Master Innovation and Entrepreneurship - Studium München

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.

"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.)

Your Master's degree at Munich Business School

The holistic, interdisciplinary approach of the Master Innovation and Entrepreneurship study program for prospective Innovation Manager or entrepreneurs helps you to gain a comprehensive overview of current developments. In addition, you will take on different perspectives and receive answers to the central questions already during the three-semester course: How do you create a business plan? How do you build and test a prototype? And how do you convince stakeholders of your own idea?

Our
Master Study Program in Numbers

7
Business Concentrations

15-30
Students per group

60
International Partner Universities

4:1
Student to Faculty Ratio

100%
Business Hotspot Munich

21-32
Age range

57 %
International Students

Course of Studies

You will also learn to correctly interpret social and cultural aspects and include such factors in your business decisions. The course 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 take an interdisciplinary approach, which will help to expand your entrepreneurial vision. You will therefore work on joint projects with students from other master’s programs, exchanging views and ideas. Discovering approaches and viewpoints from the fields of Sports Business, International Business, and Innovation and Entrepreneurship will expose you to a wider range of experiences and equip you with new and different tools.

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. You can choose from a varied pool of events and, for example, take courses on Social Entrepreneurship, Technology Trends or "Success Factor Happiness" or work on an individual research project.

Module Overview Master Innovation and Entrepreneurship

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.

 

Your 3rd Semester

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.

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 partnership relationships 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 and Dual Degree
Semester Abroad and Dual Degree

If you complete a semester abroad at one of our many partner universities, you will benefit from rich and wide-ranging experiences. 

At selected universities, you have the option to spend two semesters there and complete your studies with a dual degree – that is, your MBS degree and a second, specialized master’s degree from the partner university. You will write your master’s thesis at MBS after completing your time studying abroad.

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. 

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. 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:

  • Letter of Motivation (1-2 pages)
  • 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

Selected candidates will be invited to a personal interview at MBS or via Skype (30 – 45 min).

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.

International students have the option of visiting the summer school of the Zagreb School of Economics and Management (ZSEM) in Croatia after their second semester. In addition, they can join an intensive course in German as well as career and application training for the German job market (time frame: June to August). 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.

 

 

Overall Tuition Fee
24,000 Euro
Application Processing Fee
60 Euro
One-time Enrollment Fee
690 Euro
One-time Enrollment Fee for international students
1,490 Euro

Testimonials

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.

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.

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.

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

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

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.

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.”

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. 

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 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.

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.

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.

Events

06July2020
MBS Talent Camp - The Perfect Application (English)MBS Talent Camp! The perfect…Learn more
08July2020
MBS Talent Camp - Simulated Job Interviews (English)MBS Talent Camp! Simulated Job…Learn more
15July2020
MBS Talent Camp - Simulation Vorstellungsgespräche (German)MBS Talent Camp! Simulation…Learn more
21July2020
MBS Talent Camp - Die perfekte Bewerbung (German)MBS Talent Camp! Die perfekte…Learn more
22July2020
MBS Talent Camp - Strengths and Weaknesses (English)MBS Talent Camp! Explore and…Learn more
29July2020
MBS Talent Camp - The Perfect Application (English)MBS Talent Camp! The perfect…Learn more
05August2020
MBS Talent Camp - Simulated Job Interviews (English)MBS Talent Camp! Simulated Job…Learn more
15August2020
Application Deadline International StudentsThe final Application Deadline…Learn more
15August2020
Application Deadline EU-StudentsThe final Application Deadline…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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