M.Sc. Business Creation and Entrepreneurship

UIT the Arctic University of Norway

Application deadline: Self-financed international students: December 1st; Norwegian and Nordic students: April 15th
Tuition fee:
  • Free (EEA)
  • Free (Non-EEA)
Start date: January  2015, August  2015
Credits (ECTS): 120 ECTS
Duration full-time: 24 months
Languages:
  • English
Location:
Delivery mode: On Campus
Educational variant: Full-time
More information: Go to university website

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Description

Master of Science in Business Creation and Entrepreneurship is a full two year Master's Degree Program.

First Term

The first term on the BCE program is called the Business Creation Lab. Most weeks bring a new theme, with that theme reflected in all three courses. The Lab¿s main objective is to create a foundation for innovative project development in the second year, and to explain how to take knowledge-based ideas to the market. The first semester involves role play and group work, as students from day one work on an idea. The University of Tromsø uses real ideas, real investors, and real idea providers as parts of the role play. The Lab will teach students how to protect their ideas and transform them into viable business. During this process, students interact extensively with classmates, successful entrepreneurs, and others in science and industry important to starting their own business, with lecturers coming from both the University and the business community. An important part of this semester is learning how to write a business plan for the given idea and presenting it to potential investors.

Second Term

Students transition in the second term from the BCE-lab to idea generation. During the course "Idea evaluation and strategy ", one of three options are pursued:

  • Developing their own idea. In developing their idea, the student can use UiT campus and all the faculties as a "laboratory". They can also search for input in other milieus. The students who choose this option will require the most entrepreneurial skills. If appropriate, an advisory team will be set up.
  • Working on potential entrepreneurial ideas from the idea bank. Ideas in the bank come from scientific environments in the Tromsø region, primarily from the University, but also from the University Hospital, NORUT and other affiliated researched facilities. Students choosing this option will learn how to work with scientific inventors. Ideas in the bank will have been evaluated by Norinnova Technology Transfer, who will assist the students together with advisor form the BCE staff.
  • Collaborating with an established company in Norway on creativity and innovation projects. Students will work side-by-side with BCE staff and industrial managers to devise innovative, human-centered solutions to real business problems using the design-thinking methodology. They will do in-depth field research, brainstorm, prototype, and eventually test their solutions in a team setting. They can also work on innovation projects from organizational, strategic, and market-related perspectives.

Third and Fourth Terms

The students apply the knowledge from their courses in the second and third term on the chosen entrepreneurial idea or company innovation project. The students bring the idea or innovation project as a case in the courses, as they continue to refine their ideas and projects, while learning in a highly active and participatory environment.

The fourth term is devoted to writing the Master thesis. During this term, much effort is also put in enhancing students¿ presentation techniques and presenting their work to external stakeholders. While writing the Master¿s Thesis, students are given close supervision by the professors. Regardless of the option chosen, the thesis uses theory and analysis to develop the student¿s projects.

The BCE program is a business oriented, group based study program within an international learning environment.

The BCE program:
First year - learn how to do it
Second year - do it!

Contents

Programme structure

First term (autumn)

  • BED-3025 Intellectual Property Strategies
  • BED-3024 Design of technological innovations and markets
  • BED-3028 Venture Creation

Second term (spring)

  • BED-3031 Entrepreneurial Financial Management
  • BED-3048 Corporate Entrepreneurship
  • BED-3029 Idea Evaluation and Strategy

Third term (autumn)

  • BED-3035 Commercialisation and Internationalisation
  • BED-3030 Entrepreneurial Leadership and Teams
  • BED-3047 Entrepreneurial Networking and Methods in Writing BCE Master Thesis

Fourth term (spring)

  • BED-3905 Master`s Thesis in Business Creation and Entrepreneurship

Learning outcomes

After completing the study programme, graduates should have advanced and thorough knowledge of relevant theories, methods, conceptions and scientific approaches to business creation, innovation and entrepreneurship. Those who complete the study programme are expected to have achieved the following learning outcomes, defined by following key areas; general competence, knowledge and skills:

Knowledge:

  • Have extensive and broad knowledge about theory and methodology related to entrepreneurship and innovation.
  • Have thorough and specialized high-level knowledge related to intellectual property strategy, commercialization, leadership, networking, entrepreneurship, intrapreneurship and corporate finance.
  • Have a broad knowledge of cutting-edge creativity and innovation processes such as design thinking and design-driven innovation.
  • Have deep knowledge of innovative business model development, not only in the scientific realm, but also in broader goods and services industries.

Skills:

  • Be able to analyze and be critical to relevant sources of information and use this to structure and frame scientific argumentation.
  • Be able to conduct independent assessments and to develop projects while under supervision.
  • Be able to present ideas, issues, analysis and conclusions related to the program¿s profile to both specialists and the general public.
  • Be able to carry out an independent research and development project, while under supervision and in accordance with existing research-ethical standards.
  • Construct knowledge-based business and ventures by working with complementary competencies, integrating technological, economic, managerial and legal knowledge and understanding on innovations, products, ventures and markets in different areas.
  • Navigate and interact with regional innovation systems and regulatory structures.
  • Manage small scale projects with growth potential effectively and under time constraints.
  • Manage and lead complex innovations as well as teams in interaction with research, market assessment and product development.
  • Be able to think through and develop highly innovative business models through brainstorming, bodystorming, roleplaying, visualization, and ethnographic-research techniques.

General competence:

  • Have acquired a deep and specialized expertise in the following disciplines: entrepreneurship, intrapreneurship, innovation and creativity.
  • Have sufficient basis to participate in research projects and to advance to PhD. studies in entrepreneurship and innovation.
  • Have the competence to analyze problems that require skills at a high level.
  • Be able to apply their knowledge and skills to establish knowledge-based businesses, as well as perform advanced tasks and projects within venture creation.
  • Have developed an understanding for human-centered design processes that can help develop cutting-edge goods and services that address important human needs.

Requirements

Special entrance requirements: Students have to hold a bachelor degree (180 ECTS) in one of the following disciplines: Business, Management, Marketing, Computer Science, Information Technology, Engineering, Electrical engineeing, Physics, Health, Energy, Fisheries or Biotechnology. Students applying for admission must have a grade point average of minimum C.

Applicants who pass the general entrance requirements will receive a questionnaire by e-mail and contact information of two references will be asked. The final part of the application process consists of a personal interview on Skype, testing the applicant¿s ability to communicate in English his/her ideas, accomplishments, decisions and experiences in a reflective and structured manner. These items will be used to rank the applicants.

English Language Requirements

IELTS band: 6.5
TOEFL paper-based test score : 580
TOEFL iBT® test: 85

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