Frequently Asked Questions

What makes this degree different?

MSIVD is a transdisciplinary degree, erasing traditional academic siloes. Venture development and leadership require a cross-section of knowledge and skill, and thus, the curriculum cuts across business, engineering and design, the three academic disciplines that are most often cited by innovators and leaders as the key to innovation. 

Can you explain what experience-based learning means?

Students are expected to create and develop a start-up venture and defend it. They will go through each step of the process, so that by the time they graduate, they will have lived experience in innovation and venture development. Their work will be honed, tested and challenged by peers, faculty, mentors, venture capitalists and entrepreneurial leaders from within and outside ASU.

I work for a company and am thinking about going back to school. Is this program for me?

Absolutely. This program teaches the process for developing and managing innovation, be it in a start-up (entrepreneurship) or within an existing organization (intrapreneurship). We encourage students who have some work experience and want to expand their horizons in a transdisciplinary program to apply to MSIVD.

What are the admission requirements for this program?

In addition to the MSIVD program requirements, applicants must fulfill the Graduate College admission requirements. Applicants are eligible to apply to the program if they have earned a bachelor’s or master’s degree in any field from a regionally accredited institution. They will need to submit the online graduate application and application fee, official transcripts, professional resume, statement of intent, and proof of English proficiency (international students).

What undergraduate degree is required?

We accept all undergrad degrees. There is no requirement for a degree in one of the three main disciplines of the program – engineering, business or design. In fact, a strength of the program has been the broad range of degrees represented in each of the cohorts.

What degree will I receive?

An MS in Innovation and Venture Development – from the Ira A. Fulton Schools of Engineering, the W. P. Carey School of Business and Herberger Institute for Design and the Arts.

How much will this program cost?

*This is an estimated cost of tuition and university mandatory fees for students enrolled in the one-year MSIVD program. Students admitted to this program should expect to enroll in classes and pay tuition during the fall, spring, and summer semesters of the academic year they attend. This estimate does not include the cost-of-living expenses, health insurance, visa fees, etc.

Are scholarship opportunities available?

Competitive scholarships will be available through the program. Additionally, all students are encouraged to use the ASU Scholarship Search to locate scholarships available to students of The Design School. The MSIVD program also has a STEM designation, which activates expanded benefits for veterans, as well as scholarship programs structured to support students in STEM-related fields.

Can the program be completed on a part-time basis and/or while working?

MSIVD is a full-time one-year graduate degree program and is very challenging. However, the studios and other classes are structured and scheduled to facilitate students who may have full-time jobs.

How is this a transdisciplinary program and what is a “studio”?

MSIVD is a groundbreaking partnership between the schools of engineering, business and design. The curriculum integrates all three, plus more, to provide an extremely well-rounded experience of the process of innovation and the development of a new venture or company. Faculty come from all three disciplines and have worked together to create the curriculum. They often co-teach in the studios. Lecturers from different disciplines and fields also share their knowledge and experience, and executives from the business community are in the classroom every week serving as mentors to the ventures.

Studio-based means the student founders work together on their ventures in a hands-on format, forming small groups to help each other succeed and complete the different phases of innovation and the development of their ventures.

What do we mean by “venture.”?

We define venture in the broadest way possible: start-ups, inside corporations, independent enterprises, for-profit, social ventures, systems, products and services.

Do I need to have an idea for a product or service before applying?

No. In fact, part of the learning is for students to identify a “pain point” and develop an idea that solves the problem. Pain points may come from industry partners, from faculty and from students.

What if I already have an idea I want to work on?

Great! Having identified a problem you want to solve is an important step in the innovation process. But know that MSIVD is not an incubator, where founders and teams that are already working on an idea come for guidance and support. If you have an idea for a new product or service, you will still go through all the phases of the MSIVD learning process; your ideas will be challenged to ensure you have identified a real need, understand your customer, and that you can prototype, test, and, if necessary, refine your solution and develop a realistic venture around it.

Does MSIVD have a global perspective and if so, how?

Yes, ASU has long had a strong global perspective and this program furthers that philosophy. Startups can be working on local, regional, national or international problems. Students in the program have come from all over the world bringing unique insights into some of the pain points in their home countries and regions.

How does this program relate to the other ASU entrepreneurial activities such as Venture Devils etc?

ASU has many resources dedicated to helping develop successful entrepreneurs, as well as providing seed funding through competitions and other avenues. A number of ventures in MSIVD have been awarded funding and other support through ASU’s E&I (Entrepreneurship + Innovation) initiatives. This is a formal multi-disciplinary MS degree.

What was the impetus for the creation of this program? Who determined that there was a need for such a program and how?

There is a growing recognition within the business community that transdisciplinary knowledge and experience are keys to success in a rapidly changing world. Successful entrepreneurs and business leaders have been deeply involved in the development, implementation and funding of this unique program. MSIVD teaches critical thinking skills to make connections, synthesize different perspectives, and acquire new knowledge -- all toward supporting the development of invaluable new solutions to existing problems.

ASU has long had a focus on transdisciplinary learning and MSIVD is an important example of the University’s commitment to that concept.

What types of jobs will graduates of the program likely do?

Because MSIVD graduates define their own ventures, they tend to work at things they love, and bring additional ability to innovate in those fields, to actually enhance and expand them. MSIVD helps you think about your own potential in a fresh, bigger way, then go out into the world prepared to make big things happen.

Graduates from programs that provide real experience in the innovation process frequently get jobs where the mandate is to lead change. They might launch new products or divisions, lead the ‘Innovation Lab’ or other key roles in organizations that are disrupting the status quo.

Are there any specific skills that I should bring to the program?

There are no hard or soft skills that are necessary for starting the program, except for the decision to step outside of your comfort zone with an open mind. During the program you’ll develop the necessary skills to develop a venture, present that venture to the outside world and lead an organization from inception through growth.

Will we have a mentor assigned to my venture?

In addition to faculty members, who offer guidance and direction, the program includes Pro-Teaching assistants, proven innovators and industry experts from different fields, who share their knowledge and experience with the cohort in the studios and are always available to offer advice and opinion. As your venture progresses, you also will have the opportunity to join in various ASU entrepreneurship and innovation programs and funding competitions which often include one-on-one mentoring.

If I create a new venture management team to solve a problem, do all the co-founders have to be enrolled in the MSIVD program?

Everyone in the MSIVD program is expected to care about, and wants to solve, a specific problem. Therefore, it’s likely that co-founders - who care as deeply as you do - may not be enrolled in the program with you. Since the problem-solving process in the MSIVD program is venture-based, we want it to mirror, as much as possible, what happens in the real working world – where problems get solved by teams at your kitchen table, in your garage, or at the workplace. And if you need to bring in people from outside the MSIVD program or from within the program, we will help guide you as part of the program’s venture development process.

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