Whether you’re ready to launch your million-dollar business idea or want to gain more knowledge about starting a business, a master’s in entrepreneurship online can help you achieve your goals. Combining flexible schedules, action-based curriculum and affordable programs, you will build the unique skills required to be a successful entrepreneur in today’s world. This guide has everything you need to get started, including a list of top-rated programs for 2023.
Best Master’s in Entrepreneurship Online in 2023
The online Master of Science in Innovation Management and Entrepreneurship degree offered by Temple University is a great choice for anyone looking to learn about innovation and new ventures in business. Students learn to look at business from a unique perspective and identify or rework processes to build advantage. The program serves a wide array of students, from working professionals to new grads. Three concentrations allow students to spend 9-12 credit hours focusing on a particular area: entrepreneurship, innovation strategy, or technology and innovation management. Students can expect to take courses like entrepreneurial thinking and new venture creation, management of technology and innovation, and global innovation strategy.
Program Highlights:
Master of Science in Innovation Management and Entrepreneurship
- Credits: 30
- Length: 1-2 years
- Cost: $1,165.00 / credit
- Mode: Online
- Accreditation: Association to Advance Collegiate Schools of Business
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | MSCHE |
Dickinson State University offers an affordable Master of Entrepreneurship degree at their campus in Dickinson, North Dakota. Students complete a 12 hour core of business courses, a 12 hour core of entrepreneurship courses, and 6 hours of electives. The program provides an immersive experience through experiential learning, and students are encouraged to start their own business ventures during their studies. Multiple career paths in addition to business ownership are available to graduates including finance manager, market research analyst, business consultant, and product developer. Dickinson State accepts up to 9 hours of transfer credit for equivalent coursework.
Program Highlights:
Master of Entrepreneurship
- Credits: 30
- Length: Varies
- Cost: $336.67 / credit
- Mode: In-person
- Accreditation: The International Accreditation Council for Business Education
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | HLC |
For those interested in a traditional MBA but who are looking for more flexibility, East Texas Baptist University’s Fred Hale School of Business is a great choice. Students can choose from 3 specializations, one of which is in entrepreneurship. In this track, students complete 18 core hours and 12 hours of specialization courses. Flexibility is designed into the program, with students being able to take courses where they create a small business plan. Whatever their entrepreneurial goals are, students are equipped to analyze data, examine business principles, navigate organizations through developing circumstances, and apply management best practices for success in a global environment. Applicants must have a 2.75 overall GPA or a 3.0 GPA in the last 60 hours of coursework.
Program Highlights:
Master of Business Administration (Entrepreneurship Specialization)
- Credits: 33
- Length: 1 year
- Cost: $387 / credit
- Mode: Online
- Accreditation: Southern Association of Colleges and Schools Commission on Colleges
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | SACSCOC |
For students with a special interest in global economics, the Master of Arts in Innovation and Entrepreneurship (MAIE) offered by Concordia University Chicago in conjunction with the Berlin School of Business and Innovation should be a top prospect. This unique program allows students to study in person in Berlin and even receive additional education for free. In addition to the master’s classes, students can also take courses in executive education and the German language. The program seeks to help students understand the constantly changing world of business and how leaders must redefine management strategies consistently. Graduates will be ready to lead a new business venture or oversee changes and innovations within an existing organization. Instruction in Berlin places students at the hub of European business ventures. The 20 month program is a unique, innovative approach to a master’s degree.
Program Highlights:
Master of Arts in Innovation and Entrepreneurship
- Credits: 30
- Length: 20 months
- Cost: 7,726.61 / year
- Mode: In-person in Berlin, Germany
- Accreditation: Accreditation Council for Business Schools and Programs
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | HLC |
Concordia University Wisconsin’s Master of Business Administration in Innovation and Entrepreneurship emphasizes real experience and practical knowledge. Success in business ventures is part of the program’s goal, but it also seeks to train students to develop an entrepreneurial mindset by cultivating excitement for overcoming challenges and creative approaches. The university provides free business coaching to students. Furthermore, the CU Launch Initiative allows students to pitch ideas for possible seed funding. Students complete a 15 hour MBA core, 12 elective hours of innovation and entrepreneurship courses, 6 hours of experiential learning, and a 3 hour capstone course.
Program Highlights:
Master of Business Administration in Innovation and Entrepreneurship
- Credits: 36
- Length: Varies
- Cost: $799 / credit
- Mode: Online
- Accreditation: International Accreditation Council for Business Education
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | HLC |
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | MSCHE |
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | HLC |
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | SACSCOC |
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | HLC |
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | HLC |
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | ACCSC |
School Services & Accreditation
| Career Services | Yes |
| Academic Counseling | Yes |
| Accreditation | ACCSC |
Spotlight Schools: In-Depth Look at Entrepreneurship Online Master’s Programs
There are many master’s in entrepreneurship online programs, and with the variety of program options and features, it can be hard to choose the best one for you. To help you narrow down your choices, we highlight three of popular and reputable programs. These programs were chosen based on factors such as learning flexibility, cost, and accreditation.
University of Florida
The Warrington College of Business offers a master’s in entrepreneurship online that takes one year to complete and welcomes undergraduates from any major. Comprised of 36 credits, this intensive program brings in topics such as entrepreneurial marketing, entrepreneurial profitability metrics, and creativity in entrepreneurship. Students can also choose from specialized electives in topics such as international entrepreneurship and small and family businesses.
While UF’s program can be completed online, the department offers immersive experiences in Silicon Valley for those interested in technology topics. The department also requires a practicum, but this can be done near your place of residence. You can submit applications for both the fall and spring semesters. Admission requirements include a regionally accredited bachelor’s degree, GMAT/GRE scores, a statement of purpose, two recommendation letters, a resume, and official transcripts. The department provides individual career coaching, professional development workshops, career fairs, and access to job search engines.
Drexel University
Pennsylvania’s Drexel University offers an online master’s in entrepreneurship and innovation through the Charles D. Close School of Entrepreneurship. The program consists of 45 quarter credits and touches innovation in established companies, legal issues in new ventures, entrepreneurship practice, and mindset, and learning from failure. Most students complete the program in one year, but students can transfer up to 15 credits from an approved program.
Admission requirements include a bachelor’s degree from a regionally accredited school, a 2.7 or higher GPA, official transcripts, a personal statement, and letters of recommendation. Tuition for the upcoming school year is set at $1,100 per credit. Students can take advantage of several different funding opportunities, including discounts for alumni, military members, and those affiliated with partner organizations. Once admitted, distance learners gain access to the Baiada Institute for Entrepreneurship and various mentorship opportunities.
Pennsylvania State University
Penn State offers an online master’s in corporate innovation and entrepreneurship for learners who want to bridge the gap between corporations and self-owned businesses. The program consists of 33 credits, each of which costs $951. Most students graduate in 12-18 months.
As an AACSB-accredited program, Penn State offers cutting-edge curricula taught by academics and entrepreneurial leaders. The curriculum consists of corporate innovation and entrepreneurship studies, business modeling and new venture creation, and corporate innovation strategies. You can also select from primary concentrations in business management or engineering innovation. Secondary concentrations exist in accounting, business analytics, business architecture, business sustainability, management consulting, marketing, negotiation and influence, strategic leadership, and supply chain management. Regardless of the concentrations chosen, all students complete a culminating capstone experience.
The department accepts applications for the summer, fall, and spring semesters. Required materials include a regionally accredited bachelor’s degree, official transcripts, GPA, references, resume, and a personal statement. GRE/GMAT scores are not required at this time.
Why Earn an Online Master’s in Entrepreneurship?
If you already possess a bachelor’s degree in business or a related subject, you may wonder why you should pursue a master’s program. While undergraduate courses emphasize foundational topics, graduate classes help you build advanced entrepreneurial skills and knowledge. Some other benefits to consider include:
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Flexible Learning
Most students who pursue an online master’s in innovation and entrepreneurship already have jobs and want to open more doors for their future. Completing your degree online makes it easier to balance the professional and personal responsibilities of an advanced degree as an adult student.
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Unique Coursework
Unlike traditional MBAs, a master’s in entrepreneurship online provides targeted classes that help you understand the ins and outs of important topics such as innovation, concept development, new venture creation, ideation, and business models. These programs also emphasize the creative aspect of entrepreneurship.
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Networking Opportunities
Like other business degrees, online master’s in entrepreneurship programs emphasize connections. Through targeted networking sessions, in-class lectures, and hands-on experiences, you have the opportunity to meet those who could become your mentor, investor, or even future boss.
What You’ll Learn in Online Master’s in Entrepreneurship Programs
Undertaking a master’s in entrepreneurship online provides you access to important topics such as entrepreneurial marketing, financial accounting, and entrepreneurial profitability metrics. You’ll also gain skills in entrepreneurial writing and communication, managing the first 100 days of a new venture, and understanding the laws governing your business. Most programs culminate in a final capstone project. If your interests in entrepreneurship are more academic, you may be able to research and write a thesis instead. We look at some common courses in this section.
Common Entrepreneurship Master’s Course
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Business Plan Development
This required course ensures students understand how to effectively craft a solid business plan. Students consider case studies to learn what works and what doesn’t, develop written and oral communication skills needed for pitching to investors and present their plans before a panel.
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Global Entrepreneurship
If you want to take your company outside U.S. borders, this course is for you. Some of the topics explored include understanding global supply chains, developing marketing plans for international clients, managing employees in different locations, and following laws around operations and taxes when functioning in multiple countries.
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Social Entrepreneurship
Entrepreneurs who want to use their companies to help others take this course as an opportunity to learn about balancing profits and social good. You’ll review several case studies to learn about the various models for developing and running social enterprises and discuss how each could work with your venture.
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Market Research for Entrepreneurs
Before embarking on any entrepreneurial venture, you need to know who your customers are and if they want your product or service. Some of the topics covered in this class include measuring market demand, an understanding customer wants and needs, setting an attractive price point, and developing products and/or services that meet the demands of the market.
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Capstone
At the end of your degree, plan to complete a capstone project that brings together all you’ve learned. Many entrepreneurship programs look for projects that bring together components of a new venture and use skills gained in marketing, finance, ideation, law, and other topics covered.
Accreditation for Master’s in Entrepreneurship Online Programs
Finding a suitable curriculum and an affordable price tag are imperative parts of the process but making sure the school and program you choose hold proper accreditation could be the most important step you take. In terms of institutional accreditation, find a school approved by one of the six recognized regional accrediting agencies.
When looking at individual programs, you should try to find one that holds accreditation through either the Accreditation Council for Business Schools and Programs or the Association to Advance Collegiate Schools of Business. If you’re unsure whether a school or program is properly accredited, you can use the searchable database provided by the U.S. Department of Education’s Database of Postsecondary Institutions and Programs.
What You Can Do with a Master’s in Entrepreneurship
If you want a versatile degree that emphasizes both business concepts and creativity, an online master’s in entrepreneurship can be a great fit. Business owners exist in every industry imaginable, meaning your degree will translate to countless fields and roles. Whether you decide to start your business directly after graduating or want to work for another company for a while before setting out on your own, this degree can serve your needs well.
Some programs also provide specializations in social entrepreneurship or global entrepreneurship, ensuring you can tailor your education to specific interests. As the careers highlighted below suggest, graduates of these programs also earn ample salaries.
Top Executive
Also known as C-Level professionals, top executives sit at the help of their organizations. Whether working as a CEO, CFO, CMO, or COO, these professionals create organizational policies and goals, oversee budgetary decisions, negotiate contracts, meet with those they supervise, and look for ways of bringing new clients into the business.
| 10th Percentile | Median Annual Pay | 90th Percentile |
|---|---|---|
|
$62,290 |
$184,460 |
$208,000 |
Source: Bureau of Labor Statistics, 2019
General and Operations Managers
These individuals typically work directly under C-Level executives to ensure all of their goals and policies are carried out by staff members. They hold meetings with employees, manage projects, organize shipments of raw and finished goods, oversee daily operations, and meet regularly with their supervisor to provide updates.
| 10th Percentile | Median Annual Pay | 90th Percentile |
|---|---|---|
|
$45,050 |
$100,780 |
$208,000 |
Source: Bureau of Labor Statistics, 2019
Management Analyst
Whether working in-house for a single company or in a consulting role, management analysts help their organizations improve efficiency and earn higher profits. Common responsibilities include collecting data and information, analyzing it to identify areas of improvement, creating a plan for improvements, and presenting organizational management findings.
| 10th Percentile | Median Annual Pay | 90th Percentile |
|---|---|---|
|
$49,700 |
$85,260 |
$154,310 |
Source: Bureau of Labor Statistics, 2019
Financial Manager
Financial managers help their companies stay solvent and find ways of increasing – and sustaining – profit. They create financial statements and reports to help managerial staff understand the organizational trajectory, ensure all legal and regulatory requirements are followed, keep an eye on market trends, and look for ways to lessen costs.
| 10th Percentile | Median Annual Pay | 90th Percentile |
|---|---|---|
|
$68,370 |
$129,890 |
$208,000+ |
Source: Bureau of Labor Statistics, 2019
Marketing Manager
Marketing managers are tasked with ensuring their company stays in the mind of past, present, and future consumers. They create advertising materials and promotional campaigns, develop and implement branding guidelines, negotiate contracts, commission market research studies, and oversee other marketing staff.
| 10th Percentile | Median Annual Pay | 90th Percentile |
|---|---|---|
|
$61,930 |
$125,510 |
$208,000 |
Source: Bureau of Labor Statistics, 2019
Costs and Financial Aid for Online Master’s Degrees in Entrepreneurship
Before making your final choice on which master’s in entrepreneurship only program you attend, considering cost is vitally important. As the table below demonstrates, wide differences can exist, especially when comparing public vs. private schools. If you’re working with a tight budget, maximizing financial aid is key. In addition to completing the Free Application for Federal Student Aid (FAFSA), you should also learn about any institutional funding, employer tuition assistance, and scholarships offered by companies, nonprofits, and foundations.
What Your Online Master’s in Entrepreneurship Could Cost
| School Name | No. of Credits | Cost/Credit | Total Tuition Cost |
|---|---|---|---|
|
45 |
$1,100 |
$49,500 |
|
|
30 |
$1,084 |
$35,520 |
|
|
39 |
$1,820 |
$70,980 |
Frequently Asked Questions About Online Entrepreneurship Master’s Degrees
What are the admissions requirements for an online master’s in entrepreneurship?
Admission requirements for master’s in entrepreneurship online programs vary by school, with more competitive programs setting more rigorous requirements than others. You should always look at the individual admissions checklists, but you will likely need to include versions of the following items in general.
- Completed application and application fee payment
- Bachelor’s degree from a regionally accredited college or university
- 2.7 or higher GPA
- GRE/GMAT scores
- Resume/CV
- Evidence of at least two years of professional experience. Some programs require up to five years
- Letters of recommendation
- Personal statement/statement of goals
- Interview
- TOEFL/IELTS scores if an international student
How long will it take to finish my master’s in entrepreneurship online?
How long it takes to finish your degree depends on several factors. With both part-time and full-time options, most programs take between one and three years. At Babson University, for instance, you can plan to graduate 24 months after enrolling. Whether or not you decide to take summer classes will affect your timeline, as will whether or not you previously completed credits at another institution that will transfer over. Speak to admissions professionals to get specific answers about each school.
Can I earn a master’s in entrepreneurship 100% online?
As with other programmatic components, this depends on the individual school. Recognizing how busy many students are, many programs allow you to meet requirements without visiting campus. Those focused on providing a more immersive experience – or those that prioritize networking opportunities – may ask you to participate in several campus-based intensives. If so, factor in these costs when creating your budget.
