MSc in Entrepreneurship

Duration: 12 up to 14 months
Application Deadline: Rolling admissions |Upcoming deadline : August 24, 2020
Start Date: September 2020
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 12-month program (working students can extend their studies to 14 months)
  • 15 core modules & 2 workshops
  • 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 2020– 2021

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 2020.


1st Period | September – October

Courses Hours | Credits
Business Economics
28 | 2
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 course employs classical economic as well as game theoretic methodology to study the operation of markets in allocating resources as well as the markets’ impact on managerial decision making. Topics under consideration include the consumer and business behavior, their interacting in competitive and non-competitive markets and the impact of market structure in the company’s managerial decision making and strategies. Furthermore, the course develops thinking frameworks and methods to help participants to accurately assess the macroeconomic environment within which businesses operate and also to identify channels through which this environment influences their managerial decision making.
Financial Accounting
28 | 2
The course explores the ‘art’ of financial accounting / financial reporting.  In particular, the goal of the course is to provide the knowledge and skills required for the understanding and use of financial accounting information for decision making.  Some of the topics covered during the course include: the role and importance of financial reporting, the role of the main players in the accounting communication process, including the management, auditors and stakeholders, the effects of the use of different accounting methods and estimates on the financial statements and the subsequent impact on decision making, ways of analysing, interpreting and evaluating financial statements.  During the course, extensive reference is made to the annual reports of various companies, as well as to accounting scandals (e.g. ENRON), for the facilitation of knowledge and understanding.
Realities of Entrepreneurship
14 | 1
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 Hours | Credits
Managing People & Organizations
28 | 2
The course provides an overview of the core areas of management theory and organizational behaviour with a special emphasis on issues of organizational structures, culture and values, employee motivation and job design, leadership and power, group processes as well as organizational learning and knowledge management. It will help participants understand the complex relation between individuals, groups and organizations and will introduce the concepts and the tools for effective management of the human capital. It will also help them understand how they can become change catalysts by performing their leadership role as managers; how they can manage knowledge; how they can inspire people to put extra effort for achieving the organizational vision and for outstanding performance and results. Through case studies, videos and discussion, students will have the opportunity to exercise their critical thinking and build people management skills by applying organizational theory to a broad range of organizational types, settings, and challenges.
Business Writing & Presentation Skills
14 | 1
Mastering Entrepreneurial Finance
28 | 2
"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 Hours | Credits
Living with Entrepreneurship: Shadowing
14 | 1
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
28 | 2
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
14 | 1
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 Hours | Credits
Entrepreneurial Strategy & International Growth
28 | 2
This course deals with the analysis and creation of business strategy within an entrepreneurial context as well as practices for international growth. 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 need to understand the external environment and the firm’s internal resources and capabilities. We also need to adopt an integrated view of the firm spanning functional areas such as finance or marketing. Finally, we look at issues of effective implementation as many strategies fail in execution. Further, this course focuses on the contextual, strategic and operational issues of an international expansion. We will examine the decisions and management processes of identifying international opportunities, locating foreign markets and developing export business. Key aspects of the course include overseas customer identification, product adaptation, logistics and transportation, product sale, and payment systems. Overall, it seeks to provide students an understanding of Export Management and a theoretical framework for making International Marketing decisions.
Road testing- Feasibility Analysis
14 | 1
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
14 | 1
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.
Creativity & Innovation
14 | 1
Creativity and innovation are career and business imperatives in the fluid and highly competitive economy of the 21st century. The explosion of creative industries in recent decades have turned innovation into a critical success factor in any form of work that involves the imagination, aesthetics, emotion, invention, or/and problem solving. With the advent of the knowledge economy, creativity has also become a cardinal aspect of managerial jobs. Creative problem solving, creative responses to contextual variability, improvisation, and the ability to generate original and bold ideas are defining elements of career success. This course provides students with the knowledge, skills and insights for discovering and practicing creativity in organizations, groups, and one's own career. The fourfold structure of the course entails: (a) cutting-edge knowledge about such topics as developing creative capabilities, managing creative people,  crafting creative work environments, and turning creative ideas into winning innovations; (b) concrete insight on practice through over 100 mini cases, examples and illustrations of creative accomplishment and innovation in business and society; (c) valuable "insider insight" about selected creative industries through direct interaction with guest speakers of notable creative achievement; and (d) practical application and the opportunity to act creatively during the course through brief interactive exercises and a major creative group assignment.

5th Period (end of the 12-month program) | May- June

Courses Hours | Credits
14 | 1
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
14 | 1
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
14 | 1
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.
New Venture Project
28 | 2


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
Reader in Economics at Cardiff Business School view more
Evangelia Baralou Academic Director of the MSc in Tourism Management
Senior Lecturer in Organisation Studies, Open University, UK view more
Associate Professor of International Business view more
Associate Professor of Organizational Behavior & Leadership, NEOMA Business School view more
Alexis Komselis Director ALBA Hub for Entrepreneurship and Development
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
Charalampos Mainemelis Director of the SEV Center of Excellence in Creative Leadership
Professor of Organizational Behavior view more
Director Career and Alumni office view more
Reader in Marketing & Entrepreneurship, Director of MBA Programmes/, Sheffiled University Management School view more
Stefanos Zarkos Associate Dean of Academic Programs, Academic Director of The Alba MBA; MSc in Finance; MSc in International Business & Management; MSc in Business for Lawyers; 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 60%  for MBAs and MSc programs for GMAT ≥ 700

Nielsen Scholarship | MSc in Entrepreneurship

Full scholarship  for The MSc in Entrepreneurship

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.

FPower partial Scholarship

FPower  offers two partial and merit based scholarships

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

Equal Society Scholarships

One full scholarship based on social and economic criteria


To be considered for admission, candidates must:

  • Hold a bachelor’s degree; - Provide evidence of excellent command of the English language;
  • Need to be currently employed or self-employed (valid for the part time mode only) 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 .


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