Innovation Management and Entrepreneurship MS

About the Program

When the world changes, you can and must adapt! In these challenging times, innovation is more important than ever, and it is critical that business professionals understand how to creatively solve problems and innovate to turn challenges into opportunities. Innovation and entrepreneurship are ubiquitous in today’s competitive landscape. Firms that sit still are left behind or are disrupted by outside forces as new leaders or entire industries surge ahead. For firms to survive, they must invent groundbreaking new products; think outside the box in order to deliver services with unparalleled value; fundamentally rework their internal activities and processes to create competitive advantage; and reinvent the game by diving into so-called “blue oceans” and “white spaces” with new business models. As open innovation perspectives come to be fully embraced by organizations, entire business ecosystems are fundamentally shifting and competition becomes value chain against value chain, not company against company.

The Master of Science in Innovation Management and Entrepreneurship (IME MS) program teaches students to shift their perspectives to develop a deep understanding of strategy, innovation, creativity and entrepreneurial thinking, as well as to develop relevant management skills necessary to effectively manage innovation in existing companies and/or to successfully found new entrepreneurial ventures. Because a diversity of perspectives and backgrounds enhance creativity and innovation, many of our students have 7 to 15 years of work experience and more, while students applying directly out of undergraduate programs are also welcomed. Transform yourself, your company and your ideas with an MS in Innovation Management and Entrepreneurship.

The IME MS includes 15 credits of electives that allow students to tailor the program to their interests, background and goals. Students can take core MBA courses to fulfill these 15 credits and balance broad business acumen with a deep understanding of innovation and entrepreneurship. Alternatively, they can take other innovation and entrepreneurship courses, consulting courses or other Fox elective courses open to MS students. Finally, students can take up to 6 credits from other graduate programs outside of the Fox School that complement their IME MS coursework and help them achieve their career objectives. This often works well for entrepreneurs looking to launch ventures that require specific expertise or skills taught in other schools and colleges across Temple.

The IME MS is designed for:

Working professionals who want to move into strategic leadership roles.
Entrepreneurs aiming to create high-growth, innovative or technology-focused companies. In March 2021, our first IME MS alum appeared on Shark Tank. Congratulations, Jared!
Mission-driven professionals who want to solve societal problems with multi-bottom-line social impact organizations or nonprofits.
MBA dual-degree students who recognize the important ways that innovative perspectives complement traditional management approaches and who want to differentiate themselves from other graduates.
Undergraduate or graduate students as well as faculty from technical or scientific disciplines who want to develop complementary skills and perspectives in innovation and entrepreneurship, commercialize a technology, or work in R&D/innovation leadership roles.
Students from the arts or other areas interested in launching a freelancing business or entrepreneurial venture or interested simply in learning the business side of creative industries.

Time Limit for Degree Completion: 6 years

Campus Location: Center City, Main, and Online. All courses are offered in both online and hybrid in-person course formats designed to balance efficiency and impact, learning and relevant practice. Classes are scheduled in the evenings and on weekends and designed to meet the working professional's schedule or for a student taking classes full time.

Full-Time/Part-Time Status: The degree program can be completed on a full- or part-time basis. Full-time study requires a minimum course load of 9 credits. Part-time students typically complete the program in two or three years, taking courses as their schedule and finances permit.

Interdisciplinary Study: This uniquely collaborative program includes artists, business people, designers, engineers, lawyers, scientists and professionals from various backgrounds. Courses are taken by Fox MBA, Engineering Management MS, and Bioinnovation MS students and are offered as electives for graduate students across Temple.

The IME MS has been approved as a dual-degree program with all of the Fox School MBA programs. In completing a dual-degree program, students can count up to 15 credits of coursework toward the completion of the two degrees. Students must declare the dual degree prior to graduation from their first degree.

In addition, the IME MS is closely tied to Temple's Innovation and Entrepreneurship Institute (IEI), which offers a wide range of co-curricular programs, mentoring, a members-only co-working space, an accelerator, multiple annual competitions and more.

Areas of Specialization: To ensure maximum flexibility, the IME MS offers a non-concentration option and three concentrations:

Entrepreneurship
Innovation Strategy
Technology and Innovation Management

Job Prospects: Depending in part on their prior experience, degrees and expertise, IME MS graduates are prepared for employment in a variety of areas, such as:

Consultant
Corporate new venture, accelerator/incubator program, and design and innovation group
Entrepreneurial ecosystem as accelerators, incubators, makerspaces or venture capital
Founder and entrepreneur
Innovation and engineering management
Leadership, management and/or strategy position
New product development
Technical sales and strategic marketing
Technology commercialization and scouting

Licensure/Certification: Coursework prepares students to take the New Product Development Professional (NPDP) certification exam offered by the Product Development and Management Association (PDMA). In addition, students have the option to take courses to achieve certification as a Lean Six Sigma Green Belt by the International Association for Six Sigma Certification (IASSC).

Non-Matriculated Student Policy: This program requires the student to be matriculated in the degree program or graduate certificate program.

Financing Opportunities: Merit- and need-based scholarships are available and are awarded based on application strength.

Admission Requirements and Deadlines

Application Deadline:

Fall:

December 15 – Early Admissions Deadline
March 1 – Scholarship Deadline and International Deadline
June 30 – Final Deadline

Spring:

August 1 – Scholarship Deadline and International Deadline
November 1 – Final Deadline

Applicants who have not assembled their complete application for the IME MS program in time for an upcoming application deadline are encouraged to apply to one of our certificate programs. Credits taken in our Entrepreneurship and Technology Commercialization graduate certificate and Innovation Strategy graduate certificate programs can be transferred to the IME MS.

Applications are reviewed as they are received and will be considered after the deadline on a space-available basis.

APPLY ONLINE to this Fox graduate program.

Letters of Reference:
Number Required: 1

From Whom: Professional references from an immediate supervisor, current or past, are preferred. Academic references are acceptable.

Bachelor's Degree in Discipline/Related Discipline: The equivalent of a four-year U.S. baccalaureate degree from an accredited university or college is required. For three-year degrees, mark sheets must be evaluated by WES or another NACES organization.

Statement of Goals: Essay prompts can be found in the online application portal.

Standardized Test Scores:
GMAT/GRE: Scores may be requested based on the applicant's academic and/or professional background. Candidates with an undergraduate GPA below 3.0 are required to submit valid GMAT or GRE test scores. Consult an admissions advisor with any questions.

Applicants who earned their baccalaureate degree from an institution where the language of instruction was other than English, with the exception of those who subsequently earned a master’s degree in a country where the language of instruction is English, must report scores for a standardized test of English that meet these minimums:

TOEFL iBT: 90
IELTS Academic: 7.0
Duolingo: 110
PTE Academic: 68

Resume: Current resume or CV is required.

Interview: An interview is conducted after an application has been submitted and reviewed.

Program Requirements

General Program Requirements:
Number of Credits Required Beyond the Baccalaureate: 30

Required Courses:

Entrepreneurship Concentration

Course List
Code	Title	Credit Hours
Core Courses
BA 5687	Advanced Professional Development Strategies ¹	0
SGM 5137	Entrepreneurial Thinking and New Venture Creation	3
SGM 5139	Lean Entrepreneurship / Innovation: Fast & Frugal Methods to Launch Startups & Test Innovative Ideas	3
SGM 5142	Business Model Innovation	3
SGM 5144	Creativity Unleashed: Harnessing Creativity to Solve Real-World Innovation Challenges	3
SGM 5145	Plan, Pitch, and Fund an Entrepreneurial Start-Up	3
Electives		15
Total Credit Hours		30

May be waived based on prior academic or professional preparation. Consult with the program's Academic Director.

Innovation Strategy Concentration

Course List
Code	Title	Credit Hours
Core Courses
BA 5687	Advanced Professional Development Strategies ¹	0
SGM 5135	Innovation Intelligence: Plan, Build, Protect, and Monetize a Technology / Innovation Portfolio	3
SGM 5138	Global Innovation Strategy: Creating Agile, Innovative, Globally-Competitive Organizations	3
SGM 5142	Business Model Innovation	3
SGM 5144	Creativity Unleashed: Harnessing Creativity to Solve Real-World Innovation Challenges	3
SGM 5148	Open Innovation and Managing Strategic Alliances	3
Electives		15
Total Credit Hours		30

May be waived based on prior academic or professional preparation. Consult with the program's Academic Director.

Technology and Innovation Management Concentration

Course List
Code	Title	Credit Hours
Core Courses
BA 5687	Advanced Professional Development Strategies ¹	0
SGM 5103	Management of Technology and Innovation	3
SGM 5135	Innovation Intelligence: Plan, Build, Protect, and Monetize a Technology / Innovation Portfolio	3
SGM 5139	Lean Entrepreneurship / Innovation: Fast & Frugal Methods to Launch Startups & Test Innovative Ideas	3
SGM 5142	Business Model Innovation	3
SGM 5144	Creativity Unleashed: Harnessing Creativity to Solve Real-World Innovation Challenges	3
Electives		15
Total Credit Hours		30

May be waived based on prior academic or professional preparation. Consult with the program's Academic Director.

Non-Concentration Option

Course List
Code	Title	Credit Hours
Core Courses
BA 5687	Advanced Professional Development Strategies ¹	0
SGM 5142	Business Model Innovation	3
SGM 5144	Creativity Unleashed: Harnessing Creativity to Solve Real-World Innovation Challenges	3
Select three from the following: ²		9
SGM 5103	Management of Technology and Innovation
SGM 5135	Innovation Intelligence: Plan, Build, Protect, and Monetize a Technology / Innovation Portfolio
SGM 5137	Entrepreneurial Thinking and New Venture Creation
SGM 5138	Global Innovation Strategy: Creating Agile, Innovative, Globally-Competitive Organizations
SGM 5139	Lean Entrepreneurship / Innovation: Fast & Frugal Methods to Launch Startups & Test Innovative Ideas
SGM 5145	Plan, Pitch, and Fund an Entrepreneurial Start-Up
SGM 5148	Open Innovation and Managing Strategic Alliances
Electives		15
Total Credit Hours		30

May be waived based on prior academic or professional preparation. Consult with the program's Academic Director.

Other courses may be selected with the approval of the program's Academic Director/Department Chair.

Internships/Externships: Project-based internships, which are undertaken on-site, and externships, which engage the student off-site, are available for students in the IME MS. These can be valuable to those looking to expand their work experience or portfolio as well as for individuals looking to change careers or industries. We typically have more than 40 internships/externships available each academic term across a range of industries and variety of different types of companies.

Culminating Events: Successful completion of coursework is required to earn the IME MS degree.