Master of Science in Technological Entrepreneurship - STEM Designated
Illinois Institute of Technology
USD 1,712 / per credit
Earliest start date
More and more, the creation of societal value and wealth is driven by sophisticated, new technologies—through both the increasing pace of technological change and the effective management of high-growth scaling.
As the only business school in Chicago embedded in a tech-focused university, Stuart School of Business is uniquely positioned to train students with backgrounds in STEM fields to take on key roles in startups and innovative tech companies in this fast-moving, competitive environment.
Stuart’s Master of Science in Technological Entrepreneurship program provides future technological entrepreneurs with the scientific and quantitative managerial skills to successfully engage in entrepreneurial activities, such as developing a business idea, commercializing a technology, or working as an intrapreneur to drive innovation within a tech-based company.
Courses cover essential entrepreneurial skills and knowledge, including but not limited to ideation, market recognition, customer discovery, prototype design, financial modeling, visualization and data analytics, and social media marketing analytics. Throughout the program, you will apply your learning in a capstone project.
Chicago boasts one of the largest innovation ecosystems in the world, and Stuart faculty collaborate closely with the city’s entrepreneurship community to help students develop their professional networks. You’ll also have support through Illinois Tech’s Ed Kaplan Family Institute for Innovation and Tech Entrepreneurship and student entrepreneurship organizations on campus.
Through Illinois Tech’s one-of-a-kind Elevate program, you are guaranteed hands-on experiences, such as internships, throughout your graduate education, as well as personalized guidance from a career adviser, academic mentor, and alumni coach.
Combining interdisciplinary academics with a multi-semester capstone project, the STEM-designated M.S. in Technological Entrepreneurship program develops students’ strategic and quantitative skills in business, design, analytics, and decision-making, and then provide opportunities to apply those skills in real time.
Why Illinois Tech is one of the best value universities in the country
As an Illinois Tech student, you’ll automatically be considered for our university’s generous institutional scholarships. On average, this adds up to a savings of $107,472 on tuition and housing for every student during your four years at Illinois Tech ($134,340 for five years, based on fall 2021 figures).
We’re committed to dramatically reducing the cost of your degree, so you can focus on learning at one of the most dynamic and innovation-driven universities in the country.
Want some more great reasons?
- On top of our institutional scholarship, on average, Illinois Tech awards our students an additional $34,412 each in need-based tuition aid over four years ($43,015 for five years). (among FAFSA filers, fall 2021)
- We’re the #44 Best Value School in the nation (U.S. News & World Report)
- 98% of our students receive some form of financial aid
- The mean starting salary of our undergraduates is $63,938
This is a STEM-designated program, and international graduates of the program are eligible to apply for an extension for Optional Practical Training, which allows selected students to stay and work in the United States for up to three years after graduation.
Scholarships and Funding
Students pursuing the M.S. in Technological Entrepreneurship degree who demonstrate a continuing commitment to innovation are eligible for the Chicago Innovation Scholarship, which awards up to $14,000 for the full two-year program.
The following scholarships for Stuart School of Business graduate programs are awarded upon admission to Illinois Tech. Applicants are automatically considered for the scholarships for which they are eligible unless otherwise stated. Students applying for reinstatement are not eligible for reconsideration of any of the awards listed below.
Students currently receiving the India Online program tuition discount or the Beacon Education program tuition discount are not eligible for the following awards. Awards are also not stackable with other awards unless noted in the description below.
All tuition and fees are subject to revision by Illinois Tech’s Board of Trustees. Please note: If you receive full or partial sponsor financial funding, the scholarship will be removed. Prior to the Fall 2022 term, this award could only be used to cover tuition charges from the Stuart School of Business.
Chicago Talent Pipeline Scholarship
The Chicago Talent Pipeline Scholarship is a partial-tuition scholarship for master’s-level study at Stuart School of Business. The scholarship is awarded to domestic Chicago-area students seeking a master of science degree in finance, financial economics, management science and analytics, marketing analytics, project management, sustainability analytics, and management, or a Master of Management degree. Eligible students must seek to advance their careers in the Chicago-area market. The scholarship is capped at $14,000 per degree and is spread evenly across the courses needed for the degree. This award is deferrable for up to one year. Students seeking joint Stuart degrees are only eligible for one Stuart scholarship.
Chicago Innovation Scholarship
The Chicago Innovation Scholarship is awarded to students enrolled in the Master of Business Administration (M.B.A.), M.B.A. Business Analytics, M.B.A. Quantitative Finance, Master of Technological Entrepreneurship, and Master of Science in Technological Entrepreneurship programs. The scholarship is capped at $14,000 per degree and is spread evenly across the courses needed for the degree. This award is deferrable for up to one year. Students seeking joint Stuart School of Business degrees are only eligible for one Stuart scholarship.
Stuart Doctoral Scholarship
The Stuart Doctoral Scholarship is available for select students pursuing a Ph.D. in Management Science and Analytics. Scholarship values vary; the maximum award is $425 per credit hour, with a maximum of 60 credit hours of coverage. The Doctoral Scholarship can only be applied toward Stuart's tuition charges. This award is deferrable for up to one year. Students seeking joint Stuart degrees are only eligible for one Stuart scholarship.
Stuart School of Business Dean’s Scholarship
The Stuart School of Business Dean’s Scholarship is available for international students pursuing a master’s degree at Stuart, with the exception of students seeking the Master of Public Administration, Master of Business Administration (M.B.A.), M.B.A. Business Analytics, M.B.A. Quantitative Finance, Master of Technological Entrepreneurship, or M.S. in Technological Entrepreneurship degree. The maximum award is $14,000 over the course of one master’s degree. Students can use this scholarship for a maximum of four semesters. Scholarship values vary; the maximum award is $3,500 per semester. This award is prorated based on enrollment, so students will not be able to use their standard semester value if they enroll in fewer than nine credit hours. This award is deferrable for up to one year. Students seeking joint Stuart degrees are only eligible for one Stuart scholarship.
Stuart School of Business M.P.A. Scholarship
The Stuart School of Business M.P.A. Scholarship is available to students pursuing a Master of Public Administration degree. This is a 35 percent tuition scholarship, with a maximum award of $5,393 per semester (for nine credit hours) and $19,734 over the course of one master’s degree. Students can use this scholarship for a maximum of six semesters. This award is prorated based on enrollment, so students will not be able to use their standard semester value if they enroll in fewer than nine credit hours for the semester. This award is deferrable for up to one year. Students seeking joint Stuart degrees are only eligible for one Stuart scholarship.
The Master of Science in Technological Entrepreneurship program combines qualitative and quantitative rigor across academic disciplines including business, design, statistics, analytics, and management science. You will build technology-based managerial and decision-making skills that are applicable across many industries and types of organizations.
The program requires successful completion of at least 33 credit hours. All courses listed are three credit hours each, except as noted. View business (BUS), business administration (MBA), design (IDX), finance (MSF), marketing analytics (MAX), and management science (MSC) course descriptions.
Required; 15 credit hours
- MBA 576—New Technology Ventures
- IDX 560—Introduction to Design Thinking
- BUS 592—Master of Technological Entrepreneurship Capstone (nine credit hours)
Also, select one of the following core courses for three credit hours:
- BUS 510—Strategic Management
- MBA 529—Social Entrepreneurship
Select 15 credit hours (five courses) from the following approved list:
- BUS 550—Business Statistics
- MSF 503—Financial Modeling
- MAX 501—Digital Marketing
- MSC 517—Analytics for Decision Making
- MSC 518—Marketing Research and Engineering
- MSC 655—Visual Analytics—Data Analytics and Visualization
- MSC 616—Social Media Marketing Analytics
- MBA 505—Microeconomics and Game Theory
- MBA 513—Operations and Technology Management
- MBA 532—Artificial Intelligence
Program Tuition Fee
The Master of Science in Technological Entrepreneurship program is ideal for students with backgrounds in science, technology, engineering, mathematics, or other technical fields who are looking to gain the necessary skills in management, design, innovation, and business analytics to launch startups and take on leadership positions in businesses of all sizes where technology plays a central role.