Program Description
The Master of Entrepreneurship specialises in providing students with the knowledge and skills needed to:
- develop a full toolkit to build a high-growth start-up company or social enterprise
- develop, 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
The Master of Entrepreneurship is an interdisciplinary University of Melbourne program offering subjects from the Faculty of Business and Economics, the custodial faculty for the degree, as well as the Melbourne School of Engineering.
Who is it for?
Anyone who has great ideas and wants to take it further. This highly practical program is for creative, passionate and driven individuals who want to acquire the skills and knowledge to successfully commercialise products and services in a start-up environment.
This is a bespoke degree for a small select group of students.
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.
Learn at the Wade Institute of Entrepreneurship, a thriving entrepreneurial precinct that brings together smart, curious, and ambitious minds. The Institute is a purpose-built centre designed to encourage collaboration between students, startups, industry and visitors from all around the world.
Where will it take me?
100% of students that graduated in 2016 started a business in Semester 1.
50% either had a business they were working on or had a start-up in the past year.
During the Masters, I had conversations with experienced entrepreneurs and rediscovered my drive to give it another go [after my first business failed]. This time I had the right mix of skillsets, strong networks and knowledge that I’ve built here at Wade. Rosh Ghadamian - 2016 cohort, Corrs Chambers Westgarth Scholarship Recipient.
In the news
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Disruption: An opportunity for growth
In a world that is constantly changing, megatrends such as technology, globalisation, demographics and psychological changes, are having a significant influence on the business models of many industries. As a Strategy and Innovation Consultant with EY, Master of Entrepreneurship alumna, Rosie Downie, helps her clients navigate disruption and understand how they can position their business to benefit from the evolving environment.
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Graduates create robotic arm to aid stroke recovery
University of Melbourne graduates have designed a robotic arm which aids rehabilitation after people have a stroke.
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Five in five with Madeleine Grummet
Self-confessed serial entrepreneur, former journalist and communications strategist Madeleine Grummet was part of the first cohort to take on the Master of Entrepreneurship at the University of Melbourne’s Wade Institute. During her Masters, she co-founded GirledWorld – an education tech company building the next generation of women leaders, entrepreneurs and STEMM champions.
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The 'Mimic' Revolutionising Farming
Entrepreneurs Eleanor Toulmin and Sarah Last are on a mission to revolutionise poultry farming in Australia.
1 year full-time, intensive learning [150 points]
Part-time study is also available for domestic students
The Master of Entrepreneurship is an innovative program consisting of 9 core subjects comprising 2 foundation subjects, 6 entrepreneurship core subjects, 1 capstone subject (25 points) and 2 elective subjects. Beyond the curriculum you'll continue to learn and grow with access to inspiring mentors, a regular speaker series and invitations to networking events.
Complete this short form to:
| Foundation subjects | Points |
|---|---|
| MGMT90222 Foundations of Entrepreneurship Practice | 12.50 |
| MGMT90226 Business Acumen for Entrepreneurs | 12.50 |
| Core subjects | Points |
|---|---|
| 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 |
| Capstone subject | Points |
|---|---|
| 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):
Need help?
Questions about our programs or services? Make an enquiry.
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The Applicant
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*.
* 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.
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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
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Additional Information
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.
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Language Requirements
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.
Need help?
Questions about our programs or services? Make an enquiry.
Fees for Local and International Students
The fees for this degree are listed below, indicative for 2018.
150 point program
1 year full-time
$50,256 AUD*
* The fees displayed are for domestic and international students.
Scholarships
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.
Best Business Case Prizes: One of the prizes is sponsored by Credit Suisse. Credit Suisse is offering a $10,000 prize to a graduates of the Master of Entrepreneurship who effectively pitches their start-up ideas to a panel of investors and leading entrepreneurs.
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.
Faculty of Business & Economics, Graduate Merit Scholarships: 50% fee-remission scholarships based on academic merit. All applicants are automatically considered for this scholarship.
Impact Entrepreneur Scholarship: $25,000 scholarship offered to support an emerging entrepreneur with the potential to positively impact social or environmental challenges. Established by Amanda Coote, co-founder of Forever New, she is also a founding advisory board member of the University of Melbourne’s Impact Entrepreneurship Program, Compass.
Naomi Milgrom Scholarship: a $25,000 scholarship to one woman entrepreneur studying the Master of Entrepreneurship.
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.
Ormond Entrepreneurs’ Scholarship: over $85,000 available to help students of the Master of Entrepreneurship with living and learning expenses.
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 admissions@wadeinstitute.org.au
Four years ago I started my own business that now employs approximately 140 people. Now, I’m ready to expand my business and integrate a technology capability to manage a mobile workforce, and I want to do it more effectively. I want to be able to go further and build faster.
Kassar Taleb - 2017 cohort, Australia Post Scholarship Recipient.
Financial Assistance
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.
Need help?
Questions about our programs or services? Make an enquiry.
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.
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Peter Wade, Entrepreneur and Benefactor -
Professor Michael Vitale providing feedback to the ‘Pocket Change’ group (Garage Project subject). -
L-R: Stephanie Silberberg, Program Manager Georgia McDonald, and Master of Ormond College and the Wade Institute, Associate Professor Rufus Black -
(L-R) Students Upeksha Harshangi Narayana, Sarah Last and Yan Ting Choong at an art exhibition showcasing students personal journey through the Masters of Entrepreneurship
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.
Book a Consultation
Visit the degree's innovative and inspiring home, the Wade Institute, and discuss your start-up goals with General Manager Georgia McDonald. Chat about studying the Master of Entrepreneurship (scholarships, living arrangements, application process, etc.) and your entrepreneurial ambitions.
Speakers
Entrepreneurs and Industry Professionals are always invited to present special seminars. In 2017, the speakers include:
- Cyan Taeed, Co-founder – Envato
- Tom Griffith, Co-founder – Emma & Toms
- Georgia Beattie, Entrepreneur & CEO – Startup Victoria
- Amanda Walker, Co-founder – Lord of the Fries
- Nick Crocker, Partner – Blackbird Ventures
To see the full list, visit the Speakers webpage
Events
The Wade Institute hosts a number of exciting events and forums to give you a taste of what you can expect from WADE. 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
I thought about my experience and decided that if I can work hard for others and earn them money, why can’t I do the same and work hard for myself?
By studying the Masters of Entrepreneurship we’re learning the lessons that people wish they had known before they started. 9 out of 10 start-ups fail so I think that if you can prevent yourself from being in that percentage, you’d be silly not to try. Andrew Rowse - 2016 cohort.
I had a couple of attempts at trying something before, but I consistently came across roadblocks, and it eventually made me realise I needed more training in building an idea. Sarah Last - 2016 cohort, Neville & Di Bertalli Scholarship Recipient.
Need help?
Questions about our programs or services? Make an enquiry.
Application Deadlines
Selection round dates for entry in Semester 1, 2019 (this program has only one intake per year):
| Round | Application Closing Date | Interview Dates* |
|---|---|---|
| 1 | Sunday 8 April 2018 | Thursday 19 April 2018 |
| 2 | Sunday 20 May 2018 | Wednesday 30 May 2018 |
| 3 | Sunday 29 July 2018 | Thursday 9 August 2018 |
| 4 | Monday 19 November 2018** | Wednesday 28 November & Friday 30 November 2018 |
* 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 commence in early February, 2019. For more information on student visas and processing times, please contact the Department of Immigration and Border Protection at www.border.gov.au.
More information
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
Need help?
Questions about our programs or services? Make an enquiry.
Admissions
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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.
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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, 2018:
Round Application Closing Date Interview Dates* 1 30 April 2017 17 May 2017 2 30 June 2017 19 July 2017 3 30 September 2017 11 October 2017 4 27 November 2017** 6 & 8 December 2017
**This round is open to domestic and New Zealand applicants only
5 Monday 8 January 2018 Thursday 18 January 2018 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).
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Do I have to apply separately for entry to Ormond College?
No, the admissions process covers entry to both the program and the College.
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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
- Pharmacist
- Manager of a Bank, Building Society or Credit Union
- Marriage Celebrant (civil or religious)
- Barrister, solicitor or a clerk to a barrister or solicitor
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What is the delivery mode?
This program is offered in part-time or full-time mode for local students and full-time basis only for international students. 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.
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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
- Creating Your Own Enterprise
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.
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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 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.
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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.
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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
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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.
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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. Read these top tips by the Wade Institute to create your video pitch.
Scholarships and Financial Assistance
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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.
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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.
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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.
FEE-HELP
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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.
For further information about FEE-HELP, please refer to the University's FEE-HELP webpage and the Australian Government Study Assist website.
Accommodation
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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.
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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.
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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
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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. 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.
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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.
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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: ent-scm-fbe@unimelb.edu.au. You will need to provide an official and detailed subject outline/s from the year you completed the previous subject/s.
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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.
Graduation
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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.
Need help?
Questions about our programs or services? Make an enquiry.