MSc in Entrepreneurship

Duration: 14 months
Application Deadline: Rolling admissions |Upcoming deadline : November 30, 2021
Start Date: September 2022
Fees: € 12,500


This ground-breaking and exciting program develops entrepreneurial skills, knowledge and experience. Changing the rules of the enterprise education game, the degree prepares learners to live, craft, master and create entrepreneurship.

The MSc in Entrepreneurship is built upon the concept of Effectuation, a logic of entrepreneurial expertise that both novice and experienced entrepreneurs can use in the highly unpredictable start-up phase of a venture to reduce failure costs for the entrepreneur.

A new approach to entrepreneurship education. The MSc in Entrepreneurship prepares learners to live, craft, master and create entrepreneurship. It takes place both in the real world of the entrepreneur, and within Alba’s “Business unusual” classrooms. From generating creative ideas to launching innovative “happenings”, from building a strong business model to detailed financial planning, the MSc in Entrepreneurship prepares participants for creating and leading the new ventures of the future. A ground-breaking and exciting program that balances the practice of entrepreneurship with the mastery of core managerial competences.


Key features of the program

  • Weekday classes between 18:00 – 22:00, three times per weeks on average
  • A 14-month program 
  • 18 core modules &
  • Assessment: group reports/presentations, case study analysis, mid-term tests, final exams
  • New Venture project


A Program Designed for those Who: 

  • Have graduated recently and seriously consider an entrepreneurial career.
  • Obtained work experience and wish to make the move from employment to entrepreneurship.
  • Want to enhance their intrapreneurial skills necessary for a successful career in startups and large innovative companies.
  • Are members of their family businesses and they prepare to take on increasing responsibility in the company and pursue growth initiatives.

You may find here more information about the Program's Intended Learning Outcomes.


Current Student Profile


International Recognition: Accredited by The New England Commission of Higher Education (NECHE) 

Alba Graduate Business School is one of the Elite European Schools in entrepreneurship. With a long and successful tradition in the European Business Plan of the Year Competition (EBPYC), and a high number of successful graduate entrepreneurs.

The program draws from the expertise of AHEAD, the Alba Hub for Entrepreneurship and Development, a well-established team within the school which provides a range of support for entrepreneurship, for our students, graduates and other stakeholders.

The innovative combination of practical action learning and classroom education represents the very best international practice in enterprise education.

The MSc will be delivered by highly specialized resident and visiting faculty and guest speakers, including leading global figures from entrepreneurship education, and dynamic young entrepreneurs.

The MSc enhances individual skills, but also pays special emphasis on preparing participants to work outstandingly well with others, through workshops on Emotional Intelligence and Negotiations, as well as extensive team work.


MSc in Entrepreneurship Total Year Schedule 2021– 2022

The school reserves the right to reexamine the structure of all academic programs and proceed to any necessary changes in the total year schedules. Students who wish to attend the 14-month program, will attend the “New Venture Project” during September – October 2022.


1st Period | September – October

Courses Credit Hours
Business Economics

This course concentrates on the economic foundations of management by developing tools to analyze key issues of the industry (Microeconomics) and general economic environment (Macroeconomics) of a company. The first part, Microeconomics, analyses consumer behavior, producer pricing and production decisions under different market structures. The second part, Macroeconomics, studies the operation of the entire economy, analyzing topics such as the determination of aggregate output, employment, inflation, interest rates, exchange rates and other macro variables

Financial Accounting

With the aim of evaluating corporate financial performance and making financially rational decisions, this course introduces students to financial accounting, reporting and analysis. This module aims to develop awareness in students of the way in which accounting is embedded in a particular socio-economic, political and cultural context and challenges the perception that accounting is a purely technical, uninterested and neutral practice. Within this framework, the module seeks to provide students with a broad introduction to the need for external accounting systems, the principles explicit and implicit within such systems, and the strengths and weaknesses in such systems. The module acts both as a standalone and as an underpinning for subsequent modules as required.

Realities of Entrepreneurship

The objective of this course is to assist students begin the process of crafting entrepreneurship, by exploring and engaging with entrepreneurial thinking, opportunities, an unknowable future, and building from strong ideas, within a context of limited resources. The course also addresses the key realities of (affordable) risk, and entrepreneurial failure. Participants will develop an understanding of how to use their commonly available resources to build viable, productive, enduring organizations that create real value. Built upon the radical means-driven approach of effectuation theory, this class challenges learners to think about how they can transform current realities into valuable new possibilities.   They will learn to use commonly available and highly personal resources (their intelligence, insight, energy, initiative, educational background and personal relationships) to create, finance, and build new opportunities of every kind.

2nd Period | November – December

Courses Credit Hours
Managing People & Organizations

From the smaller business to the larger organisation in the global economy, companies depend on the motivation and behavior of people with diverse backgrounds and cultural values that have to work together effectively and efficiently. It is the role of managers to plan, organize, direct and control an organization’s resources in the manner most effective for it to achieve human, organizational and social objectives in a changing environment. This course is built around a participative lecture program that encourages collaborative learning. Each session integrates classical and modern concepts, building on key theories with a rich array of contemporary real-world examples and cases. It combines most recent and prestigious publications that illustrate the core concepts presented in each lecture with videos, group assignments, presentations and role-playing activities.

Business Writing & Presentation Skills

This introductory course outlines the main principles of writing academic and business reports. In this course, a series of activities are used to develop, extend and enhance analytical and synthetical writing skills. The course explains the importance of knowing one’s audience, purpose and subject of a written report. The sequence of steps in writing effectively is analysed. Prewriting, revising and editing techniques are discussed. The process of conducting a comprehensive literature review is outlined, which compares and contrasts relevant studies, in order to create a solid theoretical foundation, upon which one’s own views can be presented and justified. Finally, the importance issue of plagiarism and how to avoid it is discussed.

The workshop on presentation skills teaches you how to prepare and deliver presentations effectively focusing on providing you with the necessary tools that will help you enhance your presentation skills in a face to face and virtual setting. Preparation and delivery techniques are analyzed and emphasis is given on proper structure of content.

Mastering Entrepreneurial Finance

"The objective of this course is to provide students an applied overview of several key areas in accounting and finance including: budgeting and financial planning; cash flow forecast; financial analysis; investment appraisal and deal structuring. This takes place by providing an applied overview of these essential tools, and using the student teams’ own developing plans as the core learning vehicle. Exercises and mini-case studies add further to the breadth of learner knowledge. Upon completion of this course, participants will be well equipped to plan and analyze the financial elements of an entrepreneurial new venture, both in terms of cash and capital, and to build solid financial models which return real investment value to all stakeholders."

3rd Period | January – February

Courses Credit Hours
Living with Entrepreneurship: Shadowing

The objective of this course is to bring students close to established entrepreneurs with the aim to experience their tasks in a natural environment. Learning expectations include critical analysis of entrepreneurship theory, in the light of practice, with special attention being paid to entrepreneurial processes, and networking. Leading theories of entrepreneurship-in-practice will be presented and discussed in the introductory class, as well as methods for recording field insights. A list of entrepreneurs from various areas will be provided by AHEAD, together with their availability. Students will schedule four days of shadowing experiences, and the shadowing of one entrepreneur is limited to a maximum of two days. At the conclusion of the course, students will make class presentations (and complete a written report) which critically examine their experiences from a theoretical and practical perspective.  In addition to “living” entrepreneurship in the field, students will thus also be engaged in applied ethnographic research, and will collectively generate a substantial empirically-grounded body of novel conceptual knowledge.

Marketing Management

The main goal of this course is to provide students with a framework of the theoretical concepts and practical tools of modern marketing. Students will learn how to translate business level goals into marketing strategies. How to use the basic marketing levers (i.e. product/service, price, distribution, marketing communications, and marketing research) to accomplish such strategies. Moreover, they will develop a critical thinking of new trends in marketing management and how they transform established marketing practices. Ultimately they will develop a more concrete understanding of what marketing is and what are its capabilities and boundaries within the contemporary business practice.

Marketing Research & Analysis

This course is about research methods in action where students will learn the basics of research methodology using examples and cases in the context of important strategic marketing phenomena. By putting together important business phenomena in the context of marketing cases, real datasets, analyses, and spreadsheet decision models students will learn to design and implement research projects in a hands-on practical way.

4th Period | March – April

Courses Credit Hours
Strategy Formulation and Implementation

This course deals with the analysis and creation of business and corporate strategy as well as practices for growth of a small firm or even a large multinational corporation. Business strategy formulates the set of objectives and policies that define how a firm positions itself to gain competitive advantage and increase returns for its shareholders. Two questions are of importance, then: “Where should we compete in” and “How should we compete?” In answering these questions, we formulate a plan on a) understanding the firm’s external environment in terms of industry-level competition and the institutional idiosyncrasies characterizing the context of a country and b) screening and diagnosing the firm’s internal resources and capabilities. Further, we look at issues of effective implementation of business and corporate strategies, such as identifying and implementing relevant business models, applying and combining product and market diversification strategy, gaining insights on the increasingly important role of innovation management, and familiarizing ourselves with the contextual, strategic and operational issues of corporate governance. The course offers students the opportunity to work in teams and develop unique case studies for well-known entrepreneurial firms.

Road testing- Feasibility Analysis

The objective of this course is to teach student teams how to “road test” their Lean Start-up Models by carrying out a full feasibility analysis. Using the “Business Plan Road Test” model, teams will develop research plans to investigate industry and market domains, at both micro and macro levels. They will also engage firmly with the internal elements of their venture, considering formally the competences, social and human capital, and motivational aspirations of their entrepreneurial team. After carrying out detailed secondary and primary market research, student teams will assess the financial, strategic, operational and marketing feasibility of their concepts, enhancing still further their business models.

Leadership Development

Management consists of a set of universal skills that are well understood and trainable. Leadership consists of how each one of us makes a unique difference to the challenges we face with people and projects. It is not about wasting our energy trying to make ourselves more effective by changing our characters. Instead, it is more effective to find new and better ways of ‘being ourselves’ through enhanced insight and skill.  The purpose of this course is to assess and improve your readiness to function well as a leader by making your time at ALBA a self-directed journey of learning and development. The specific objectives are to develop an awareness of the knowledge and skills that underlie leadership effectiveness; to obtain individual-level feedback utilizing some of the best existing assessment instruments; to share feedback on your own and others’ skills and to craft a personal leadership development action plan.

Emotional Resilience and Adaptability

In the current work environments that are often characterized by volatility, uncertainty, complexity and ambiguity, the ability to effectively manage emotions, readily adapt and bounce back from adversity is more important than ever for managers. In addition to emotional intelligence skills that have long been recognized as imperative in the workplace, emotional agility, emotional resilience and adaptability emerge as key skills that can help managers navigate current challenges and assist them to build resilient teams and organizations.

This course will examine the role of emotions in the workplace and the processes by which people can identify and manage their emotions constructively. It will further examine the key conditions for human flourishing at work in times of adversity, such as authenticity, a growth mindset, positive psychological capital, grit, compassion and high quality relationships. During the course, special emphasis will be placed on the development of emotional agility, emotional resilience and emotional intelligence competencies such as self-awareness, adaptability, empathy and relationship management. Participants are expected to be open and honest to themselves, the teacher and the fellow students as many of the exercises involve sharing personal feelings, thoughts and experiences.

5th Period | May- June

Courses Credit Hours

In the wide sense of the term, negotiating with others (both partners and rivals) is a necessary feature of all managerial jobs. In this course students are introduced into the fundamentals of effective negotiations: how to think strategically, what tactics to engage in, and what goals to aim at. The objective of this course is to improve participants’ ability to avoid traps in negotiations and help them see their range of rational options (and their ramifications) in particular situations. The course is designed to provide participants a conceptual framework for preparing and conducting negotiation, and to give them some experience in using this framework.

Entrepreneurial Flexibility

The objective of this  intensive workshop is to  introduce the theories and practices required to master the post start-up phase of entrepreneurship, focusing on survival techniques, growth strategies, and modern approaches such as pivoting, and co-opetition. Exit options, and dealing with entrepreneurial failure, will also be covered. The emphasis on the workshop is on combining the latest theory with mini-cases, class exercises, and other forms of real life example. It is anticipated that the content of this class will form an additional conceptual underpinning for the Entrepreneurship Team Field Project.

Preparing the Business Plan

The objective of this course is to provide students with an insight on how entrepreneurs move from feasibility analysis to the actual planning of new ventures. It guides them through the steps required to start a new venture, the assessment of plans for new businesses and the gathering and organization of resources. Sources of financial support, and deal structuring, are an integral part of this course. Successful entrepreneurs share their experiences with students to provide practical knowledge of entrepreneurship. Students are exposed to the conceptual and practical difficulties of new business formation from a legal, financial, and operational perspective. Working in teams to develop a new start up business plan is an integrating feature of the course. Special attention is paid to the preparation of business plans, and their presentation, for specific stakeholder communities.

5th Period | September – October

Courses Credit Hours
Sustainability Business Ethics & CSR

Understanding the ethical basis of human behaviour is of fundamental importance for building commitment to organizational goals and for imparting integrity and a sense of the common good in organizational members. The course examines a broad array of matters relating to ethics, including: individual and organizational obstacles to ethics; ethics information processing methods and judging theories; an action-learning framework for ethics leadership; adversarial win-lose ethics methods; integrative win-win ethics methods; dialogic transcendent ethics method; reflection and developing personal and contingency ethics leadership approaches; developing on ethics leadership action-learning plan. The course focuses also on sustainability, corporate social responsibility and corporate accountability with further emphasis placed on business strategies that aim to create long term value and a positive environmental, social and economic impact. Actionable knowledge is achieved by applying theory in real life situations through critical analysis and debating on prominent cases and in class discussions on current trends and developments on sustainable business activities.

New Venture Project


The Professors

Academic Director
Stefanos Zarkos Associate Professor in the Practice of Finance

Dr. Zarkos has teaching and research interests in the areas of Corporate Finance, Financial Management, Capital Budgeting, Real Options, Management Accounting and Strategy. His research focuses on new applications of real options in management decision making and the development of decision techniques in Corporate Finance and Strategy literature.

alba profile link
Course Faculty
Evangelia Baralou Academic Director of the MSc in Tourism Management
Senior Lecturer in Organisation Studies, Open University, UK view more
Georgios Batsakis Academic Director of the MSc in Internattional Business and Management
Associate Professor of International Business view more
Alexis Komselis Director ALBA Hub for Entrepreneurship and Development
view more
Elena Koltsaki Academic Director of the MSc in Business for Lawyers
Affiliate Professor of Lawyer-Mediator view more
Christos Koritos Academic Director of the MSc in Marketing
Associate Professor of Marketing view more
Kyriakos Kyriakopoulos Academic Director of Executive MBA, Academic Director of Alba - Eurobank MBA in Financial Services
Professor of Strategy and Marketing view more
Director Career and Alumni office view more
Associate Professor in the Practice of Accounting view more
Kostas Tzioumis Academic Director of the MSc in Finance
Associate Professor of Finance view more
Associate Professor of Marketing, The Theodore Papalexopoulos Chair in Sustainability view more
Stefanos Zarkos Associate Dean of Academic Programs, Academic Director of The Alba MBA & MSc in Entrepreneurship
Associate Professor in the Practice of Finance view more


Scholarships Scheme

Entrepreneurship Idea Contest

Αre you a carrier of big ideas? 
Do you wish you could transmit to the rest of the world actionable solutions for the greater good? 
Do you see in the recent COVID-19 crisis an opportunity?
Do you believe that great inspiration can’t be locked down?

If you tested positive on all of the above, then you have the Entrepreneurship virus!

The Alba Hub for Entrepreneurship and Development is rolling out COVIDEA, the Entrepreneurship Idea Contest for young graduates ages 22-27, who aspire to become entrepreneurs and agents of positive change!

For more information about the, the competition guidelines, the selection process and the detailed timeline, please visit the dedicated COVIDEA page!



You can secure pre-approval of your scholarship, before you apply for admission to the MBA or MSc program of your choice.

Apply for scholarship

GMAT Scholarships

Scholarships of 40%  for MBAs and MSc programs for GMAT ≥ 700

SEV (Hellenic Federation of Enterprises) Scholarships

Partial scholarships of 50%  to Small and Medium Enterprises – members of SEV, offered as rewarding services to the members of the Federation.

Theodore Papalexopoulos Scholarships

Partial scholarships,for various programs, based on a combination of academic/professional performance & potential 

Next Generation Family Business Scholarship

Two (2) merit-based scholarships of 50% to a member of the next generation of a family business for several MBA & MSc programs

28th Economia Competition

50% scholarship for spesific MSc Programs to all members of the winning team of the Economia Student Contest


To be considered for admission, candidates must:

  • Hold a bachelor’s degree; 
  • Provide evidence of excellent command of the English language;
  • GMAT tests are optional unless the Academic Committee requires the applicant to take them: in any case, scores of 550 or more (GRE >155) can strengthen your application and help you secure a scholarship.

Candidates must submit:

  • The completed application form, including one recent photograph in jpeg format;
  • Two letters of recommendation in Greek or in English language.
  • Official Academic Transcripts as well as Certified copies of degrees from each undergraduate, graduate or professional degree earned;
  • Proof of competence in the English language (unless schooled in English), e.g. Proficiency or TOEFL or IELTS.
  • Three Essays, as indicated in the Application form;
  • Receipt of the non-refundable application fee's [€60] deposit

Click here to download the details for admission.

To learn more about academic policy, course credit policy, fees policy and rules for student conduct read the Student Handbook .


Get in touch with us
Lia Tsiambousi Program Manager

We urge applicants to request further information or to come for a meeting at our downtown campus, in order to better understand their profile and motivations.

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Tel.: +30 210 89.64.531-8

Fax: +30 210 89.62.139

e-mail: [email protected]

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