The process of designing, launching and operating a new business is referred to as entrepreneurship. Entrepreneurship has been described as the "capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit". A broader definition of the term is used in economics.
An Entrepreneur is an unit which has the ability to find and act upon opportunities to translate inventions or technology into new products. The entrepreneur is able to recognize the commercial potential of the invention and organize the capital, talent, and other resources that turn an invention into a commercially viable transformation or innovation. It employs concepts from finance, management, market and mathematics. The primary focus of it is to generate maximum profit using as few resources as possible.
Business schools require you to give the GMAT which forms the most important part of your application. Few universities also accept GRE scores in place of GMAT scores. They also require a minimum 2-3 years of work experience (depending on the program you intend to join). IELTS or TOEFL is compulsory for acquiring student visa and as a proof of English proficiency.
Various subjects that one may need to study are:
Specialization topics include:
Although the fees vary from university to university, the average tuition cost for masters in Entrepreneurship in the US are $30,000/year. Average living costs vary upto $8900/year. Tuition fees are around C$28000 in Canada. In Australia, average tuition costs are A$38000 / year and the average living costs are A$8,500/year.