The University of Technology Sydney’s Business School has launched the first Australian MBA program designed specifically for entrepreneurs.
Students will study for three graduate certificates, in commercialisation, entrepreneurship, and new venture funding. A certificate can be studied separately, or the three combined into the MBAe degree and completed in one year in intensive mode.
The certificate in commercialisation will help students understand the ‘language’ of business, how to develop a new product, how to value their company, and how to understand the costs of capital and financing the development and delivery of their product.
The entrepreneurship certificate aims to teach students how to understand the capabilities of their team and how to reward and incentivise them, and how to negotiate and manage contracts and their company’s IP, while the certificate in new venture funding will help students understand how to differentiate their business from competitors, how to develop a viable business model, and how to understand their audience and pitch their product.
Professor James Hutchin, Associate Dean, business practice and external engagement at the UTS Business School, said the goal of the MBAe program is to combine academics with a strong mentorship program.
“This is a very different approach. A conventional business education program is about skills acquisition, teaching you how to do something. But when you talk about entrepreneurial education, it’s about teaching you how to be something. It’s about creating the conditions that allow entrepreneurship to emerge, while giving people the skills they need,” Hutchin said.
Hamish Hawthorn, chief executive of ATP Innovations, said the new MBAe program shows how far the local entrepreneurial ecosystem has come in the last decade.
“Ten years ago the opportunities for entrepreneur-focused education were very limited. It’s astonishing that you can now do an MBA that focuses just on what you need to learn, the tools you need, as an entrepreneur,” he said.
The location of the UTS Business School will also be handy for entrepreneurs; it is situated in the heart of Ultimo, the suburb with the highest density of startups than any other postcode in Australia.
Image: The UTS Business School’s Dr Chau Chak Wing Building. Credit: Andrew Worssam.