Entrepreneurship has become an increasingly popular activity that can be evidenced in different spheres of the economy and society. More commonly, entrepreneurial behaviors are associated with new start-up ventures where risk, ownership, and management are combined to exploit new market or technological opportunities. But such activities can also be seen in corporate, social, public, civic, community and small business contexts to reflect organizational efforts to sustain competitive advantage, uniqueness, and novelty. This is partly because the twenty-first century is characterized by a fast moving, competitive and global economy. Sustaining a competitive advantage requires that individuals, companies, and nations are able to anticipate and stimulate (rather than merely manage) change.
Entrepreneurship is about exploiting ambiguities and contingencies. More importantly, entrepreneurship is about experiencing a tension between ‘what is’ in the present and ‘what should be’ in the future – and then converting that tension into an entrepreneurial problem that can resolve the tension. Such a process demands concepts and knowledge from different disciplines and the integration of these concepts with the know-how and practical experience of daily business practice.
The program aims at achieving that integration, optimally balancing theory and know-how.
About Our Study Program
The Master in Entrepreneurship & Innovation is a program of the Luxembourg Business Academy, a privileged partnership between the University of Luxembourg and the Luxembourg Chamber of Commerce.
This master program has been accredited by FIBAA, an internationally-recognized agency for quality assurance and quality development in higher education, in November 2015 for a period of five years.
Who is the programme for and what will the programme offer you?
The programme is a two-year full-time Master’s degree, which is targeted at:
Bachelor graduates in any discipline from Luxembourg and the Grande Région wishing to develop their entrepreneurial/innovation skills and knowledge
Graduates from Europe in any discipline looking to undertake a specific masters degree in entrepreneurship/innovation
Graduates and young professionals from non-Europe, who, in addition to the education and degree offered by the MEI, seek exposure to the infrastructure for entrepreneurship, internships and job opportunities that Luxembourg has to offer
Professional people or other practitioners who intend to start a business and want to learn the skills involved in this.
Mode of delivery
This is participative and interactive. In all courses, there is a balance between theory and practice (we use cases from businesses, talks by business owners and entrepreneurs, visits incubators, the Chamber of Commerce or companies). In some courses, we involve practitioners drawn from the local business community.
In the second year, there is a more reflective and theoretical discussion about organizational practices (and the meaning/implications of, for example, entrepreneurship for society and the role of innovation in the wider economy). This means that students are stretched to think critically about these processes rather than merely taking them for granted as accepted ways of thinking or organizing.
The key objectives of the Master in Entrepreneurship and Innovation are to:
1) Extend knowledge and understanding of the foundational principles of new venture creation and business start up in different societal contexts (social, corporate, ‘for profit’ etc.). Students will be able to critically assess and extend their entrepreneurial skills through direct interaction with colleagues/tutors on the course as well as entrepreneurs and local companies.
2) Develop critical, analytical and problem-solving skills. Students will learn how to recognise, analyse and offer solutions to innovation, entrepreneurial and strategic management issues in different organizational settings, using appropriate conceptual tools and theoretical frameworks.
3) Enable the ability to understand the components of a business plan and to appreciate different business and financial models as well as constructing a detailed financial and marketing plan.
4) Advance employability skills in team working, presentation and leadership as well as facilitating inter-cultural communication. Students will learn how to convey their ideas, express their creativity and synthesise their thinking/knowledge both verbally and in written format. They will hone their presentation skills, learn about negotiation skills and project management.
5) Provide an understanding of the local regulatory, tax and legal issues involved when starting a new venture and access to a wide set of business networks in Luxembourg economy.
Normally, candidates who complete the programme find employment opportunities in areas of innovation management/small business management/start-ups/entrepreneurial contexts or corporate contexts and the public sector.
Study abroad option
In semester three, students have the option to study abroad during which they can take relevant courses at partner institutions in different international environments (NB: the particular partners are still being developed).