LUMS is ranked 1st for Research Power in REF 2021 (Business and Management Studies)
Our MSc Business Innovation and Entrepreneurial Management will give you the necessary skills to become a successful and responsible innovator and entrepreneur. Your learning on this programme will be experiential: you will engage with the latest thinking and have multiple opportunities to apply this in practice.
You will benefit from academic knowledge combined with the experience and expertise of our Entrepreneurs in Residence, a group of business leaders who have successfully started and grown their own businesses. If you want to start your own venture, are looking to assume a leadership role in your family’s business or want to innovate in an existing organisation in any sector, then this is the programme for you.
Learn by doing
We believe that an experiential approach to teaching and learning is the best way for innovators and entrepreneurs to learn. Our modules are designed with the assumption that learning and skill development come from doing.
You will learn how to be creative and innovative in your response to key global issues that require entrepreneurial solutions. You will build your capability to recognise opportunities and make critical decisions on how to best exploit them. In this way, you will develop the confidence and skill to present ideas clearly, negotiate effectively, and convince key stakeholders in high-stakes decisions.
Ideal environment for aspiring innovators
We offer the ideal environment for aspiring innovators and entrepreneurs, emphasising theoretical rigour and practical experience. Lancaster University Management School holds a prestigious Small Business Charter accreditation and is renowned for its entrepreneurial knowledge exchange and small business growth activities.
Entrepreneurs in Residence
On this programme, you benefit from engaging with the latest academic thinking and models delivered by leading professors alongside the practical, real-world experience of innovators and entrepreneurs. You will have access to mentoring, support, and advice from our Entrepreneurs in Residence (EiRs), whether you wish to explore new business opportunities or understand better how entrepreneurs think and act.
Features of the Business Innovation and Entrepreneurial Management MSc programme you should know about:
Entrepreneurial mindset
Enhance your ability to think and act as an entrepreneur.
Entrepreneurs in Residence.
Meet and learn from Lancaster’s 80+ practising entrepreneurs.
Centre for Family Business
Lancaster University Management School is home to one of the top family business research centres globally.
Innovation and sustainability focus
Learn to lead with purpose and create value through innovation and responsible business practices.
Careers
Graduates from this programme have progressed their careers in a wide range of functions and sectors. They have gone on to roles such as Consultant, Business Development Manager, Head of Innovations, and Marketing Manager, and have worked in areas such as operations and pricing strategy. Organisations that have employed this programme’s graduates include:
Santander
The Hut Group
Sage
ChantiQ
Energus
Indonesia Eximbank
NetSuite
Robowealth Mutual Fund Brokerage Securities.
Also, our graduates are perfectly prepared to take up leadership roles in their family businesses or as founders of their own start-ups. If this is your intended destination, our careers team will work with you on your careers profile and how you present yourself to the job market. Our globally-ranked Centre for Family Business provides expertise on how next generation managers can drive continued business success, while our wide business network, Leaders and Residence and Entrepreneurs in Residence can all provide inspiration and career mentoring.
Lancaster University Management School has a dedicated careers team that provides career guidance, support and training for students on MSc Business Innovation and Entrepreneurial Management. The team offers a range of innovative services, including:
embedded careers education throughout the degree programme
career information, advice, and guidance appointments with specialist Careers Coaches
weekly workshops on key employability skills
exposure to international career options and networks
connections to strong networks of employers and alumni
support in finding and acquiring work experience opportunities, including internships
lifelong access to all LUMS Careers services.
Why study MSc Business Innovation and Entrepreneurial Management at Lancaster?
Former student GulAhmed Maqsood talks about why he chose Lancaster, how he was made to feel like part of a community and how his experience has been "life-changing".
Transcript for Why MSc Business Innovation and Entrepreneurial Management?
The reason I came to Lancaster was it's the top university in the North-western region of England. But it's not only about that. I believe this place has a balance of getting theoretical education from a classroom and building that bridge into the real world. When I came here for the first time, it was a cultural shock for me, but I believe that there were people available where I can easily blend into the culture. It's the support that I get. Like when I go to the floor of my department, it's that feeling of support. Even if I'm not talking to someone, if I'm walking the corridor, I know that there is someone behind that door that I can knock and talk to. To describe that it has been lifechanging for me because initially I came here to be an auditor, but it also gave me a chance to work in the real world for full time as two placements, and by the time I reached the end of it I have really discovered that I want to start a company. It also gave me an opportunity to travel as well. So I went to the US. I went to Texas for a 3-day startup conference - Global Roundup. One thing unique about this place is, when you come to study here, it's not only about rules and regulations or theory-based, but it also gives you a taste of the real world in a way that you can see - do you really belong in that field? And there is still time and guidance available, so you can diversify into the field that you really like. Because education is not only about doing what you decided 5 years ago, but it's also about discovering the real you, meanwhile you get from the admission to the degree in this whole year of postgrad.
Entry requirements
Academic requirements
2:2 (UK Hons) degree in any discipline. We are looking for marks consistently at 2:2 level, or higher, throughout your undergraduate studies. We welcome applications from people who have studied a business or management-related subject, as well as engineering, computing, natural or social sciences, arts or any other discipline.
If you do not meet our main academic entry requirements, we may be able to consider your application where you have relevant extensive professional experience. Such experience could include close involvement in a family business, or in your own business venture. If you meet these additional criteria, we would welcome the opportunity to discuss this with you. Please contact us for information.
Additional requirements
Relevant work experience is helpful but not essential.
English language requirements
We require an IELTS (Academic) Test with an overall score of at least 6.5, and a minimum of 6.0 in each element of the test.
If you are thinking of applying to Lancaster and you would like to ask us a question, complete our enquiry form and one of the team will get back to you.
Delivered in partnership with INTO Lancaster University, our one-year tailored pre-master's pathways are designed to improve your subject knowledge and English language skills to the level required by a range of Lancaster University master's degrees. Visit INTO Lancaster University for more details and a list of eligible degrees you can progress onto.
Course structure
We continually review and enhance our curriculum to ensure we are delivering the best possible learning experience, and to make sure that the subject knowledge and transferable skills you develop will prepare you for your future. The University will make every reasonable effort to offer programmes and modules as advertised. In some cases, changes may be necessary and may result in new modules or some modules and combinations being unavailable, for example as a result of student feedback, timetabling, Professional Statutory and Regulatory Bodies' (PSRB) requirements, staff changes and new research. Not all optional modules are available every year.
In this programme, all modules are core and there are no optional modules.
Core
core modules accordion
This module is about the critical choices that organisations face to survive and gain sustainable competitive advantage in an international environment with rapid changes. The module explores strategy: the direction and scope of an organisation over the long term. You will develop an understanding of the environment in which enterprises operate and the creation of value at a business level.
You will experience the full cycle of strategy development including:
analysing industry profitability and external opportunities
appraising value chains and identifying sources of competitive advantage
formulating and evaluating strategic recommendations.
Using a mix of lectures, in-class discussions and group projects, you will gain the ability to apply up-to-date strategy concepts. You will develop skills in processing complex data and convincing others of your analytical insights and recommendations.
This module provides a practical insight into the opportunities and challenges of creating sustainable business models: models that will generate ventures with a high probability of business success and cater to future generations' needs.
The module provides insight into the challenges for start-ups in creating economic value alongside social and ecological value. It will also focus on the challenges and key choices facing organisations that want to scale up and grow their businesses, considering social, regional, and planetary boundaries.
You will be introduced to the sustainable business model canvas, creating lively discussions on future thinking to help consider the opportunities and challenges businesses face.
The Capstone Project is an extended piece of supervised independent research related to your programme in a real-world business context. You will refine your ability to frame and conduct impactful academic or practical research. This module has two components: studying research methods and writing a dissertation or a practitioner-oriented report. You can choose between three assessment formats:
academic dissertation
company-based project
entrepreneurial challenge.
The research methods component of this module equips you with qualitative and quantitative techniques and analytical tools for practical and academic research. You will attend workshops and seminars that provide structured guidance on developing research proposals and ensure you take a focused and methodologically sound approach. Acquiring transferable research skills will enhance your ability to conduct high-quality research, preparing you for academic and professional challenges. The module integrates skills developed across the programme and fosters independent thinking and problem-solving, which are essential for tackling complex business issues.
Design thinking is a human-centred approach to problem-solving that encourages creativity and innovation. It involves understanding user needs, challenging assumptions, and redefining problems to generate fresh, practical solutions. This module provides a deep understanding of design thinking principles and empowers you to apply them across various contexts—from multinational corporations and start-ups to public institutions and non-profits. You will learn to harness creative problem-solving to deliver user-centred solutions addressing strategic and societal challenges.
Through the Innovation Design Challenge, you will tackle real-world problems, collaborate with stakeholders, and develop essential professional skills in leadership, communication, and responsible innovation. The module will guide you in gathering and analysing qualitative and quantitative data, allowing you to critically evaluate innovation processes and develop strategies to drive change and create value. You will explore customer insights, business model development, opportunity appraisal, and feasibility assessment to make informed, strategic decisions in complex, uncertain environments.
An intentional and systematic approach to thinking about your future, aspirations and career is essential to your university learning. This module incorporates professional development into your degree and enhances your readiness for the next step in your career.
The module comprises a short series of connected lectures, workshop sessions, and online learning. You will be required to engage proactively, direct your own learning, and collaborate with others.
Based on the Life Competences framework, LifeComp, the module will help you develop Personal, Social, and Learning to Learn competences. You will build emotional intelligence, self-esteem, and leadership capabilities as well as skills for lifelong learning.
A family business is the most common and enduring business form around the world. This module enables you to grasp the models, theories and tools that will allow you to lead change in a family business. You will study the nature, characteristics and governance of family businesses, focusing on entrepreneurial stewardship and the leadership of change.
This module will benefit students who: a) are members of a family in business; b) will likely find themselves working for a family business; c) might interact with a family business through roles as a consultant or member of the management board. The module includes engaging class discussions, a field trip experience, and interaction with practitioners through business challenges. By exploring case studies developed by the world-leading Centre for Family Business, you will enhance your understanding of stewardship, entrepreneurship and change in the family business context.
This module provides an understanding of financial planning and management in the context of innovation and entrepreneurial projects. The module highlights the process of innovation and new venture financing. There is particular emphasis on the finance needs of development and growth and responses to other managerial contexts. Reflecting the necessities and uncertainties of new ventures, the module emphasises cash flow, working capital management, and investment funding strategies.
You will develop your ability to understand finance in practice. The module is not about the computation or derivation of complex financial numbers. Its mathematical aspects are based on basic arithmetic. You will learn about budgeting, forecasting and diagnosing alongside the financial concepts of costing, pricing, margin control, and managing assets and liabilities.
This module examines the strategic role of innovation in addressing global sustainability challenges and enabling organisations to succeed in an increasingly interconnected and environmentally vulnerable world. It explores how technological, social, and organisational innovation can drive sustainable development, create long-term value, and enhance global competitiveness.
You will engage with advanced theoretical frameworks and real-world case studies. You will use these tools to assess how international innovation strategies are shaped by and respond to global sustainability agendas. Through critical discussion of well-established and emerging theories and case studies, we will investigate the emergence of new geographies of innovation. There will be a focus on the Global South as a source of global innovation and alternative approaches to innovation.
This module combines lectures and seminar discussions to equip you with the analytical and strategic capabilities required to lead innovation for sustainable impact in entrepreneurial organisations, NGOs, and public sector institutions.
Fees and funding
We set our fees on an annual basis and the 2026/27
entry fees have not yet been set.
Additional fees and funding information accordion
Course Costs
Additional local travel costs related to the programme may be required.
There may be extra costs related to your course for items such as books, stationery, printing, photocopying, binding and general subsistence on trips and visits. Following graduation, you may need to pay a subscription to a professional body for some chosen careers.
Specific additional costs for studying at Lancaster are listed below.
College fees
Lancaster is proud to be one of only a handful of UK universities to have a collegiate system. Every student belongs to a college, and all students pay a small College Membership Fee which supports the running of college events and activities. Students on some distance-learning courses are not liable to pay a college fee.
For students starting in 2025, the fee is £40 for undergraduates and research students and £15 for students on one-year courses.
Computer equipment and internet access
To support your studies, you will also require access to a computer, along with reliable internet access. You will be able to access a range of software and services from a Windows, Mac, Chromebook or Linux device. For certain degree programmes, you may need a specific device, or we may provide you with a laptop and appropriate software - details of which will be available on relevant programme pages. A dedicated IT support helpdesk is available in the event of any problems.
The University provides limited financial support to assist students who do not have the required IT equipment or broadband support in place.
Application fees for 2025
For most taught postgraduate programmes starting in 2025 you must pay a non-refundable application fee of £40. We cannot consider applications until this fee has been paid, as advised on our online secure payment system. There is no application fee for postgraduate research applications.
Application fees for 2026
There is no application fee if you are applying for postgraduate study starting in 2026.
Paying a deposit
For some of our courses you will need to pay a deposit to accept your offer and secure your place. We will let you know in your offer letter if a deposit is required and you will be given a deadline date when this is due to be paid.
The fee that you pay will depend on whether you are considered to be a home or international student. Read more about how we assign your fee status.
If you are studying on a programme of more than one year’s duration, tuition fees are reviewed annually and are not fixed for the duration of your studies. Read more about fees in subsequent years.
Details of our scholarships and bursaries for 2026-entry study are not yet available, but you can use our opportunities for 2025-entry applicants as guidance.
MSc Business Innovation and Entrepreneurial Management evolved from our previous programme, MSc Entrepreneurship and Innovation. Our alumni go on to successes in a wide range of organisations.
Lancaster is ranked 13th in the UK and joint 99th globally for Business and Management according to the QS World Rankings by Subject 2025, one of nine subjects at Lancaster to be featured in the top 100 in these prestigious listings.
The information on this site relates primarily to the stated entry year and every effort has been taken to ensure the information is correct at the time of publication.
The University will use all reasonable effort to deliver the courses as described, but the University reserves the right to make changes to advertised courses. In exceptional circumstances that are beyond the University’s reasonable control (Force Majeure Events), we may need to amend the programmes and provision advertised. In this event, the University will take reasonable steps to minimise the disruption to your studies. If a course is withdrawn or if there are any fundamental changes to your course, we will give you reasonable notice and you will be entitled to request that you are considered for an alternative course or withdraw your application. You are advised to revisit our website for up-to-date course information before you submit your application.
More information on limits to the University’s liability can be found in our legal information.
Our Students’ Charter
We believe in the importance of a strong and productive partnership between our students and staff. In order to ensure your time at Lancaster is a positive experience we have worked with the Students’ Union to articulate this relationship and the standards to which the University and its students aspire. Find out more about our Charter and student policies.
