The Master of Innovation and Enterprise normally requires 72 units of full-time study (or the equivalent part-time) or 54 units of full-time study (or the equivalent part time) for students who are eligible for Advanced Entry. The course is offered by the New Venture Institute and the College of Business, Government and Law.
Admission requirements
The Master of Innovation and Enterprise requires the completion of 72 units of study. Applicants must normally hold a Bachelor’s degree or equivalent qualification in any discipline from an approved tertiary institution.
Advanced Entry (1.5 years) applicants who have completed one of the following may be eligible to complete a program of 54 units:
- An undergraduate degree in any area and five years of full-time relevant supervisory, managerial or entrepreneurial work experience or
- The Graduate Certificate in Innovation and Enterprise or an approved equivalent qualification.
The Faculty Board may, under certain circumstances and subject to specific conditions, admit others who can show evidence of fitness for candidature.
Course aims
Navigating a future in which constant change and disruption is the new norm requires that we think creatively, innovate constantly and act entrepreneurially.
The Master of Innovation and Enterprise is designed to develop students’ capacity to successfully conceive, build and lead the innovation initiatives, ecosystems and new ventures which will; transform the organisations and industries of today; launch the new ventures, technologies and services of tomorrow and drive a new wave of socio-economic advancement, growth and stability for our shared future.
The Masters takes students beyond the search for new opportunities, to build the global mindset and capabilities required to adopt collaborative, open and emerging market innovation approaches, strategically manage innovation initiatives, develop commercially viable routes-to-market and business models and bring together the networks, support and financial and human resources to successfully launch and scale transformative projects and ventures.
Through a series of immersive learning workshops, in-class activities and “real-world” challenges, students will immerse themselves in advanced concepts and practice of global and disruptive innovation, entrepreneurship and corporate intrapreneurship, strategy and enterprise growth. In addition, students will also gain the interpersonal and communication skills necessary to engage with the business world, including leadership, resilience, collaboration, influencing and presentation skills.
The program provides students with multiple opportunities, both in-country and overseas, to apply their learning in the field and convert opportunities into tangible commercial and social outcomes, either in the form of a new venture launch, a corporate innovation sprint, intensive study tour(s) or industry placement(s). Students will be exposed to the global and local entrepreneurial ecosystem (incubators, accelerators, venture capitalists) and develop networks useful for their entrepreneurial ventures, whether within an existing business or in a new startup. Students will also have access to non-award-based workshops and events with experienced entrepreneurs, innovators and other relevant industry practitioners which provides further reality and rigour to supplement study.
The program caters to a wide variety of individuals, including entrepreneurs, corporate managers and leaders, both in the commercial and not-for-profit sectors, researchers, creative artists and government officers. It will particularly appeal to students seeking to grow or transform an existing business, build an organisation-wide culture of creativity and innovation, launch an innovative new venture or enhance their career prospects
The course aims to provide students with the ability, knowledge and skills in:
- How to strategically apply innovation and entrepreneurship concepts and techniques to drive sector and company transformation and growth
- How to synthesise understanding of industries, trends, and innovation in order to
- generate novel insights and opportunities for sustained competitive advantage
- How to develop and commercialise opportunities that create new value for business, government or not-for-profit organisations
- How to finance and resource entrepreneurial and innovative projects, teams and ventures
- How to lobby for and win stakeholder support for new initiatives and ventures
- How to launch and rapidly scale new initiatives and ventures
- How to embed an organisation-wide culture of creativity, innovation and entrepreneurship
- How to lead collaborative innovation initiatives and build an internal and external ecosystem for co-innovation
- How to lead the transition from rapid to steady growth or vice-versa.
Learning outcomes
Students successfully completing this course should be able to:
- Understand disruptive markets, technologies, and social arrangements
- Understand how disruption and innovation can transform industries and markets and generate new growth
- Develop and apply creativity approaches and tools to real world innovation challenges
- Apply innovative principles to solving organisational and social challenges
- Understand how to identify and pursue opportunities to create new social and economic value
- Analyse and assess the desirability, feasibility and commercial viability of new and disruptive opportunities, build a supporting business case and gain stakeholder buy-in
- Understand market structure and dynamics and design cost-effective go-to-market strategies
- Understand and design business models that transform opportunities into social, cultural and economic value
- Understand how to plan for and manage the piloting and early launch of innovation projects and new ventures
- Understand the demands of investment and investors and design and deliver a compelling pitch for investment
- Design an organisational system in which the activities, resources and teams deliver value to customers in an economically and organisationally sustainable way
- Integrate all course learning into the design of, pitch for, and initial pilot of an organisation that solves a social, economic and/or cultural challenge in an economically and organisationally sustainable way
- Engage with dynamic businesses and entrepreneurs
- Understand the critical indicators of effective and efficient company performance and how they can be applied to manage the transition from rapid to steady growth
- Design and implement a holistic management plan for a new venture
- Develop a deep appreciation of the nuances of a particular organisation, business and/or industry through apprenticeship
- Integrate all course learning into the design of, pitch for, initial pilot of and formal launch of an organisation that solves a social, economic and/or cultural challenge in an economically and organisationally sustainable way.
Program of study