Sauder is ramping up its efforts to attract entrepreneurially minded MBAs with a new scholarship that ties in seed funding to support the development of new ventures.
The new scholarship offers $15,000 to incoming candidates, and half of that money will be set aside for start-up development.
The scholarship will be available for up to 10 students who choose the Innovation and Entrepreneurship track in the MBA program offered by Sauder’s Robert H. Lee Graduate School. The career track is aimed at students who want to build their own venture and “intrapreneurs” seeking to drive innovation within existing organizations.
“We increasingly see students with work experience, a taste for what’s possible and a desire to create something and make a difference – all of which fits very well with an entrepreneurial future,” says Instructor Paul Cubbon about those who enroll in the Innovation and Entrepreneurship track which he leads at Sauder. “This scholarship will allow MBA students interested in starting a venture to put their classroom knowledge to work immediately, testing their learning in practice.”
The scholarship winners will be able to focus their time developing a venture in the four-month summer period of the program usually spent on internships. Cubbon says this offers them a great chance to pilot a start-up, and either gain traction and momentum, or learn from challenges.
“Either way, they return to school for the last term with rich and extensive applied learning and a much better sense of what they want to do on graduation, who they want to do it with, and why they want to do it,” Cubbon says.
The new scholarship, available for applicants seeking to start in September 2015, ties into an expanding suite of opportunities for new venture creation at Sauder and UBC. Students are also tapping into programs such as entrepreneurship@ubc, which provides a Lean LaunchPad Accelerator program that takes participants from idea to start-up in five weeks. They also access the growing network of Sauder entrepreneurs who are increasingly investing in student ventures and allowing them to tap into their experiences as mentors.
Cubbon says Sauder is committed to helping students carve out their own path in business, and is continually exploring new ways to guide their success.
“With the right training and support, some of the mystery can be taken out of new venture creation – and increased success rates are already being seen,” he says.