor.
  • Success Factor Happiness
    Personally experience the concepts of happiness, mindfulness, higher purpose, compassion, and gratitude through specific exercises and learn from best practices how to apply them in a work environment to increase (among others) subjective well-being, health, productivity, and satisfaction and decrease stress.
Innovation and Entrepreneurship Business Project (3 ECTS)

Work independently in small teams on a real project for a startup/an established innovative company throughout semester 1 and 2:

  • Define project content, working modes, and objectives in collaboration with the business partner
  • Benefit from guidance and continuous supervision of MBS professors
  • Receive training in e.g., professional collaboration and project management, structured problem solving, and sound market analysis

INTERNATIONAL BUSINESS & MANAGEMENT MODULES

International Focus (3 ECTS)

Choose 1 out of 5:

  • Business in Europe
  • Business in Latin America
  • Business in China
  • Business in USA and Canada
  • Business in Emerging Economies (India, Africa)

Use case studies, business simulations, in-depth reports as well as expert knowledge to understand the complexities of the business environment in the chosen region from a cultural, economic, social, political, and legal perspective.

Languages (Optional) (3 ECTS)

Choose 1 out of 3:

  • Spanish
  • Chinese
  • German

Depending on the level, learn the appropriate grammar and vocabulary skills to advance to the next level of language proficiency.

EXECUTIVE SKILLS MODULES

Responsible Leadership in a Global Context (5 ECTS)

Sub-Modules:

Responsible Leadership

Business & Society

Master Thesis Preparation

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  • Learn how to lead and manage people in business in a responsible way, including how to motivate and support people depending on the given circumstances, personality, and culture.
  • Get familiar with the origin and development of different cultural core beliefs, value systems and how they define business practices from a top management perspective.
  • Learn how to collect, evaluate, assess and present the state of the art in the academic discipline regarding a specific research question.
MBS Engagement (1 ECTS)

Feel a stronger sense of belonging to the MBS community by actively engaging in a variety of extracurricular offerings.

Semester 3

Selection (min. 15 ECTS)

For your third semester in the Master Innovation and Entrepreneurship you have three different options. You set the focus yourself.

Semester Abroad
Semester Abroad

Students of the Master Innovation and Entrepreneurship have the opportunity to spend their third semester abroad at one of our numerous international partner universities.

During the semester abroad you will gain extensive international experience and develop your intercultural skills. Alternatively, students can spend two semesters at selected universities and complete their studies with a dual degree.

Start-up Project
Start-up Project

Alternatively, you can also use the time to work on your own start-up. During the start-up project, you will be comprehensively supported and continuously coached by MBS lecturers:

Depending on the progress of your start-up idea, you will either deal with your strategy, finalize the business plan and pitch deck, establish contacts with important stakeholders, prepare your product or idea for market entry or further develop your existing start-up.

Internship
Internship

Have you already studied or worked in a non-German speaking country for at least one year at a time?

If so, you also have the option of completing a specialist internship in a company in Germany, Austria or German-speaking Switzerland. The duration of the internship is at least 15 weeks.

Master Thesis (15 ECTS)

Last but not least: writing you Master Thesis

Business
Project

Business Project

It's not just a theory. During the Business Project in the Master Innovation and Entrepreneurship program, you will work on a concrete, practice-relevant project over a period of two semesters on behalf of and together with a start-up, a company from the start-up ecosystem (e.g. Investor, Accelerator) or the innovation department of an established company (e.g. group, family business) in a team. This will give you a better understanding of the internal processes and structures of the start-up/company and at the same time give you the opportunity to apply and prove your acquired skills in practice. Concrete projects are, for example, the development of an international market entry strategy for a mobility start-up or the analysis of the effects of disruptive innovations for a private equity company.

 

Internationality

Studying at Munich Business School is an international experience, because internationality is not only taught but also lived. This is why studying abroad is an integral part of our programs. MBS maintains partnerships with over 60 universities worldwide and is continuously expanding its international network. The cooperations range from classic programs such as ERASMUS+ and exchange programs to over 20 dual-degree agreements with partners in Europe, Asia, Australia, and the USA.
International Focus
International Focus

Although global economic principles can in general be applied everywhere, international markets are strongly influenced by political, cultural and historical characteristics.

By choosing one international focus per semester, you explicitly dedicate your Master International Business to the study of different markets and methods as well as special economic areas whose development influences the global economy.

Semester Abroad
Semester Abroad

You will spend the third semester abroad at one of our numerous international partner universities.

Students of the Master International Business gain comprehensive international experience by spending a semester at one of MBS' numerous international partner universities. Alternatively, students can spend two semesters at selected universities and complete their studies with a dual degree.

International Atmosphere
International Atmosphere

Around half of MBS students come from abroad, which gives our lectures and seminars a certain international flair.

Engaging and exchanging ideas with international students will give you a detailed understanding of different cultures and offer you the opportunity to explore approaches and mindsets from other cultures – an experience that will expand your own horizons. Joint activities outside the classroom will help you develop a wide network of international contacts and friendships.

Dual Degree

With the dual degree option, you acquire an additional, specialized Master's degree from one of our partner universities.Munich Business School's cooperation with renowned international universities gives you the opportunity to acquire two different master's degrees within two years. For a dual degree, you will normally spend two semesters at MBS and then two semesters at the partner university, followed by the Master's thesis.

Mentoring Program

You have the opportunity to apply for our exclusive mentoring program. Within the framework of this program, a professionally experienced person from the circle of MBS alumni will support you with words and deeds during the hot phase of your studies, help you to achieve your career goals and provide you with valuable contacts through their network.

At the beginning of your studies, you will receive more information about our mentoring program and can apply for one of the limited places until the end of September. In October, the mentoring committee makes its decision and in November, the selected mentees meet their mentors. The mentoring meetings will take place between November 2021 and August 2022.

Guest lectures in the Master Innovation and Entrepreneurship

The study program at MBS thrives on numerous exciting guest lectures with speakers who provide a direct insight into practice and the working world. Here is a small selection from our numerous guest lectures that have already taken place in the Master Innovation and Entrepreneurship.

Guest Lecture from Deepa Gautam-Nigge

Gautam-Nigge, Head of SAP Next-Gen Innovation Network Munich, shared with us her insights and experiences on "Driving Corporate Innovation in the New World of Ecosystems".

Guest Lecture Peter Fricke from Deutsche Börse Venture Network.

Peter Fricke, Head of Deutsche Börse Venture Network, shared valuable insights into growth financing for startups.

Guest Lecture Daniel Rosson from Celonis

MBS alumnus and Head of GTM Strategy & Ops EMEA at Celonis Daniel Rosson used the example of Celonis, which started as a small student project, to show how to scale start-ups and develop them into global unicorns.

 

Lecturers in the Master Innovation and Entrepreneurship

Dr. Janine Grohmann

Director Digital, Consumer, Innovation Consumer Products at BSH Home Appliances Group

Prof. Dr. Holger Günzel

Co-Founder Digital Learning Lab
Professor at Hochschule München, University of Applied Sciences

Dr. Ion Hauer
Dr. Ion Hauer

Lecturer for Entrepreneurial Mindset & Business Design
Vita

Dr. Giordano Koch

Managing Director HYVE Innovate GmbH

Dr. Alexandra Mittermaier
Dr. Alexandra Mittermaier

Postdoctoral Researcher at TUM
TUM Entrepreneurship Research Institute
Vita

Tristan Post

AI Strategist at appliedAI Initiative

Dr. Fabian Schrempf
Dr. Fabian Schrempf

Lecturer for the programs Master Innovation and Entrepreneurship and DBA
Vita

Dr. Barbara Wolf
Dr. Barbara Wolf

Lecturer for  Innovation and Digital Business
Vita

Alumni

Josephine Dransfeld fourth-generation family entrepreneur of HEUNEC GmbH & Co. KG
Josephine Dransfeld fourth-generation family entrepreneur of HEUNEC GmbH & Co. KG

Josephine Dransfeld is MBS alumna 2013.

She is and fourth-generation family entrepreneur of HEUNEC GmbH & Co. KG.

more
Patrick Bohrer – Co-Founder and Business Development FLSK
Patrick Bohrer – Co-Founder and Business Development FLSK

Patrick Bohrer has already founded several companies. One of his “babies” is the innovative thermo bottle FLSK.

Pascal Ritter, MBS Alumnus and Founder of the Recycling App The Fortunate Planet
Pascal Ritter, MBS Alumnus and Founder of the Recycling App The Fortunate Planet

In spring 2021, MBS alumnus Pascal Ritter and his team launched the app The Fortunate Planet.

The Fortunate Planet is a recycling app that encourages and educates users about proper waste disposal and at the same time supports municipalities in digitalizing their waste management industry. As a result, the three umbrella organizations BDE, BDSV and VDM honored the team as "Best Start-up of the Circular Economy 2021".

more
Patrick Löffler – Co-Founder and CEO givve®
Patrick Löffler – Co-Founder and CEO givve®

Patrick Löffler is Co-Founder and CEO of givve®, an innovative tool in the field of employee benefits.

Alexander Lundberg, MBS Alumnus and Co-Founder of Careloop
Alexander Lundberg, MBS Alumnus and Co-Founder of Careloop

MBS alumnus Alexander Lundberg is co-founder of the online recruitment platform Careloop.

Careloop's aim: to solve the shortage of qualified employees in the nursing sector by supporting foreign healthcare and nursing staff in their job search and networking them with German institutions.

more
Daniel Barke – CEO von WorkGenius
Daniel Barke – CEO von WorkGenius

Daniel Barke is one of the two founders and CEO of WorkGenius.

Christian Klemenz – Founder and Managing Director Bierothek
Christian Klemenz – Founder and Managing Director Bierothek

Christian Klemenz is the market leader in the area of specialist beer stores in Germany.

Simon Sparber – Founder and Managing Director of Angles90
Simon Sparber – Founder and Managing Director of Angles90

Simon Sparber started his own business with the first dynamic training grip worldwide.

Josephine Dransfeld fourth-generation family entrepreneur of HEUNEC GmbH & Co. KG

Josephine Dransfeld is MBS alumna 2013.

"A long-time professor greeted us at the start of our studies with the words: 'You're all sitting here because you want to become managers one day.' In retrospect, he was of course right, even if as a student of 20 years, you may not yet be aware of the full implications of what it actually means to be a manager. At MBS, I was convinced by the extraordinary mix of courses: Economic and Cultural History, Intercultural Management, but also the classic 'tools of the trade' such as Financial Accounting, Corporate Finance and Taxes. You don't have to know all of this perfectly as a manager and family entrepreneur, but you should at least understand something about it. The obligatory semesters abroad and internships in Germany and abroad help to recognize how the global world is connected and to deduce what this means for one's own company. The soft skills courses on presentation techniques and personal appearance were also helpful. During our studies, we groaned under the weight of presentations, but in retrospect, it was an incredibly valuable experience that I still benefit from today."

Patrick Bohrer – Co-Founder and Business Development FLSK

Patrick Bohrer has already founded several companies. One of his “babies” is the innovative thermo bottle FLSK.

Master Alumnus Patrick Bohrer has already founded several companies and is an experienced entrepreneur. One of his “babies” is the FLSK - an innovative thermo bottle which is 100% leak-proof, sustainable and keeps drinks cold for 24 hours and hot for 18 hours.

Patrick, when did you realize that you wanted to be an Entrepreneur?
My first course in Entrepreneurship and Innovation during my Bachelor studies in the USA sparked my interest. And as I come from a family business background the idea of becoming an Entrepreneur was of course always there already.

Can you tell us how you got the idea for FLSK and what happened then?
On a very hot day in summer, one of my friends came to me - with a stainless-steel bottle from South Africa which was said to keep drinks cold for 24 hours. Amazingly, it really worked, we had perfectly chilled white wine even hours later and I was absolutely fascinated!

Thus, we simply took this existing idea and started a collaboration with the South African company that had produced these bottles. We redid everything: we improved the design and the production process and focused on e-commerce instead of wholesale.

What were the biggest challenges during the founding process of FLSK?
The major challenge was that thermos bottles already existed as a product, but had just a functional and unsexy image. It took a lot of time and marketing efforts to change how people perceived thermo bottles.

In which ways did your time at MBS help you to start your own company?
The courses in Entrepreneurship by Prof. Dr. Bergfeld were of incredible value to me. There, I acquired the basics you need for founding. On top, there were events like Munich Venture Summit. There, I had the chance to deepen the relationships with lecturers and fellow students.

Looking back, is there something you would have done differently?
I would never again write a business plan! I learned one thing: you need to trust your gut instincts and have to be persistent to follow your dreams.  For example, one week after we had founded FLSK, we realized that all our prognoses were wrong. You need to be flexible and patient. But, of course, that is easier said than done.

What advice would you give prospective entrepreneurs?
Try to anticipate the future and try to understand how markets change. Read between the lines. Consider the impact of media and how they work.

Pascal Ritter, MBS Alumnus and Founder of the Recycling App The Fortunate Planet

In spring 2021, MBS alumnus Pascal Ritter and his team launched the app The Fortunate Planet.

Pascal, Pitching is part of everyday business in the start-up scene. In a nutshell: What is the idea behind your sustainable start-up The Fortunate Planet? Convince us!
My team and I are developing an environmental tracking platform that cities and municipalities can use to optimize their waste management by connecting all relevant stakeholders and offering benefits. With the platform, we want to help the recycling industry in particular to recycle more raw materials and thus continuously increase recycling rates, as these are alarming on a global level. When disposed of correctly, waste is a raw material for the next participants in the supply chain. This means that the higher the recycling rates, the closer we come to a circular economy with closed material cycles. With our newly developed app The Fortunate Planet, we want to make a contribution and motivate people in a playful way to to build a digital waste disposal network and dispose of their own waste correctly by offering all relevant information for this in just one app and rewarding them for their contribution.
As a software company, we develop the necessary platform and help cities and municipalities on their way to digitalization and becoming a circular city.

From the first idea to the product launch: How long have you been working on your business idea? When was the entrepreneurial spirit awakened in you? What have been the biggest challenges, but also the biggest milestones so far?
The idea for The Fortunate Planet arose in November 2019, when I was on a backpacking trip through South America – a moment that decisively changed the rest of my journey, as I subsequently spent more time working on the concept than on the beach.
The crucial thing for us is correct disposal – and this is where we faced one of the biggest challenges in developing the app: which disposal point is recycling-friendly and which city has already digitized its drop-off points? Out of this need, we integrated the spotting of waste collection points into the app in order to build up a nationwide network in the long term, from which all users benefit and which at the same time helps the cities to classify and digitalize their waste collection points.

The biggest milestone recently was certainly the app launch for Global Recycling Day on March 18, 2021 We had originally planned to launch the app in April and ultimately launched it in the app store four weeks earlier than planned in order to be online especially for Global Recycling Day. There, the whole team did a huge job and trembled until the end. In the end, the app was approved at 6:21 am on March 18 and available as of 9:53 am – precision landing.

What role do you think innovations and start-ups play in the development of a more sustainable and greener world?
An elementary one! A small boat turns faster than a large freighter and can react more quickly to new circumstances. I see it similarly when it comes to start-ups and innovations.

And last but not least: What is your advice for young entrepreneurs or students who are thinking about founding a start-up?

Do it right away! Even if there’s a high chance that it won’t be a success, you’ll learn so many new things yourself that will help you in the long run in any job. Start with small tests and when you realize that the topic really interests and stimulates you, intensify your work.
If your personal situation allows it and you don’t have a precise idea yet: take three months and focus on identifying without pressure for yourself personally what you are looking for in life and what you want your life to look like in 5, 10 and 30 years. Then find a long-term goal that will still drive you in 10 years and build a business model around it that is in harmony with your own goals.

The full interview can be read on our blog MBS Insights.

Patrick Löffler – Co-Founder and CEO givve®

Patrick Löffler is Co-Founder and CEO of givve®, an innovative tool in the field of employee benefits.

Are there certain skills that you obtained at MBS which helped you to start your own company?
Yes, indeed, there are some. For example: to give a presentation. When you start your own company, you have to present your idea all the time. At MBS you have to give presentations all the time, so I felt very well prepared. And, by the way, I’d like to take this opportunity to give some advice: the first and the last sentence of your presentation are crucial. They will be remembered by the audience and have to be perfect. And – even though it seems obvious – look at your audience during your presentation.

Which of your characteristics as a person have helped you to become a successful entrepreneur?
Power of endurance. To keep going even when nobody believes in your idea and your company. That makes all the difference. I know many founders with great ideas who have simply given up. And there are others whose ideas aren’t that brilliant but who just kept going and they became very successful. Besides, focus on yourself and your idea, don’t let other people influence you and tell you what to do. Perseverance and patience are essential for an entrepreneur.

Would you say that Munich is a good place to start your own company?
Yes, definitely! Simply because there are six DAX listed companies in Munich whereas in Berlin there are none. We have plenty of resources in Munich, from private equity to many universities. Apart from that, the network that you obtain at MBS helps a lot. For instance, I got to know our first business angel through one of my fellow students at MBS. We don’t talk that much about our achievements here in Munich, but we should start to do so. We don’t have to be afraid at all to compare ourselves with Berlin!

Even though there are lots of entrepreneurs among our graduates, there are also those who want to be an employee. What is important for you when you recruit?
It’s essential that a new staff member is a good fit for our team. We absolutely follow our rule “In doubt don’t hire”. Applicants have to talk to many of our staff and if only one team member has any doubts regarding the applicant, we don’t make a job offer. We require very specific tasks that mostly have to be learnt on the job, but as a person, you just have to blend in easily. 

Alexander Lundberg, MBS Alumnus and Co-Founder of Careloop

MBS alumnus Alexander Lundberg is co-founder of the online recruitment platform Careloop.

Alexander, after many years in Consulting, why did you decide to found your own company? And why the health care sector?
Since studying at MBS I knew that I will found my own company eventually. However, I decided to gain some work experience first. There is no better way than consulting to learn as much as possible in the beginning of a business career. Among others I had the pleasure to work on several health care projects. This is why I decided to found Careloop and become an entrepreneur in the booming and changing health care sector.

What are the biggest challenges you are facing right now? Are the skills and knowledge you acquired at MBS important for you?
Our biggest challenges are finding the right talent for our unique business model, dealing with authorities and leading them on the way to digitalization and of course grow as fast and as sustainable as possible at the same time. I am responsible for sales and partnerships – my time at MBS helped with pitching my start-up and in dealing with different stakeholders of various cultures and backgrounds.

Do you have any tips or advice in general for current and prospective students?
General tips are always difficult. If I have to pick one, I would always advise and encourage students to identify their own talents in order to base their decisions on. DO NOT listen to what the mass is saying. Only if you are able to stand out you can achieve a true impact.

Daniel Barke – CEO von WorkGenius

Daniel Barke is one of the two founders and CEO of WorkGenius.

What is WorkGenius?
The job world is becoming more and more flexible. In the US, up to 40% of the workforce already consists of freelancers. Thus, different systems and approaches are needed in order to find just the right talents.

WorkGenius provides the infrastructure for companies who look for freelancers. Our technology facilitates fixed prices, reliable job handling and a consistently high-quality standard. It helps to assign available talents to specific tasks while the confidentiality of both parties is guaranteed at all times. Matching is done fully automatically thanks to behavior-based data. Job interviews aren’t needed any longer.

So far, more than 350,000 freelancers from all over the world have registered with us to obtain suitable tasks. We have offices in Hamburg and New York and over 70 employees.

You started your own business during your Bachelor studies at MBS and never worked as an employee. Can you tell us what Entrepreneurial Spirit means to you? And how did you benefit from your time at MBS?
I think one of the essential aspects of founding is that you try to improve something. We came across deficits and wanted to change these with our idea. Over the course of the last six years, I constantly discovered things I did not want to accept. If you are then supported by an enthusiastic team which tackles those challenges with drive, the entrepreneurial spirit is tangible at once.

I discovered a couple of years after graduating how useful my studies at MBS had been. As a founder, nearly every day new challenges from various fields are raining down on you. Your task is to deal with them. During exam time at MBS I always wondered why in the world one had to write 10 exams within 2 weeks. But the ability to work under pressure, prioritize right and thereby keep a clear mind is vital.

Do you have any advice for students who’d like to start their own company?
Just go ahead and do it. That sounds simple and it actually is after graduating. At this point in your life you usually have little obligations, e.g. no family yet, and therefore a relatively small risk. Should your first idea not work out, you’ll always find a job as an employee. What I learned while starting my own company I would never have learned in any other job. Even if I would have said after these two years “this is not working out, I will do something else” it would have been still been the best decision ever.

Another advice: Talk about your idea. In Germany we often worry that someone copies your idea, but I believe that this mindset only denies us a lot of valuable feedback.

Christian Klemenz – Founder and Managing Director Bierothek

Christian Klemenz is the market leader in the area of specialist beer stores in Germany.

When Christian Klemenz started his Bachelor International Business studies at MBS, he wasn’t really sure about the direction his career would take. “But during my studies it became obvious to me that I’m really into Entrepreneurship. I was fascinated by business plans, raising capital, being innovative etc.”

After obtaining his Bachelor degree, Christian had a brilliant idea during his graduate study abroad semester in India: “I realized that there wasn’t a dominating brand of dark ale in India. Thus, I had the idea to create St. ERHARD, an ale beer brand “made in Germany”. Already one year later the first bottles left the St. ERHARD plant in Franconia to be sent on their way to India.

Germany's first Beerpreneur
Today, St. ERHARD is one of the largest craft beer producers in Germany: “We are exporting our beer to various countries on four continents. Apart from India, by now St. ERHARD is also available in New Zealand, Japan, Hongkong and Mexico” states the proud “Beerpreneur” as Christian calls himself. Christian’s second venture is a success as well - and of course it has also something to do with beer: In 2014 he opened his first Bierothek - a “specialty store all about beer”. Beer lovers can find there not only Christian's own brand but also a vast selection of beers from all around the world.  With now more than 15 Bierotheks so far, he is the market leader in his segment in Germany.

“MBS provides the perfect environment to become an entrepreneur. My lecturers’ professional advice and the network from my student days formed the basis for my first business.”

Simon Sparber – Founder and Managing Director of Angles90

Simon Sparber started his own business with the first dynamic training grip worldwide.

What exactly is behind Angles90?
Angles90 is the first dynamic training grip worldwide. That means - for all non-gym visitors - it is an ergonomically shaped handle with a loop in the middle, which can be attached to any training device. This means that you no longer have to adapt to fixed and rigid training grips, such as those of a pull-up bar. This way, the training is not only more joint-gentle but also more efficient, as many different muscle stimuli are set.

You started your own business directly after your Master at MBS. Was that your goal right from the start of your studies? Or did this wish develop during your time at MBS?
Actually, it was already clear to me during my Bachelor that it would either go in the direction of consulting or entrepreneurship. In the last semester of my Master I had the idea with the training grips and then it was clear that the focus would be on founding a company. I also had several ideas before, but this one made me realize that this is the right idea at the right time. In addition, the relatively low complexity and initial capital intensity of the business model is manageable, i.e. optimal for a first venture. In this respect, I keep repeating: Learn to drive a car better with a Fiat 500 than with a big jeep. Not all Startups are the same!

Did you consciously decide on MBS as an "Entrepreneur University"?
Yes, definitely. I knew right away that I would choose the focus on Innovation and Entrepreneurship in the Master International Business. And that really helped me a lot in the follow-up.

This leads us straight to the next question: What ideas, skills, and also networks did you take away from MBS?
The lecturers at MBS and their input had a great impact on me. For example, Mark Zeh taught entrepreneurship at the time and Jack Nasher gave the lectures on the topic of negotiation. These two subjects were by far the most useful for the things I do today. In third place on my subject ranking list, I would choose "Business and Society". But "Business Communication" was also important for me: how to communicate in the business world and keep moral values in mind. That has already shaped me.

How does it feel to be an employer for almost 2 years? What are your experiences? What do you pay attention to when hiring new team members?
I have two tips here. First: "Hire slowly - fire fast". Sounds tough, but it's important. Think not only twice, but five times about who you want to work with (and especially co-found!). Second: Motivation is more important than intelligence and grades. If someone is super smart but not motivated, he won't get deep enough into the matter and then mistakes and inefficiencies will occur. Stress resistance is also a prerequisite. And for employees: If you are not one hundred percent convinced by a potential employer, you can ask whether your expectations match or not.

Application

In order to qualify for the Master Innovation and Entrepreneurship study program, you must fulfill academic, linguistic, and to some extent professional requirements.

You may submit your application documents at any time. Since the places are limited, we advise you to apply for your desired study start as early as possible.

 

Admission Requirements

Academic Requirements

The main requirement for admission to the Master Innovation and Entrepreneurship study program is a successful Bachelor's degree (180 ECTS or more). Applicants with a degree in Business Studies/Management/Economics are entitled to apply  for the program directly, applicants without a degree in economics can qualify for the program by completing the Pre Master Program. Upon request, we will gladly verify your documents in advance. Please contact your Program Advisor.

Language Requirements

English Proficiency

Applicants must proof their English language skills by passing one of the following language tests:

  • TOEFL ibt: minimum 85 (min. 22 in writing and min. 20 in all other bands; MBS TOEFL Institution Code: 5772)
  • IELTS: minimum level of 6.5 – Academic Module
  • ELS English for Academic Purposes: Advanced Level 112

Test results can only be accepted if achieved within the last two years. If you are unable to obtain your test results before handing in your MBS application, please inform us about your planned test date.

The English proficiency test can be waived by the following candidates:

  • Applicants having completed their schooling in English (i.e., High School Diploma, IB)
  • Applicants having completed their first academic degree in English

Application Process

Step 1: Written Application

When submitting your online application, please provide the following mandatory documents:

  • Answering questions of motivation (various questions are available for selection during the online application process)
  • Résumé/CV
  • Copies of your graduation certificates* and/or current university transcripts*

You may also upload the following additional documents:

  • recent photo of yourself (professional, in color with bright background)
  • Copy of the school leaving certificate (e.g., Highschool Diploma, IB, Abitur)*
  • Proof of English language proficiency (TOEFL, IELTS or ELS)
  • Reference letters (if available)
  • Scholarship application (statement of 1-2 pages)

*Please provide the original documents or certified copies when you gain admission and matriculate to the program.

Online Application

Alternatively, you can also submit your written application.

Download Application Form

Step 2: Admission

Qualified applicants will be invited for a personal interview on site in Munich or online via Microsoft Teams (approx. 30 - 45 minutes). The interview may include the processing of a case study.

As soon as you are an admitted student, you have the opportunity to get to know MBS even better – before making your final decision whether to join Munich Business School.

Our study advisors will of course be available for all kinds of potential questions and personal consultations.

Step 3: Study Contract

Once you have successfully completed the application process, Munich Business School will provide you with an acceptance letter as well as two copies of your study contract. Please sign one copy and return it within two weeks to secure your spot in the program. The other copy needs to be kept for your own records.

The acceptance to the study program requires an enrollment fee of 690 Euro (EU/EFTA) respectively 1,490 Euro (non-EU) and a deposit of 1,000 Euro due upon signing the study contract. The deposit will be deducted from your first tuition fee installment.

Step 4: Student Visa

If you are a non-EU national, you are required to apply for a student visa in order start your studies in Germany. To obtain a visa invitation letter from Munich Business School, which is necessary to apply for the visa, please add a copy of your passport details page when handing in your signed study contract.

More about Student Visa

Scholarships

Munich Business School offers attractive scholarships. These are 10 - 50% for the 1st and 2nd Master semester. Students who show particular commitment can continue to receive support after the second semester. The program is also aimed at Pre-Master students.

The application for one of the scholarships is made together with the application for a study place. Further information can be found under "Scholarships and financing".

Tuition
Fees

The tuition fee is payable in three semester installments à 8,000 Euro or 18 monthly installments. The first rate is due upon the beginning of your studies and is be paid via bank transfer or PayPal.
Books, travel costs and accommodation not included in the overall tuition fee.

The non-refundable processing fee is due upon application, the one-time enrollment fee is due upon signing of the study contract. Both is be paid via bank transfer or PayPal.

Additional costs can incur for the semester abroad, depending on the partner university of your choice and depending on your choice to complete a dual degree.

Munich Business School offers attractive scholarships. Detailed information can be found here.

 

 

Tuition Fees Master Programs

Fee per Month
1,333 Euro
Fee per Term
8,000 Euro
Overall Tuition Fee
24,000 Euro

Other Fees

Application Processing Fee
60 Euro
One-time Enrollment Fee (EU/EFTA)
690 Euro
One-time Enrollment Fee for international students
1,490 Euro

Events

Other
27September2021
30 Years of MBS: Online Speaker Event “With Digital Innovations for a More Sustainable World”30 Years of MBS: Join Wolfgang…Learn more
Other
30September2021
30 Years of MBS: Online Speaker Event 'Sales & IT: Hack Rapid Innovation Together'30 years of MBS: Learn on…Learn more
Other
07October2021
Online Panel: Building Communities of Community Builders - An International PerspectiveTake part in our virtual panel…Learn more
Other
11October2021
30 Years of MBS: Founders and Friends – The Entrepreneurial Journey of Patrick Löffler and Rupert Schäfer30 Years of MBS: Learn…Learn more
Other
09November2021
30 Years of MBS: Online Interview with Vera Schneevoigt, CDO at Robert Bosch GmbH30 Years of MBS: Join Vera…Learn more

News

Would you like to learn more?

Studienberater MBS: Christoph Schlottmann, M.A.
Program Advisor Master Christoph Schlottmann, M.A. +49 89 547678 227 +49 178 2304275 master@munich-business-school.de
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