Master of Lean Entrepreneurship at Carnegie Mellon University

Carnegie Mellon University

United States of America, Pittsburgh

University Rank:#52

The Lean Entrepreneurship at Carnegie Mellon University is a Master program designed for students who want to build the knowledge and skills required for careers in this field. Delivered on campus at the university's main campus in Pittsburgh , United States of America, the program is taught in English and takes 2 years to complete. Students study in a Full Time environment while preparing for future professional opportunities. The next intake starts on August 22, 2027.

About Master of Lean Entrepreneurship

Lean Entrepreneurship is one of two introductory entrepreneurship courses offered to Tepper School of Business students and to graduate students from other CMU schools and colleges, as places are available. [The other introductory course is Entrepreneurial Alternatives (45806) - this course targets entrepreneurial opportunities that include acquisition of businesses, family enterprises, franchises, social ventures and other means by which entrepreneurial principles may be applied]. Each of these two courses serves as a standalone as an introduction to entrepreneurship, and the courses also provide a background for those seeking an entrepreneurship concentration or an in-depth Track immersion. 45805 emphasizes developing an understanding of entrepreneurial thought, mindset, and action, and then progresses thru idea generation, and screening for patterns to predict success, and which underlie entrepreneurial decision making for enterprise creation and growth. The focus is on identification of recognizing the difference between an idea and an opportunity first. Then we progress on how to develop a competitive advantage and a sustainable business model that creates, captures, and delivers value to the market. High-growth ventures include tech-based ventures, small and medium enterprises (SMEs) with high growth potential, typically ranging from 20% to 50% annually (not "lifestyle" ventures). The course also incorporates some fundamental aspects of building a team and financing the opportunity, whether it is a technology-based, venture capital financed opportunity or other ventures more suitable for alternative financing vehicles. These latter two topics are included in more detail in subsequent courses. The course consists of a series of lectures, readings, cases, and discussions and also includes selected guest speakers/entrepreneurs from time to time. Students form teams that are expected to develop and pitch an opportunity of their choice or one provided by faculty. The course text (Starting Something) provides a "master case" illustrating chronologically the history of a high-growth company from inception to IPO and beyond. This book provides a real world perspective on building a company particularly from the people side, but also covers financing vehicles across the company life cycle. Teaching Objectives - The principal objective is for students to learn how entrepreneurs think, are motivated, and make decisions in entrepreneurial ventures that span from startups to emerging companies to mature companies and also to understand the role of entrepreneurs in the US and global economies. Students are also expected to understand the details and balance of the entrepreneurial process model appropriate for each entrepreneurial venture: opportunity development, resource acquisition (people, partners, financial assets), team development and leadership. Expected Outcomes - Teams will learn how to screen and select opportunities from many ideas that may be available to them, including those that they generate. Each project team will develop an opportunity into a "plan" in the form of a venture opportunity-screening guide (that covers problem, solution, value creation, and a proposed business model), and make a business pitch. It is expected that students will learn how to apply a set of tools that include: Value proposition and Business Model development, SWOT analysis, Porter's 5 Force Model, and Product Life Cycle. We also expose students to the principles of design thinking and agile innovation (including lean startups, agile product development, and outcome driven (or needs-driven) innovation.

Requirements and Admission Criteria for Master of Lean Entrepreneurship at Carnegie Mellon University

Entry Requirements

GPA

3.41 Average

3.43 Median

3.03-3.76

Middle 80%

English Requirements

IELTSMin 7.5
TOEFLMin 102

English Program Requirements

Candidates are required to demonstrate a level of competence in English to meet the admissions requirements of the university. You are required to take a TOEFL, IELTS, or Duolingo exam unless:

You attended an undergraduate institution, earning a bachelor’s degree, where the sole language of instruction was English.
You earned a graduate degree where the sole language of instruction was English. (Although not required, we do recommend that you take the English Language Proficiency exam.)

You must request that the official score be sent from the testing agency to our program for us to verify the score entered into the application. Request that the official score be sent to us using the following codes:

TOEFL Program Code: Institutional Code = 2074; Departmental Code = 02
- Pro Tip: The recommended TOEFL score is 25 on each section of the Internet-based test. The minimum TOEFL scores required to apply for admission are: Reading: 20, Listening: 20, Speaking: 20, Writing: 20
IELTS Program Code: Select Carnegie Mellon and the Tepper School of Business
- Pro Tip: The recommended IELTS score is 7 overall and 7 in each band. The minimum IELTS scores required to apply for admission are: Listening: 7, Reading: 7, Writing: 7, Speaking: 7, Overall Band: 7
Duolingo Program Code: Select Carnegie Mellon University – Tepper School of Business
- Pro Tip: The recommended Duolingo English Test (DET) score is 120 overall

Pro Tip: TOEFL and IELTS scores are valid for two years and must be valid at the time you submit your application.

Pro Tip: If you earned a degree from a non-U.S. institution, your academic documents should state that the sole language of instruction for the entire university was English in order to be eligible for a TOEFL/IELTS/Duolingo waiver. If your academic documents don’t include this, you should upload an official letter from the University Registrar indicating English as the mode of instruction for the entirety of the degree.

Tuition and Fee Information for Master of Lean Entrepreneurship at Carnegie Mellon University

Application Fee 75

Master of Lean Entrepreneurship at Carnegie Mellon University

Carnegie Mellon University

United States of America, Pittsburgh