The best business schools for the increasingly popular entrepreneurial training market are those that do not score highly in the global MBA rankings, according to new research into more than 2,000 schools.
The Princeton Review’s annual survey of the best US business schools that offer programs for entrepreneurial studies was topped by Harvard University – but the majority of programs are from lower global MBA-ranking schools including Babson College which came second-place for entrepreneurship.
The introduction of the rankings in 2006 reflect the growing market for entrepreneurialism at business schools and the gradual shift from traditional corporate jobs into start-up businesses and innovative technology groups such as Amazon and Google.
“The schools in our annual list have ranked high for creating some of the best environments to nurture the pursuit of building a business from the ground up,” said Amy Cosper, VP of Entrepreneur magazine, which jointly published the ranking.
“Formal instruction and mentorship from great minds in business can help leaders prepare for the challenges that come with entrepreneurship.”
Leading business schools have been rolling out more entrepreneurial master’s degrees and incorporating electives into their MBA programs, but the data suggest entrepreneurs are better off at lower-ranking schools – many of which offer cheaper degrees.
Of the 25 entrepreneurial programs ranked by The Princeton Review, just 15 are included in the latest FT Global MBA Rankings. Of those, the majority are from outside the top-25 including the University of Southern California and Rice University.
Robert Franek, The Princeton Review’s senior VP publisher, said that the highest-ranking entrepreneurial business schools all have good faculties, out-of-class learning opportunities and support from alumni networks.
The survey asked school administrators 60 questions covering topics including their schools’ levels of commitment to entrepreneurship inside and outside the classroom; the percentage of faculty, students and alumni actively and successfully involved in entrepreneurial endeavours; and the number and reach of their mentorship programs.
The company also asked business schools about their funding for entrepreneurial studies, and their support for school-sponsored business plan competitions.
Four business schools are new on the postgraduate list including Northwestern University, Baruch College – City University of New York, Syracuse University and DePaul University.
The highest concentrations of entrepreneurial US business schools are in New York, Illinois, Texas and Massachusetts, according to the survey.
“Applicants to each of these schools will have extraordinary opportunities to interact with successful entrepreneurs, learn from outstanding mentors, and hone skills to launch their own exciting businesses,” Robert added.
To see the full list, visit: http://www.princetonreview.com/schoollist.aspx?id=766