Do You Need a Master’s Degree to Become an Entrepreneur?

A 2019 Forbes article reported how a study of more than 150 university incubators and almost 900 companies found that individuals are more likely to succeed as an entrepreneur if they launch their business idea with the help and support of a university-located incubator unit.

In an age where around 100 million businesses are launched every single year, business schools such as IE Business School in Madrid, are creating their own incubators for students to test-run their venture and give them an idea of what it’s like to take an idea from start to finish.

IE Business School boasts a large startup culture with its very own Venture Lab, which offers professional support and resources to help budding entrepreneurs take on their business venture during their studies and use the incubator as a way to test drive it first. 

Almost every single startup will start off with limited resources, so it’s important to know how to plan and make the most of what you do have. The Venture Lab at IE allows students the opportunity to learn how to put together a solid business plan, how to calculate and forecast risks, as well as how to make valid and strategic decisions while learning the principles of innovation, sales and marketing.

Right now, the startup scene can seem even more challenging to navigate than ever before if you have little to no experience, which is why startup incubators like the Venture Lab, play a significant role in exposing students to the realities and complexities of industry while offering a safe space to learn from and evaluate the experience.

The value of a master’s also lies in the various contacts you make and professional relationships you build and establish throughout your degree.

It may be beneficial when it comes to gaining trust and authority from potential stakeholders and clients, while your professors, peers and visiting industry experts are also invaluable when it comes to having a flourishing network.

And what’s more, Small Business Trends reports that a business which has two founders increases the odds of success – so getting to know your peers might just be the key to unlocking future success.