The Master of Entrepreneurship specialises in providing students with the knowledge and skills needed to:
- develop a full toolkit to start a company or social enterprise
- launch and grow innovative enterprises
- successfully commercialise products and services
- develop the know-how in obtaining funding
- acquire business acumen and skills in leading your own business
- achieve financial independence
HOW WILL YOU LEARN?
Highly practical, the teaching will focus on ‘learning by doing’, through activities such as:
- Garage Project, an opportunity for students to fully develop a start-up initiative
- Meeting people in the industry and making connections
- Seminars presented by successful entrepreneurs
- Applying design thinking knowledge to design new products and services
The course will have a maximum of 60 students, ensuring that learning can always be done in small groups with highly personalised attention from our academic experts, and small enough that when entrepreneurs and industry figures join, there is the opportunity to meet them personally.
The subjects are enormously practical and are taught in a highly interactive and hands-on ways. You will find yourself prototyping products, doing in-depth customer research, debating business models and pitching your best ideas.
CRICOS Code: 089646D
Nowhere else has a course quite like this – everything has been thought about – the cohort, the space, the coursework, and the mentors. It is going to be a year of experimenting and trying things out – and I really can’t wait to get started. Eleanor Toulmin - Master of Entrepreneurship
Degree structure and available subjects
CRICOS CODE: 089646D
1 year full-time, intensive learning [150 points]
Part-time study is also available for domestic students
Parkville — Domestic and International students
The Master of Entrepreneurship consists of 9 core subjects comprising 2 foundation subjects, 6 entrepreneurship core subjects, 1 capstone subject (25 points) and 2 elective subjects.
Complete this short form to:
|MGMT90222 Foundations of Entrepreneurship Practice||12.50|
|MGMT90226 Business Acumen for Entrepreneurs||12.50|
|MGMT90229 Entrepreneur Within||12.50|
|MGMT90223 Design Thinking||12.50|
|MGMT90225 Creating a Successful Business Model||12.50|
|MGMT90224 Garage Project||12.50|
|MGMT90227 Entrepreneurial Organisation Foundations||12.50|
|MGMT90228 Managing Growth and Pathways to Market||12.50|
|MGMT90230 Creating Your Own Enterprise||25.00|
Students must select two elective subjects chosen from the recommended lists in either Semester 1, Winter, Semester 2 or other subjects as approved by Program Director.
Chosen from (dependent on relevant background and prerequisites):
Engineering subject options (for students with relevant background and prerequisites):
In order to be considered for entry, applicants must have completed:
- an undergraduate degree in any discipline; and
- response to a structured questionnaire; and
- a 5 minute video pitching why the prospective student should be selected for the Master of Entrepreneurship; and
- an interview for shortlisted candidates only*.
The Selection Committee
In ranking applications, the Selection Committee will consider:
- prior academic performance; and
- response to a structured questionnaire; and
- the video pitch; and
- the interview
The Selection Committee may seek further information to clarify any aspect of an application in accordance with the Academic Board rules on the use of selection instruments.
Applicants are required to satisfy the University's English language requirements for graduate courses. For those applicants seeking to meet these requirements by one of the standard tests approved by the Academic Board, performance band 7.0 with no individual score less than 6 for IELTS, or IBT score 94 with a minimum written score of 27 for TOEFL is required.
* Master of Entrepreneurship candidates will need to be admitted to both Ormond College and the University of Melbourne. The interview for shortlisted candidates will include a component for admission to Ormond College as well as the University.
Fees for Local and International Students
The fees for this degree are listed below, indicative for 2017.
150 point program
1 year full-time*
* Duration indicated is maximum course duration.
** The fees displayed are for domestic and international students.
If you are a domestic student, you may be eligible for financial assistance from the Australian Government. HECS-HELP is a loan from the government that pays for your tuition fees. You don't have to pay anything back until you start work. You may also be eligible to apply for income support via the Government's Austudy/Youth Allowance.
The Naomi Milgrom Scholarship: a $25,000 scholarship to one woman entrepreneur studying the Master of Entrepreneurship.
The Ormond Entrepreneurs’ Scholarship: over $85,000 available to help students of the Master of Entrepreneurship with living and learning expenses.
The Neville and Di Bertalli Scholarship: a $25,000 scholarship for two students whilst studying the Master of Entrepreneurship, with a demonstrated commitment to the agricultural sector.
The Corrs Chambers Westgarth Entrepreneurs’ Scholarship: a $25,000 scholarship has been created to ensure that entrepreneurs with the greatest potential are able to participate in the Master of Entrepreneurship.
Australia Post Scholarship: $25,000 Scholarship for an emerging entrepreneur interested in creating an e-commerce business or an entrepreneur who intends to locate their business in regional or rural Australia.
Faculty of Business & Economics, Graduate Merit Scholarships: 50% fee-remission scholarships based on academic merit. All applicants are automatically considered for this scholarship.
Best Business Case Prizes (2 x $10,000 prizes): The prizes are sponsored by Credit Suisse and CMB. Each sponsor is offering a $10,000 prize to two graduates of the Master of Entrepreneurship who effectively pitch their start-up ideas to a panel of investors and leading entrepreneurs.
You will need to apply separately for these scholarships. Additional financial assistance is also available to any Wade Institute students who are in residence at Ormond College. Please contact the Institute for further information email@example.com
Participating in a course entirely built for you to succeed as an entrepreneur will be a unique experience.
The program is delivered in the incredible settings of the Wade Institute building. Located in the beautiful gardens at Ormond College, it is a cutting-edge learning space that will be your base for an extraordinary year of discovery.
Start-ups start here
Master of Entrepreneurship students bring existing ideas to the program, or develop new ones here. The world-class teaching, support and facilities provided specifically for our students allows them to bring their entrepreneurial ideas to life during the course of their degree.
Read about m-Time, a start-up venture by Master of Entrepreneurship students, Yan Ting Choong and Sarah Agboola or Teenyco, by Master of Entrepreneurship student Bindi Raja, set to revolutionalise the 20-week ultrasound with 3D printing.
Entrepreneurs and Industry Professionals will be invited to present special seminars. In 2016, the speakers include:
- Tom Griffith (Emma and Toms)
- Amanda Walker (Lord of the Fries)
- James Douglas (Newmarket Capital)
To see the full list, visit the Speakers webpage
The Wade Institute also hosts a number of exciting events that are open to the public. For a list of upcoming events, visit wadeinstitute.org.au/events
Learn from the best
Professor Colin McLeod is the program director for the Master of Entrepreneurship. He has a long-term interest in innovation and entrepreneurship, both as an academic and as a founder, investor and board member of several successful start-ups including his current involvement with 5 early-stage companies.
A degree in entrepreneurship needs three things: Relevant content, highly qualified teaching staff with experience as entrepreneurs, and the support of an external network of leading mentors, investors, incubators and entrepreneurs. We are genuinely excited to offer all three to our students – they just need to add their entrepreneurial passion. Professor Colin McLeod
World-renowned visiting professors
Students have access to special classes taught by visiting professors from universities such as Stanford University and Cambridge University - internationally recognised powerhouses in the world of entrepreneurship. Recent visits have included the following experts:
George Foster is the Konosuke Matsushita Professor of Management at the Graduate School of Business at Stanford University. Professor Foster has been at Stanford for over 30 years and is regarded globally as an expert on the growth of early stage companies, valuations and venture capital. He also works extensively with the World Economic Forum and is a member and former Chair of their Global Agenda Council on Fostering Entrepreneurship.
Paul Tracey is Professor of Innovation and Academic Director of the Centre for Social Innovation at the Judge Business School at the University of Cambridge. Professor Tracey is a leading expert on social entrepreneurship as well as the role of clusters and networks in effective entrepreneurship
HEAR FROM THE COHORT
The Master of Entrepreneurship is exciting because it offers the opportunity to develop and practice relevant skills and attitudes, with capable peers who bring knowledge from a diverse range of career backgrounds, leveraging the University network of experienced and successful entrepreneurs for guidance and mentorship in a state of the art facility. Rosh Ghadamian - Master of Entrepreneurship
The Master of Entrepreneurship feels like I've been given a golden ticket to unleash my full potential and make large, positive changes. I've always wanted to be my own boss and walk my own journey. I want to give my startup and entrepreneurial career the best possible start. Yan Ting Choong - Master of Entrepreneurship
Application Closing Dates
Selection round dates for entry in Semester 1, 2018 (this program has only one intake per year):
|Round||Application Closing Date||Interview Dates*|
|1||Sunday 30 April 2017||Wednesday 17 May 2017|
|2||Friday 30 June 2017||Wednesday 19 July 2017|
|3||Saturday 30 September 2017||Wednesday 11 October 2017|
|4||Monday 27 November 2017**||Wednesday 6 December & Friday 8 December 2017|
* Shortlisted students are expected to be available to attend an interview on the above dates. Interviews will be held at The University of Melbourne, Parkville campus.
** Offshore international applicants: Please note that classes for the Master of Entrepreneurship begin during the week commencing 6 February, 2017. For more information on student visas and processing times, please contact the Department of Immigration and Border Protection at www.border.gov.au.
For a step-by-step guide to the process from 'Before you apply' to 'Preparing for study' visit our domestic admissions guide.
The Master of Entrepreneurship means I get to spend an entire year devoted to learning how to develop and facilitate ideas that can change the infrastructure of Australia and the world. The skills I'll develop throughout the degree will enable me to not only build ventures with a heightened level of business acumen, but look at established companies and determine new ways to innovate within them and challenge the way we do business. Sarah Agboola - Master of Entrepreneurship
Am I eligible to apply for the Master of Entrepreneurship?
To be considered for entry, applicants must have completed an undergraduate degree in any discipline.
We do not provide 'pre-assessments', and are unable to give you any indication as to the likelihood of your acceptance into the program until you submit an official application and have your application officially assessed by the selection committee.
When should I apply?
Application deadline for local and international students - Semester 1 (program commences early February).
This program has only one intake per year.
Selection round dates for entry in Semester 1, 2017:
|Round||Application Closing Date||Interview Dates*|
|1||Friday 29 April, 2016||Tuesday 17 May, 2016|
|2||Friday 29 July, 2016||Thursday 11 August, 2016|
|3||Monday 31 October, 2016||Friday 18 November, 2016|
|4||Wednesday 30 November, 2016**||Monday 12 December, 2016|
**This round is open to domestic and New Zealand applicants only
We encourage you to apply as early as possible so you can be considered for scholarships and arrange visas if required.
The selection committee will comprise of senior academic staff from the Faculty of Business and Economics and Ormond College.
*Shortlisted students are expected to be available to attend an interview on the above dates. Interviews will be held at The University of Melbourne, Parkville campus. The preference is for students to attend a face-to-face interview, however, Skype and telephone interviews are possible for applicants who cannot attend an interview in-person. Interviews will be approximately 30 minutes in duration.
Can I apply if I'm in my final semester of my undergraduate course?
Yes, you can apply if you are currently completing your final semester and based on your academic results to date, you may be given a conditional offer. A conditional offer means we are reserving a place for you in the program, pending evidence of a particular result or achievement (e.g. a final academic transcript and statement of completion).
Do I have to apply separately for entry to Ormond College?
No, the admissions process covers entry to both the program and the College.
WHO CAN CERTIFY MY SUPPORTING DOCUMENTS?
When obtaining a certified photocopy, please ensure the following:
- The signature of the person certifying is original
- The person certifying the document must state their title
- There is a statement to say that it is a true copy of the original document
- The certification is dated
- If it is a multi-page document, either each page must be certified or the certification must state the number of pages and each page must be signed by the authority
Common titles of signatories that we accept are:
- University of Melbourne approved Overseas Representative
- Justice of the Peace
- Member of the Police Force
- Legally qualified medical practitioner
- Manager of a Bank, Building Society or Credit Union
- Marriage Celebrant (civil or religious)
- Barrister, solicitor or a clerk to a barrister or solicitor
What is the delivery mode?
This program is offered on a full-time basis only. Classes will be taught on-campus at the Wade Institute which is located at Ormond College in Parkville. Selected subjects are offered in intensive mode and over the summer and winter semesters. Subjects will be taught through workshops, seminars, small group working sessions, practicals and field work and some lectures. The Wade Institute buildings have been purpose built to facilitate these types of high interactive and personal modes of teaching and learning.
How many contact hours will I be required to attend each week?
You will be required to attend between 20 – 25 contact hours per week, including two week-long intensives which will be a unique blend of workshops, seminars and studio style. These subjects will be intensive and immersive!
The two intensive subjects are:
- Foundations of Entrepreneurship Practice – classes, seminars and off-site field trips (including your orientation day) will be held from 9am to 5pm, Monday 6 February to Wednesday 15 February.
- Creating Your Own Enterprise – classes will be held from Monday 10 July to Friday 14 July. Classes will be held from 9am to 5pm every day.
All other subjects will be taught between 10am - 1pm Monday – Friday with regular guest lecturers, workshops and skills-based seminars from entrepreneurs and leading industry figures between 9am and 10am and 1pm - 2:30pm.
Outside those hours you will be very welcome to work at the Wade Institute where everyone will have plenty of room to work.
Who will be teaching the program?
You will be taught by leading faculty from across the University including faculty from Business and Economics, the School of Engineering, the Melbourne Business School and Ormond College. In addition to the university faculty there is a substantial program of guest lecturers and speakers so that you can learn from entrepreneurs and leading industry figures.
Who owns intellectual property (IP) created by students while they are studying the Master of Entrepreneurship?
Intellectual property created by students of the University, will be owned in accordance with Statute 14.1 of The University of Melbourne Statutes.
WHAT ARE THE ENGLISH LANGUAGE REQUIREMENTS?
Applicants are required to satisfy the University's English language requirements for graduate courses. If you have completed a previous degree which was taught and assessed entirely in English, you do not have to undertake a test.
Minimum scores and tests accepted
For English language tests, we require documentary evidence of having obtained the minimum scores within the previous 24 months.
IELTS: 7.0 (minimum score of 7.0 overall with no band less than 6)
TOEFL IBT: Minimum score of 94 and a minimum written score of 27
CAN I APPLY WITHOUT IELTs?
Yes, you may submit your initial application without copies of your supporting documentation (for example: IELTS/TOEFL results), however, your application will be placed on hold and will not be considered until all of the required documentation has been provided.
Only international students are required to submit IELTS or TOEFL results.
What information should I cover in the video pitch?
Your video pitch should be up to five minutes in duration. It should pitch to us why you want to be part of The University of Melbourne Master of Entrepreneurship. Please note, that the selection panel are more interested in substance than style.
Scholarships and Financial assistance
What scholarships are available to students enrolled in the master of entrepreneurship?
Faculty of Business and Economics Scholarships
A number of FBE scholarships are available to outstanding local and international students admitted to the Master of Entrepreneurship. All admitted students will automatically be considered for these scholarships, so a separate application is not necessary.
Wade Institute Scholarships
The Institute has a dedicated scholarship program to help make sure financial need isn't a barrier to high potential entrepreneurs joining the program. These scholarships include the Ormond Entrepreneur's Scholarship and the Naomi Milgrom Scholarship for Women Entrepreneurs. You will need to apply separately for these scholarships. Please express your interest in applying for these scholarships by ticking the relevant box on the application form.
Additional financial assistance is also available to any Wade Institute students who are in residence at Ormond College.
Is income support available for studentS enrolled in the Master of Entrepreneurship?
Unfortunately, income support / Austudy is currently not available to students enrolled in the Master of Entrepreneurship. However, income support may be available in future.
When will I be notified if I have been offered a scholarship or financial assistance?
The Wade Institute will notify you at the time you are given an offer for the program, whether you have been successful in securing a scholarship or financial assistance.
Successful recipients of Faculty of Business and Economics merit scholarships are informed in January – March. Faculty-based scholarships are only granted based on academic merit.
WHAT IS FEE-HELP?
FEE-HELP is a loan scheme from the Australian Government that assists eligible fee-paying students (both full-time and part-time) to pay their tuition fees. FEE-HELP can cover all or part of a student's tuition fees. The Australian Government pays the amount of the loan directly to the University. Students then repay their loans through the Australian taxation system when their income is above the minimum repayment threshold.
If you are an Australian citizen or holder of a permanent humanitarian visa, you are eligible for FEE-HELP assistance.
Can I be a resident at Ormond College if I am admitted into the Master of Entrepreneurship?
Yes, students admitted to the Master of Entrepreneurship can be a resident at Ormond College. Ormond College has a sizable residential community of students undertaking postgraduate degrees in all fields and dedicate on campus housing options including self-contained apartments, rooms in historic 19th Century houses and on-suite rooms in recently built graduate buildings. If you are interested in being a resident at Ormond College, you will need to indicate this by ticking the relevant box in the application form. Ormond College will then contact you to advise you of the next steps.
If I'm a resident at Ormond College can I pay my residential living costs via FEE-HELP?
It is not possible to pay residential living costs via FEE-HELP. However, living in the College especially if you are receiving financial support from the College can be the most cost effective way to live close to the University.
What other housing options are available to me?
For further information about housing options that are available to you, please refer to the Student Housing website: http://services.unimelb.edu.au/housing
Orientation and Enrolment
When will the orientation program be held and what will it involve?
The orientation program will be held in the first week of February before classes commence on the 8th February (orientation dates to be confirmed). The orientation program will be held between Friday 5th February and Sunday 7th February. The program will provide an overview of the course and an opportunity to meet the faculty, fellow students and to be introduced to the facilities of the Wade Institute and Ormond College. The program is a blend of both formal and informal activities including a welcome dinner on the Friday night.
When do I enrol?
Students will be able to enrol online once they have accepted their offer and been admitted into the program. An enrolment session will be held during orientation to assist students with completing their online enrolment.
Enrolment advice and instructions will be emailed to you prior to orientation. You will be able to get your student card after you have completed your online enrolment.
Can I apply for advanced standinG for prior studies?
Yes, you can apply for Advanced Standing if you believe you have previously completed equivalent studies, however, the subjects in the Master of Entrepreneurship are unique, so it's unlikely that you would have previously completed subjects with sufficient overlap. Advanced Standing cannot be granted for work experience.
If you would like to apply for Advanced Standing, please email: firstname.lastname@example.org. You will need to provide an official and detailed subject outline/s from the year you completed the previous subject/s.
Can I take subjects from the Master of Entrepreneuership if i'm not enrolled in the program?
No, unfortunately only students who are enrolled in the Master of Entrepreneurship are able to take subjects from this program.
When will I be eligible to graduate from the Master of Entrepreneurship?
Students who successfully meet all of the degree requirements will be eligible to attend a graduation ceremony in December of the same year, or March of the following year.