A Master of Business Creation (MBC)i s a graduate degree focusing on entrepreneurship and business creation. Unlike a Masters of Business Administration (MBA) which is designed to run an existing business, courses in an MBC program focus on the creation and growth of a new business " startup" during a 1 academic year (9 months) full time immersive program. Those enrolled in an MBC program are know as and referred to as Founders, and work is designed exclusively around creating and building their company. ^[1]

Differentiation

The MBC can be thought of as fitting somewhere between academic programs like the MBA, and startup accelerators. ^[2]

MBC vs. MBA: The MBA is an academic degree focused on student education. As such, the focus is on learning about and understanding know business problems inside existing companies. MBA graduates can effectively be 'plugged in' to any relevant spot inside an organization with a base level of understanding of business operations. Alternatively, MBC graduates are effectively trained to be startup CEOs. ^[3]

MBC vs. Startup Accelerators: The MBC has learned from accelerators and is structured much like one; admissions based on "founders" and can include multiple team members, there's a cohort structure, and the focus is on building a company. However, there are a number of differences. The MBC program makes no hard-money investment and takes not equity stake in the startup. For example: Y-Combinator takes 7% equity and makes a $500,000 initial investment under 2 different deal structures, and Techstars takes 6% equity for a $200,000 investment. ^{[4] [5]} The MBC program provides access to a large number of free resources and services but makes no initial investment and takes no equity position in any startup. However, there is a $5m startup fund that does have the ability to invest in startups that have graduated the program. ^[6]

History

The first MBC program in the United States was created as a partnership between the Eccles Business School Department of Entrepreneurship & Strategy and the Lassonde Entrepreneur Institute at the University of Utah. The program launched in 2019 with the first class graduating in 2020. ^{[7] [8] [9]}

Eccles is a top ranked business school for entrepreneurship. ^{[10] [11]} Business school faculty recognized the need to fill a gap between undergraduate studies in entrepreneurship that focused on starting a business, and a graduate level MBA programs that focused on 'administering' an existing business. Undergraduates who were focused on entrepreneurship had no 'next step' inside of an academic setting. While there were well known " accelerators" like Y-Combinator and Techstars, there was no corresponding academic degree that could utilize the capabilities of academic universities to support new company formation. The MBC was conceived as a way to provide graduate level education and training to entrepreneurs.

A number of professors were instrumental with getting the program off of the ground including MBC Founding Director Jack Brittain, and Troy D'Ambrosio Director of Lassonde Entrepreneur Institute. ^{[12] [13]} They were supported by the dean of the business school at the time, Taylor R. Randall (now President of the University of Utah). ^[14]

1n 2019, the MBC launched as a full time in-person 9 month intensive program.

In 2020, the first cohort of founders graduated.

In 2021, the first international founders and founders from other U.S. universities were admitted. Professors Paul Brown and Taft price were appointed as MBC Program Co-Diretors. ^[15]

In 2022, the MBC added an online 14 month program to expand access worldwide. A $5 million investment fund endowed by the Joan & Tim Fenton Foundation was launched to invest in MBC startup alumni. ^[6]

Accreditation

The Masters of Business Creation (MBC) is an accredited terminal degree, and a professional degree. ^[16]

Admission criteria

As an accredited degree, admission is a multi-step process that includes: admission as to the University of Utah Graduate School as well as the MBC program. ^[1]

Graduate School Admission: In practice, applicants are screened to see if they meet the requirements to be accepted as a graduate student before they are are accepted into the MBC. Once admitted to the MBC they then apply as a graduate student.

MBC Admission: Founders seeking admission into the MBC program must have an existing business at a startup stage where the program and curriculum makes sense. (Startups at the 'idea' stage or startups that are fully developed businesses are not admitted.) Candidates are required to submit a written proposal, which may include a presentation, and interview with the faculty.

Faculty

MBC faculty is a mix of full time academic faculty, adjunct professors, and outside lecturers.

Program objectives

The MBC program is designed to move a company and it' founders from an early startup prototyping and ideation through to initial sales and a replicable business model. ^[1]

The educational objectives of the MBC program differ dramatically from an MBA program and include; complex analysis and problem-solving, fast-cycle-time learning, negotiation, navigating ambiguity, interpersonal business relationships and leadership, emotional intelligence, dealing with setbacks and failures, and leading innovation.

Notable alumni companies

References