Online Master of Science in Entrepreneurship launched by Kelley Direct

Indiana University’s Kelley School of Business, the US business school with the top-ranked online MBA program, is launching a new online Master of Science degree in entrepreneurship and innovation.

The new program adds to the offerings from Kelley Direct, the school’s online master’s degree arm, which now include an MBA and master’s programs in marketing, strategic management, finance, global supply chain management, and business analytics.

The 30-credit entrepreneurship and innovation degree program can be completed in as little as 15 months, or as much as five years. Classes are taught by faculty who teach in Kelley’s residential MBA program. The curriculum includes three in-residence courses on the Kelley campus and in Silicon Valley, as well as an optional international consulting project. Students also have the option of combining the degree with an online MBA. The total cost of the MSc degree alone is about US$38,000.

Online master's degree program graded by business

Perhaps the most unique aspect of the program is the participation of west coast angel investors and corporate executives, who will grade the students’ final projects and determine if they graduate or need to repeat coursework. Companies expected to participate in this ‘spine sweat experience’ include Silicon Valley Bank, Guardian Equity Growth, XSeed Capital, Storm Ventures, and Sungevity.

“This isn’t about launching a business. This is not about a ‘feel-good’ degree. This is academic rigor that might be even tougher than our MBA,” said Philip T. Powell, chair of Kelley Direct and a clinical associate professor of business economics and public policy. “This is an online degree, but our students are going to have several action-based learning experiences where they’ll have to show up in person and stand and deliver.”

Donald F. Kuratko, the executive and academic director of the Johnson Center for Entrepreneurship & Innovation at the Kelley School of Business, who led the design team for the new online master’s degree program, said one thing that really sets it apart is the curriculum. Unlike other entrepreneurship programs that teach students how to start a new business, he said the new program provides a theoretical foundation that integrates other functional disciplines.

Dean at Kelley School of Business, Idalene Kesner, said the other thing that distinguishes the new program is the Kelley faculty: “Our faculty are leaders in entrepreneurship research, and our curriculum has an amazing breadth and depth, including corporate entrepreneurship, social entrepreneurship, and international entrepreneurship,” she said.

Kelley School of Business program intended to open multiple pathways

Students will be expected to take ideas developed in the program back to their companies, get them approved by senior executives, and implement them. The projects, Kuratko says, will create new pathways for placement and advancement, as students win promotions based on their work.

Kelley says that’s not the only career opportunity that graduates of the new program will have available to them.  In addition to striking out on their own, the school hopes graduates will be more valuable to existing organizations—better able to uncover market opportunities, help companies launch new products or services, and unlock overlooked value in existing product portfolios.

“Students want options because they want freedom and autonomy in what they do,” said Kuratko. “The only answer to that is entrepreneurship and innovation.”

The Kelley School of Business is ranked 21st in the QS TopMBA.com Global 200 ranking for North America, and the Kelley Direct MBA places 3rd in the QS TopMBA.com Distance Online MBA Rankings, making it the highest-ranked online MBA program in the US. While many schools offer an MBA concentration in entrepreneurship, Kelley says it believes it is the first accredited US business school to offer an online Master of Science degree in the subject.

The new program starts this fall. The application deadline is June 1 for international applicants and July 1 for US applicants.