Chicago is a hot spot for entrepreneurs and startups. Not only is it the largest city in the Midwest, but it also offers a ton of great resources for those starting a business, including 1871 and Techstars.
1871 is Chicago’s center for technology and entrepreneurship. Today it is home to more than 400 early-stage startups. Techstars is an accelerator program that has helped over 750 companies with more than $2 billion in funding.
But it’s not just the city that offers resources to entrepreneurs—it’s also the universities. Chicago is home to a wealth of top-notch business schools, and for MBAs, there are a few programs that stand out.
Kellogg School of Management at Northwestern University
Named by Entrepreneur Magazine as one of the top 25 graduate schools for entrepreneurship, the Kellogg School offers MBAs an exceptional education in starting a business:
- 67 percent of the graduate entrepreneurship faculty have started, bought or run a business.
- Kellogg offers 31 entrepreneurship-related graduate courses
- Over the last five years, 109 companies have been started by Kellogg graduates, raising over $151 million in funding.
As for MBAs, they can specialize their education with an Entrepreneurship pathway. The pathway offers students curriculum focused on strategy, finance, organizations and marketing in regards to starting a successful new venture.
MBAs can also participate in experiential learning at Venture Labs. Venture Labs is a quarter-long internship that gives MBAs the chance to work at an incubator, or even develop a startup idea for incubation.
Booth School of Business University of Chicago
Ranked by both Entrepreneur Magazine as well as the Financial Times for offering a top education in entrepreneurship, the Booth School of Business is one of the best in the nation. What makes it stand out?
- Booth offers 30 entrepreneurship-related graduate courses.
- Graduates have started 111 companies and raised $38 million in funding.
- Over 200 entrepreneurship mentors work with students through school-sponsored programs.
At Booth, MBAs can choose to focus their education with an entrepreneurship concentration. The concentration is made up of leading-edge entrepreneurship curriculum that includes all business areas such as marketing, finance, operations and strategy.
In addition to the curriculum, MBAs also have the chance to participate in six unique co-curricular activities. These activities include, but are not limited to:
- The Edward L. Kaplan New Venture Challenge: One of the nation’s premier business plan competitions, which has helped launch more than 40 companies and raised more than $100 million.
- The Polsky Center For Entrepreneurship and Innovation: The Polsky Center is dedicated to driving new venture creation and technology commercialization. Its resources include a co-working space, innovation fund, mentorship opportunity and a state-of-the-art Fabrication Lab.
Quinlan School of Business Loyola University Chicago
MBAs at the Quinlan School can choose to concentrate their education in entrepreneurship. The concentration requires students to take three elective courses—out of a list of ten. The courses cover such topics as micro-enterprise consulting, entrepreneurship, project management and family business.
In addition, MBAs can participate in The Association of Loyola Entrepreneurs, which is an organization focused on building strong relationships among entrepreneurs. The Association holds networking and speaker events, connects mentors with students and creates learning opportunities.
Kellstadt Graduate School of Business DePaul University
The MBA entrepreneurship concentration at Kellstadt is nationally ranked and will prepare students to start and grow their own business. The concentration focuses on the life cycle of developing a business from pre-venture to start-up to growth and maturity. To complete the concentration, students must take three courses out of eight available. Courses include:
- Entrepreneurship and new venture management
- Financing new ventures
- Social enterprise
- Creativity & innovation in business
Beyond the MBA concentration, students can also use the Coleman Entrepreneurship Center. The Center serves as an entrepreneurship hub for all DePaul students, faculty and alumni. It’s also open to the wider Chicago business community. As part of the Coleman Entrepreneurship Center, MBAs can gain real-world guidance on starting and growing a business, find employment and mentorship opportunities at Chicago-area startups and connect with seasoned entrepreneurs.
Liautaud Graduate School of Business University of Illinois at Chicago
At Liataud Graduate School, MBAs can focus their curriculum on one of twelve unique concentrations, including entrepreneurship, which debuted in 1986. The entrepreneurship concentration teaches students how to evaluate the risks and rewards of starting a new venture. It also prepares MBAs for starting their own business by teaching them the necessary skills they’ll need. An example of the types of courses offered includes social entrepreneurship, startup launch, and business models for technology ventures.
MBAs can also join the Institute for Entrepreneurial Studies, which provides a portfolio of diverse programs including classes, workshops, challenges and certificates. A few of the best features of the Institute include the UIC Startup Challenge, the educational programs tailored to address the particular needs of entrepreneurs, and the connections to the Chicago entrepreneur community. The Institute has helped serve over 2000 entrepreneurs, launch over 200 businesse, and secure over $85 million in funding.