The number of new company enterprises is increasing, 672,890 new companies were formed in the United Kingdom in 2018-2019, [1] a rise of 8.5 % over the previous year and the biggest number of incorporations since 2009-2010.
Entrepreneurial enterprises not only contribute to the economy (over £2 trillion is predicted for the global start-up economy), but they also promote societal change by introducing new goods, services, and experiences.
Turning an idea into a profitable commercial enterprise, on the other hand, is not without risk. With 45% of new businesses failing within the first five years [2], entrepreneurs cannot rely solely on a "good idea."
Building a successful firm from the ground up necessitates a thorough understanding of both business management and how start-ups flourish in the real world.
From concept to business
The utilisation of real-life case studies, which incorporate a variety of mediums such as interviews, films, articles, and photos, is one of the course's primary learning strategies. Students can learn how to advance their own business ideas more quickly by learning from the experiences of other companies and entrepreneurs.
Case studies, which are backed up by research and established business theory, give students a practical real-world edge in their learning that they can easily apply to their own companies.
Professor of Entrepreneurship and Innovation Dimo Dimov adds, "Entrepreneurship is at the centre, and business is covered in a holistic fashion." "The course combines the fundamentals of business and management with an emphasis on entrepreneurship in the context of a systemic firm." The goal is to teach the tools and principles needed to successfully navigate the entrepreneurial process from concept to enterprise."
Experience is a great teacher
Real-world scenarios and shared experience assist aspiring entrepreneurs in gaining a thorough understanding of the problems and possibilities they will face while bringing their business ideas to life.
Students are encouraged to build relationships with course-affiliated entrepreneurs to learn from their personal experiences, which can provide essential insight into how to launch a successful business venture.
The FinTech Innovation Lab, whose mentors, advisers, and experts provide ambitious start-ups three months of mentorship, networking, and assistance to help them refine and test their value propositions, is one example of the work done by the University of Bath. Mentors profit from new insights and signals about the future of the markets, and start-ups benefit from insights from experienced and established professionals in their industry through partnerships like this.
Additional case studies, such as those of ZZish, a start-up that has tapped into a £3 billion market with an innovative educational app, provide insight into all elements of beginning a business, from initial finance to worldwide expansion.
SETSquared, a globally recognised number one Business Incubator that runs a unique enterprise relationship and collaboration with premier research-led UK universities, is also a partner of the University of Bath.
Students can apply their learnings to their own ventures and think about how they can be developed and scaled up over time with the help of organisations like SETSquared and case studies from both established companies and start-ups. It also allows students to critically evaluate essential aspects of their own ideas, such as whether or not there is a market for their product. Do I have a distinct vision for my company? Who are my competitors?
Students get the context and real-world examples they need to confidently answer those all-important questions by hearing first-hand stories from successful innovators like Roderick Beer, MD of the UK Business Angels Association, and Holly Stockbridge-Hodgson. , Change Network Lead at Engie.
grow over the past two decades [4], according to a research from the Global Entrepreneurship Monitor (GEM), and entrepreneurial thinking is becoming a more sought-after ability for both individuals and organisations.
"Organisations are striving to expand or launch new programmes, and they require personnel who can assist them in achieving their goals." When it comes to contributing to both realms of entrepreneurship, both within existing organisations and for people, the institution has a strong track record."
Students who pursue a master's degree in entrepreneurship and innovation gain not just the tools and expertise to foster their entrepreneurial drive and adopt a "big picture" approach, but also the resources and expertise to rapidly accelerate their own business ideas.
Whether you're looking to establish a new business, or drive innovation within your company, our Entrepreneurship Management and Innovation online MSc [5] can help you get there.
To learn more, go to University of Bath [6] to request information, and our admissions team will help answer your questions.