Master of Entrepreneurship

The Master of Entrepreneurship will provide students with the knowledge and skills needed to develop, launch and grow innovative enterprises and to successfully commercialise products and services.

Students will learn how to design new products and services using the latest in design thinking as well as how to develop a successful business model. The program is about learning by doing and is highly practical. Students will meet a wide range of entrepreneurs, have the opportunity to be mentored by them and get experience inside existing start-ups. During the course of the year, students will develop their own start-up initiatives to pitch for real funding to launch their enterprise.

1. Learning Goal

Graduates of this degree will be adept at creating, analysing and evaluating entrepreneurial ventures.

Learning objectives to achieve this goal.

On successful completion of this degree students will be able to:

• Describe and explain the body of knowledge including lean start-up, the commercialisation process, brand building and tests of innovation for new ventures of different types;
• Identify and apply methods for researching entrepreneurship related problems; and
• Evaluate the impact of a range of social, cultural and environmental factors on enterprises and the market.

2. Learning Goal

Graduates of this degree will be creative, critical and design thinkers in relation to entrepreneurial practice and in developing evidence-based solutions to problems in enterprises and in broader society.

Learning objectives to achieve this goal.

On successful completion of this degree students will be able to:

• Explain and critically analyse how to launch and develop new start-ups from ideation, formulation, specification and execution using design thinking methodology;
• Identify strategic issues and solutions in relation to growth and pathways to market for enterprises;
• Apply knowledge of theory to analyse problems in different markets nationally and globally; and
• Demonstrate creativity and initiative in the application of knowledge to problem solving and entrepreneurial practice.

3. Learning Goal

Graduates of this degree will be effective and ethical decision makers of entrepreneurial enterprises.

Learning objectives to achieve this goal.

On successful completion of this degree students will be able to:

• Apply basic data analytic and/or statistical techniques to analyses enterprise decisions;
• Develop and apply ethical frameworks for decision-making;
• Apply governance strategies to create sustainable enterprises;
• Utilise a range of tools of analysis relevant to the evaluation of business planning, pitching, financing, leading and growing enterprises, as well as product and market fit;
• Use evidence-based research techniques to support and evaluate decisions;
• Execute a pop-up enterprise requiring research, validation and business processes evaluation; and
• Apply knowledge of entrepreneurship discipline to create a viable entrepreneurial venture.

4. Learning Goal

Graduates of this degree will be competent in professional knowledge and skills in the entrepreneurship discipline in preparation for an entrepreneurial career.

Learning objectives to achieve this goal.

On successful completion of this degree students will be able to:

• Demonstrate networking and collaboration skills;
• Demonstrate an understanding of the requirements to be a successful entrepreneur including self-awareness, creativity, reflective practice, and strategies to motivate and lead others and to manage change;
• Demonstrate the capacity to successfully work independently with personal accountability; and
• Appraise recent developments in the entrepreneurship discipline.

The Master of Entrepreneurship consists of 9 core subjects comprising 2 foundation subjects, 6 entrepreneurship core subjects, 1 capstone subject (25 points) and 2 elective subjects.

Foundation subjects

Students must take both:

Core subjects:

Students must take:

Capstone subject:

Students must take:

Elective subjects:

Students must select 2 electives subjects chosen from the approved elective list or as approved by the Program Director. Subjects will be available in Semester 1, Winter and Semester 2. An approved elective list is availabe at http://fbe.unimelb.edu.au/students/mbs/subject-selection-and-electives

Recommended study plan:

Summer

MGMT90222 Foundations of Entrepreneurship Practice

MGMT90229 Entrepreneur Within

Semester 1

MGMT90224 Garage Project

MGMT90223 Design Thinking

MGMT90226 Business Acumen for Entrepreneurs

MGMT90225 Creating a Successful Business Model

Winter

MGMT90230 Creating Your Own Enterprise

Elective

Semester 2

MGMT90227 Entrepreneurial Organisation Foundations

MGMT90228 Managing Growth and Pathways to Market

Elective

Entry requirements:

1. In order to be considered for entry, applicants must have completed:

• an undergraduate degree in any discipline, with a GPA equivalent of 65% at the University of Melbourne; and
• response to a structured questionnaire; and
• a 5 minute video pitching why the prospective student should be selected for the Master of Entrepreneurship; and
• an interview for shortlisted candidates only*.

2. In ranking applications, the Selection Committee will consider:

• prior academic performance; and
• response to a structured questionnaire; and
• the video pitch; and
• the interview

3. The Selection Committee may seek further information to clarify any aspect of an application in accordance with the Academic Board rules on the use of selection instruments.

4. Applicants are required to satisfy the University’s English language requirements for graduate courses. For those applicants seeking to meet these requirements by one of the standard tests approved by the Academic Board, performance band 7.0 with no individual score less than 6 for IELTS, or IBT score 94 with a minimum written score of 27 for TOEFL is required.

*Note. Master of Entrepreneurship candidates will need to be admitted to both Ormond College and the University of Melbourne. The interview for shortlisted candidates will include a component for admission to Ormond College as well as the University.

For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Student Support and Engagement Policy, academic requirements for this subject are articulated in the Subject Overview, Learning Outcomes, Assessment and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this subject are encouraged to discuss this matter with a Faculty Student Adviser and Student Equity and Disability Support: http://services.unimelb.edu.au/disability

On successful completion of this degree graduates will be:

• Adept at analysis and evaluation of social and business problems to enable evidence-based enterprise decision making;
• Proficient in professional knowledge and skills in design thinking and lean start up practices in preparation for their own enterprises;
• Develop skills of running an entrepreneurial venture in a simulated real-life environment
• Competent at analysing and evaluating information to enable evidenced-based entrepreneurial practice
• Ethical problem solvers in enterprise creation through the application of appropriate concepts, principles and data;
• Strategic and critical thinkers in relation to enterprise growth and pathways to market;
• Effective communicators of entrepreneurship concepts to peers and the wider community;
• Able to conduct basic market research and to retrieve information from a variety of sources;
• Collaborative in work practices as well being driven and having ambition.

On successful completion of this program, students should have enhanced their skills in:

• Creativity
• Self- Awareness and reflexivity
• Critical Thinking and Analytical
• Working with Others and in Teams
• Problem Solving
• Communicating using Graphs, Tables and Figures
• Communicating using narrative and other language-based methods
• Flexibility and Tolerance for Uncertainty
• Numerical and/or Statistical Skills
• Oral Communication
• Understanding Enterprise Creation
• Finding, Evaluating and Using Relevant Information
• Written Communication