World Best Schools For Entrepreneurs, 2016
World Best Schools For Entrepreneurs, 2016
Babson College, Massachusetts a school of 2,200 undergraduates in Wellesley, MA, takes the No. 1 slot in a new ranking of the top undergraduate schools for entrepreneurs, released today by the test prep company Princeton Review in collaboration with Entrepreneur magazine. The ranking includes the 25 schools deemed the best programs for undergraduates and the 25 best graduate programs. I list all 50 below.
Founded in 1919, Babson reorganized itself from a general business school to one focused on training entrepreneurs. Though students are required to take at least half their courses in the liberal arts, they can only earn business degrees upon graduation. (Forbes’ list of top colleges doesn’t include Babson because of its limited degree focus.) All freshmen must take a course called Foundations of Management and Entrepreneurship, where they get a $3,000 loan to start their own business. By the end of the year, they’re expected to pay back the loan, donate any profits to charity, and shut the business down so they can experience the full life cycle of an entrepreneurial venture.
In the No. 2 slot after Babson: Brigham Young University in Provo, UT. With nearly 30,000 undergrads, BYU mainly serves members of the Mormon Church. Students who major in business management can choose an emphasis on entrepreneurship. To earn the degree, they start by taking a course called Entrepreneurial Innovation, where they learn about forming and validating an idea for a business. Next they take a class that teaches them how to put together a business model. The school recently created two short-term “boot camp” courses where students take a class that runs for just one intensive meeting on Saturday. Then they return on a Thursday evening to discuss outcomes. BYU is also home to the Rollins Center for Entrepreneurship and Technology, which offers mentoring and business competitions. One of the contests, called the New Venture Challenge, offers $120,000 in prize money. Forbes ranks BYU at No. 104 on its list of top colleges and No. 8 on its list of colleges with the best value. Tuition at BYU is only $5,000.
No. 3 is the University of Houston, a public research university with 32,000 undergraduates and out-of-state tuition of $8,600. It ranks No. 358 on the Forbes college list. Princeton Review deems it a top school for entrepreneurs because its C.T. Bauer College of Business, which houses the Cyvia and Melvyn Wolff Center for Entrepreneurship, offers a range of courses aimed at training entrepreneurs, including classes on capitalization and funding, and how to write a business plan. Its business plan competition this year will award $6,000 in cash prizes. All of its undergraduate faculty members who teach entrepreneurship have started, bought or run a successful business. Nearly 300 mentors work with students through a school program.
Here are the other 22 top entrepreneurship programs for undergrads:
4. Baylor University
5. Northeastern University
6. City University of New York, Baruch College
7. University of Michigan, Ann Arbor
8. Temple University
9. University of Oklahoma
10. University of Maryland, College Park
11. Miami University, OH
12. DePaul University
13. Syracuse University
14. Loyola Marymount University
14. University of Dayton
16. Belmont University
17. Clarkson University
18. Washington University in St. Louis
19. University of Washington
20. Texas Christian University
21. University of North Carolina at Chapel Hill
22. Lehigh University
23. Monterrey Institute of Technology (Mexico)
24. University of Utah
25. University of Arizona
Among the top graduate programs for entrepreneurship, Harvard Business School is No. 1. All of Harvard’s 1,800 MBA students take a course in their first year called The Entrepreneurial Manager, which uses the case method to teach students how to identify opportunities, garner resources, and manage, expand and harvest value from an entrepreneurial venture. HBS has been teaching entrepreneurship since 1947 when it offered a course to returning World War II vets called Management of Small Enterprises. It now has 33 entrepreneurship-related courses. Over the last five years, HBS graduates have started more than 75 companies and collectively raised more than $1.9 billion in funding.
Babson, No. 1 for undergrads, comes in second place among graduate programs. Its F.W. Olin Graduate School of Business has 970 students who pick from more than 65 entrepreneurship-related graduate courses. Over the last five years, its graduates have started a whopping 550 companies. All of the members of the graduate entrepreneurship faculty have started, bought or run a successful business and some 50 mentors have worked with Olin students through a school-sponsored program.