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Master in Entrepreneurship

Master in Entrepreneurship Program:
Preparing you for an innovative career.

The Master in Entrepreneurship (MiE) Program is designed for graduates who would like to start their own business, have an innovative career in various companies or start-ups, or manage a family business. You will experience a unique program covering business functions, innovation, product development, and technologies, including field trips to entrepreneurial hubs such as Berlin and Düsseldorf.

MiE curriculum

Our curriculum –
Learn more about our program structure

The full-time, English-taught degree program targets bachelor graduates with a degree in a business-related field of study, as well as graduates from STEM or other subjects who demonstrate an appropriate background in entrepreneurship-related areas, e.g. through electives, their thesis, or practical exposure.

The program has two available tracks: 90 credits or 120 credits, lasting 17 or 21 months respectively.  

90 credit track: Students who have completed a bachelor’s degree with at least 210 ECTS credits are able to choose the 90 credit track. This track lasts 17 months and includes a one-week international module, the capstone module.

120 credit track: Students who have completed a 180 ECTS credit bachelor’s degree will join the 120 credit track lasting 21 months. In this track, you will spend your third semester in either the Master or MBA program at one of our 200 partner universities.

The program takes place on campus in Vallendar, in Berlin and Düsseldorf at various start-ups, as well as abroad for international modules.

In addition to participating in a rigorous academic curriculum, you will also have the opportunity to take part in various student-, program-, and career center-organized events, conferences and incubators, such as IdeaLab!, Career Day, Sensability, Euromasters, and many more.

MiE program elements

Fostering your entrepreneurial mindset –
An innovative program designed for your success.

Throughout the program, you will have the opportunity to identify and test your own business ideas while being supported by prominent corporates from the exclusive WHU network. You will also develop specific tools and skills that are particularly relevant for entrepreneurs, such as coding and prototyping.

The elements of the program include:

Students take the following five Core Modules (35 ECTS):

This core course focuses on how corporations can successfully  tap into start-up ecosystem to identify and nurture new growth opportunities.

It includes topics such as:

  • Collaboration with start-ups (selection, deployment, management)
  • Start-up acquisitions (identification, negotiation, integration, post-integration management)
  • Corporate accelerators, incubators, spin-offs and corporate venture capital
  • Developing and attracting entrepreneurial talent
  • Open Innovation

This core course is dealing with all topics that an entrepreneur needs to know to actually start a new venture. 

  • It includes topics such as
  • Understanding problems and challenges as important opportunities
  • Identifying potential business ideas
  • Developing new business models
  • Knowing and applying the current startup tools (canvas, lean startup, pitch decks, etc.)
  • Business Plan and key metrics
  • Surviving the first 100 days of the startup 
  • Scaling for growth

Module decription coming soon

Industrial organization is a field of microeconomics that explores the dynamics of industries and in particular the way firms compete with each other. Therefore, this course focuses on strategic competitive behavior, with special attention being paid to the perspective of newly founded ventures. Within this context we will discuss how to assess entry timing, pricing mechanisms and R&D investments, as well as how regulations impact strategy design. The course uses a mixture of case studies, lectures and guest lectures.

The course gives an advanced understanding on how entrepreneurs should develop their marketing and finance function. 

The course includes the following topics: 

  • Theoretical foundation of entrepreneurial marketing and finance
  • Entrepreneurial marketing strategy and orientation
  • Developing the entrepreneurial marketing approach (4Ps)
  • Entrepreneurial marketing controlling
  • Understanding the entrepreneurial marketing –finance interface
  • Financial planning – the role of uncertainty and how to deal with it.
  • Financing means for entrepreneurs: 4Fs, Business Angels and Venture Capital
  • The role of banks in entrepreneurial finance
  • Exiting the firm: Realizing the business model for equity capitalists

After having taken the mandatory Core Module, students choose 7 Electives. At least four Electives have to be chosen from the following Modules:

The course examines new venture investments from the perspective of a VC investor. 

It includes the following topics:

  • The organization, capitalization and management of traditional corporate and social venture capital firms
  • How VCs compete, make money, and create value for entrepreneurs, limited partners and the economy.
  • How VC firms generate deal flows, screen deals, conduct due diligence and negotiate.
  • How VC firm structure and finance deals (e.g., financing rounds, financing instruments, syndication)
  • VC valuation principles and methods
  • VC negotiations, contracting, term sheets
  • VC management and influence: Post-investment interactions with founders and governance
  • Preparation and heading for exit and exit strategies for VCs. 

This course is as close as it gets to founding your own company. You will work out an idea for a company. You will analyze the market. You will think about your financials, your marketing approach, etc. The class ends with a final pitch in front of a jury with actual VCs, who might be willing to invest into your company right after the course. For some students, the endeavor of founding their own company ends with their final presentation. Others might want to found their company right after WHU. Either way, this course is a great way to get a feeling of what it takes to be an entrepreneur.

In an era of massive IT advances, computational intelligence is swiftly becoming an integral part of modern businesses. This course first builds a firm quantitative basis in business functional areas including procurement, production, and distribution. Students will master necessary technical skills to successfully apply advanced modeling methods. More importantly, this course will provide students with profound knowledge on core enabling technologies in the context of Internet of Things and cloud background. A significant portion of the course will be entirely dedicated to computer simulations, smart computing applications, as well as virtual enterprise experimentation.

This course focuses on key Operations Management topics to support company growth, demand & capacity risk management, closed-loop supply chain logistics and big data analytics for price and sales optimization, assortment planning and staffing.

It includes topics such as:

  • Managing Growth (Strategy Formulation, Cascading, Execution and Alignment; Fair Process Leadership)
  • Managing Risk (Forecasting Basics; Case Study: Canyon Bicycles – Judgmental Demand Forecasting for Online Sales; Efficient Promotion Forecasts; Supply Option Contracts and Portfolios of Contracts; Case Study: Lufthansa Cargo AG – Capacity Reservation and Dynamic Pricing; Hedging Supply Risk with Backup Suppliers; Simulation Game: Global Supply Chain Simulation)
  • Managing Returns (Closed-Loop Supply Chain Management with / without Secondary Markets; Should Customers be Fined for Decision Reversals?)
  • Managing Information (Reactivation of Lapsed Customers; Dynamic Assortment Optimization in Retailing; Optimal Staffing using Big Data Analytics; Data Analytics Simulation: Strategic Decision Making)

Entrepreneurs, apart from their skills as innovators and builders need to be sellers. However, due to all the effort going into the day to day business management, capital acquisition and company building many entrepreneurs overlook the importance of gaining first customers and developing scalable demand from the market. This course is about developing a sound sales and customer acquisition strategy. 

This module will include aspects of:

  • Design and building parts of a sales and customer acquisition strategy
  • Working with sales personnel 
  • Portfolio of sales/acquisition tools and approaches and respective goals/outcomes
  • Overall growth and scaling aspects
  • Important metrics and measurement

This module is about new opportunities and business models in the social field. It will provide students with an alternative to purely profit oriented businesses and introduce a whole new range of options with regards to organizational types, markets, customer segments, and partners. 

It will include aspects, such as:

  • Social Entrepreneurs – their characteristics, motives and ambitions.
  • Social Business models, ranging from purely donation based over hybrid to purely commercially oriented forms. 
  • Emerging markets and their opportunities for entrepreneurs.
  • Doing business at the bottom of the pyramid (products/services, processes, partners, fairness, trust, price, etc.)

This module is about entrepreneurship in SMEs and family firms. Students will gather knowledge of how to overcome the challenges of being entrepreneurial in a resource-constrained, long-established business. Moreover, they will learn about harvesting the opportunities of turning an established SME/family firm in an entrepreneurial business. 

It will include aspects, such as:

  • Founder imprinting and path dependencies in family firms and SMEs
  • Transgenerational entrepreneurship and leadership from the family-, individual-, and firm perspective
  • Succession and change
  • Building on family firm-strengths in times of disruptive innovations

Up to three electives can be chosen from the pool of all MSc electives.

We make sure that you experience entrepreneurship from a startup perspective,  corporate perspective, and from the viewpoint of the market and investors. We have designed three special courses held in Berlin and Düsseldorf so that you can personally experience the entrepreneurial ecosystem of WHU in person.

  1. The Startup Perspective – Sprint2Berlin
     
  2. Corporate Perspective – Corporate Entrepreneurship
     
  3. Advanced Marketing and Finance for Entrepreneurs

Coding bootcamp at Le Wagon

WHU has established a partnership with Le Wagon, a leading coding school that provides creative people with the technical skills they need to succeed. As part of the Master in Entrepreneurship curriculum, WHU sponsors 10 selected students to attend Le Wagon's renowned nine-week bootcamp program. The bootcamp fits seamlessly into the Master in Entrepreneurship program, counting as the internship that runs from May after the first year of study.  During the bootcamp, participants will be a part of the perfect developer set-up, learning about software engineering and database architecture, the technical workflow used in successful startups, and gaining experience in tools such as Ruby, Heroku, Stripe, Mandrill, and Algolia in order to deploy an app of their own creation.

Cooperation with Codecademy

While designing the Master in Entrepreneurship curriculum, we sought the advice of a wide range of entrepreneurs and managers to find out what the market was really looking for in terms of skills. Abilities in software development and coding came up repeatedly as necessary for entrepreneurs to succeed now and in the future. Thus, we offer one elective specifically designed to teach these skills, but also have entered a special partnership with Codeacademy, the leading coding platform wordwide.  You will therefore have the opportunity to take Codeacademy courses in addition to your normal WHU lectures, allowing you to learn the programming languages and IT skills that best suit your needs.

The MiE Program also includes an international component, such as the study abroad semester (120 credit track) or the Capstone Module (90 credit track).

Having completed your first two semesters at WHU, you will gain valuable work experience through an internship in Germany or abroad. The Career Center supports you in finding an internship position via a broad range of activities such as individual career counseling, workshops, and company presentations.

As a Master in Entrepreneurship student, you also have the opportunity to work on your own business idea as part of the internship whilst being supervised by our faculty and corporates from the exclusive WHU network.

The master thesis concludes your studies, providing you the opportunity to apply the skills and knowledge you have gained throughout the course of the Master Program. While writing  your thesis, you will be supervised by a WHU faculty member. You may also write your thesis in collaboration with a company.

At the end of the program, students will have the opportunity to present their ideas and business models to German and international investors at a final Demo Day in Berlin.

Learn more:

Don’t miss our Early Bird deadline!

Apply by January 31, 2019 to receive a €90 waiver of the application fee.

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