CEU Business School is further strengthening its commitment to entrepreneurship with a new course designed to give students an immersive, practical experience creating their own companies.
The three-credit course, called ?Developing a New Venture,? takes an advanced, novel approach by placing students in the school?s new incubator, called CEU InnovationsLab. The Lab was created in conjunction with the school?s Innovation and Entrepreneurship Project, which is funded by a $7.55 million grant from CEU Founder and Honorary Chairman George Soros. There, the students learn the skills required to nurture a company, from a concept to a fully functional entity.
The course?s creators are CEU Business School Dean Mel Horwitch, Gyorgy Bogel, professor of management, and Bala Mulloth, assistant professor of entrepreneurship and innovation management and faculty director of CEU InnovationsLab.
?We shaped the course to mirror the process today?s entrepreneurs go through. We also provide students with the professional skills they need in order to create a new venture that is attractive to customers, talented employees and investors,? explains Dean Horwitch.
The course is structured into five phases rather than typical bi-weekly or weekly class sessions. The five phases are Scoping and Viability, Team Creation and Business Plan Development, Building the Organization, Resource Building and Running the Venture, and Final Assessment.
Students self-organize into teams based on the company they want to create. Each "company," goes through the phases at its own pace, much like an actual startup. Professors Bogel and Mulloth, the course?s co-teachers, determine when a company is ready for the next phase. And rather than following a faculty-prescribed class schedule, the teams decide when and for how long they will meet.
The students - in effect - become entrepreneurs in CEU InnovationsLab. They cultivate their ventures with the help of faculty and industry mentors.
Students who successfully complete the fifth phase of the Developing a New Venture course have the option of applying to CEU InnovationsLab. ?Seeding the Lab with these already-tested ventures means that they will enter the Lab at a more mature stage of development, improving their venture?s potential for success and contributing to the entrepreneurial ecosystem that the Lab strives to build,? says Professor Mulloth.
Students are required to be in the Developing a New Venture course for at least one full semester in order to receive credit, but they can continue to work on their companies for a full academic year after they graduate if they wish.
30 students in the executive MBA program began the first iteration of the course in October 2012. In January 2013, the course will be open to the school?s full-time MBA students.
This new incubator-based course, as well as other activities sponsored by the school?s Innovation and Entrepreneurship Project, aim to invigorate entrepreneurship in Budapest and the region.
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Source: http://www.ceu.hu/news/2012-10-12/ceu-business-school-launches-mba-course-to-start-new-ventures
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