Innovation and Venture Development, MS

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The application period for fall 2024 is now open! The priority application deadline is January 15. Applications submitted by the priority deadline receive the strongest consideration for admission.

Three schools.
One integrated program.
One Year.
Your venture.

Engineering + Business + Design
STEM Certified

Launch a venture while you’re still in school.

Working full-time? Can’t relocate to Tempe?
Attend remotely and graduate via ASU Sync.

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The Master of Science in Innovation and Venture Development (MSIVD) program is a transdisciplinary partnership between three leading schools at Arizona State University:

Ira A. Fulton Schools of Engineering + W. P. Carey School of Business + Herberger Institute for Design and the Arts

The MSIVD learning experience

The MSIVD program features two world-class learning modality options:

  1. ASU Full Immersion Modality:
    Live in-person in Tempe, Arizona, USA
  2. ASU Sync Modality:
    Live online during scheduled course meeting times (Mountain Standard Time, USA)

See MSIVD from the inside.

Meet Jeff Osborne
Advisory Board

Meet Rhett Trujillo

Meet Tom Prescott
MSIVD Founder

Meet Syed Deenah

What's unique about MSIVD?


You will launch a venture while you're in school.

Partnership between three nationally ranked schools

In 2022, Arizona State University ranked No. 1 for innovation for the eighth consecutive year by U.S News & World Report.

Earn your degree remotely via ASU Sync

Join the ASU MSIVD program from anywhere through ASU Sync over Zoom, or in-studio on the ASU Tempe campus. ASU Sync is an ideal option for full-time employees and military professionals who cannot attend in person or relocate to Tempe.

A peerless ecosystem of industry leaders and faculty

Create a network of mentors and advocates.

Leave with the skills of the future, wherever you want to work.

All undergrad degrees are accepted. Students with graduate degrees are also welcome.

No GRE or GMAT test scores required

STEM Certified

STEM logo

A master’s program that delivers what’s been missing from other entrepreneurial programs

Leave with a road map for successful ventures, whether you’re looking to start something on your own or lead innovation inside a large organization. Every project is road tested, with the goal of delivering financial, social and environmental value simultaneously. 

A studio-based, student-centric program

Become an entrepreneur from the day you walk in, working with a small founding team to make things happen. You’ll be in a failure-friendly space with the goal of learning faster. Instructors will help you find the resources needed to achieve your goals.

Venture-based. Learning by doing.

Create, develop and defend your venture, supported by the resources and academic rigor of ASU. Work will be honed, tested and challenged by like-minded peers, mentors, successful venture capitalists and business leaders helping to refine learning and execution.

Have questions?

Schedule a call or Zoom meeting to discuss the program. Our graduate support team is ready to help.

Daniel Salvador
MSIVD Program Coordinator

Studio courses activate the innovation and venture development process.

1 | Discover + Insight

Experience, explore and become immersed in industry or sector customer needs, the competitive landscape and cultural context. Learn where to begin and how to evaluate information while developing insights.

3 | Explore, Fail, Solve

Develop prototypes of a product, service or system using the scrum method in three two-week sprints, including ideation, success indicators, making, testing, evaluation and revision.

5 | Scale

Assess growth opportunities and prepare financial and capitalization plan. Explore diversified products and scaling implications, quality control, risk mitigation strategies and develop your investor pitch.

2 | Problem Reframing

Diagnosing problems, pushing past conventional assumptions to see problems as opportunities for breakthrough solutions.

4 | Business Model

Articulate how the solution will reach customers at a profit. Create a value proposition, supply chain, customer segments, revenue model, key resources, activities, partners and cost structure.

Sample course schedule


  • IVD 525 Fundamentals of Entrepreneurial Leadership (3 credits)
  • IVD 560 Innovation Studio I: Discovery and Insight (3 credits)
  • IVD 561 Innovation Studio II: Problem Reframing (3 credits)
  • Elective (3 credits)


  • IVD 630 Scaling Entrepreneurial Leadership (3 credits)
  • IVD 562 Innovation Studio III: Explore, Fail, Solve (3 credits)
  • IVD 660 Innovation Studio IV: Business Model (3 credits
  • Elective (3 credits)


  • IVD 661 Innovation Studio V: Scale (6 credits)

Intellectual property

Intellectual property is an important concern of the MSIVD faculty and program administrators. So is innovation. Therefore, MSIVD program leaders will aim to help all students, stakeholders, and sponsors understand the basic principles of IP policies within affiliated organizations. In turn, we will help all parties involved make common sense decisions about how to best protect individual and organizational IP interests, while being careful not to stifle innovation and economic development opportunities. In short, the MSIVD program leaders promise to not only educate students about IP best practices, but also to work collaboratively with relevant employers, sponsors, and stakeholders to develop innovative, “win-win-win” IP agreements, which are at the core of many breakthrough innovations.

STEM certification

The degree has a STEM certification, which activates expanded benefits for veterans, as well as scholarship programs structured to support students in STEM-related fields. It also provides international students with a 24-month Optional Practical Training extension beyond the standard 12-month OPT limit.

Frequently Asked Questions

MSIVD is a transdisciplinary degree, erasing traditional academic siloes. Venture development and leadership require a cross-section of knowledge and skill, and thus, the curriculum cuts across business, engineering and design, the three academic disciplines that are most often cited by innovators and leaders as the key to innovation. 

Students are expected to create and develop a start-up venture and defend it. They will go through each step of the process, so that by the time they graduate, they will have lived experience in innovation and venture development. Their work will be honed, tested and challenged by peers, faculty, mentors, venture capitalists and entrepreneurial leaders from within and outside ASU.

Absolutely. This program teaches the process for developing and managing innovation, be it in a start-up (entrepreneurship) or within an existing organization (intrapreneurship). We encourage students who have some work experience and want to expand their horizons in a transdisciplinary program to apply to MSIVD.

Applicants must fulfill the requirements of the Graduate College, the Herberger Institute for Design and the Arts, the Ira A. Fulton Schools of Engineering, and the W. P. Carey School of Business.
Applicants can apply to the program if they have earned a bachelor's or master's degree in business, design, engineering or a related field from a regionally accredited institution.

Applicants must have a minimum cumulative GPA of 3.00 (scale is 4.00 = "A") in the last 60 hours of their first bachelor's degree program, or applicants must have a minimum cumulative GPA of 3.00 (scale is 4.00 = "A") in an applicable master's degree program.

Applicants are required to submit:

  1. graduate admission application and application fee
  2. official transcripts
  3. professional resume
  4. written statement
  5. proof of English proficiency

Additional Application Information

An applicant whose native language is not English must provide proof of English proficiency regardless of their current residency.

The applicant's written statement should describe an instance from the professional background outlining the applicant's use of innovation and entrepreneurial experience.

We accept all undergraduate degrees. There is no requirement for a degree in one of the three main disciplines of the program – engineering, business or design. In fact, a strength of the program has been the broad range of degrees represented in each of the cohorts.

Students will earn a Master of Science degree in innovation and venture development from the Ira A. Fulton Schools of Engineering, the W. P. Carey School of Business and the Herberger Institute for Design and the Arts.

Tuition estimate Fall 2023 admits*: 

AZ Resident = $30,508
Non-Resident = $61,769
International = $69,789 

*This estimate includes tuition, program fees, graduate student support fee and the student-initiated fee. Its does not include, room and board and textbooks. 

Additional tuition information can be found at

Competitive scholarships will be available through the program. Additionally, all students are encouraged to use the ASU Scholarship Search to locate scholarships available to students of The Design School. The MSIVD program also has a STEM designation, which activates expanded benefits for veterans, as well as scholarship programs structured to support students in STEM-related fields.

MSIVD is a full-time one-year graduate degree program and is very challenging. However, the studios and other classes are structured and scheduled to facilitate students who may have full-time jobs.

MSIVD is a groundbreaking partnership between the schools of engineering, business and design. The curriculum integrates all three, plus more, to provide an extremely well-rounded experience of the process of innovation and the development of a new venture or company. Faculty come from all three disciplines and have worked together to create the curriculum. They often co-teach in the studios. Lecturers from different disciplines and fields also share their knowledge and experience, and executives from the business community are in the classroom every week serving as mentors to the ventures.

Studio-based means the student founders work together on their ventures in a hands-on format, forming small groups to help each other succeed and complete the different phases of innovation and the development of their ventures.

We define venture in the broadest way possible: start-ups, inside corporations, independent enterprises, for-profit, social ventures, systems, products and services.

No. In fact, part of the learning is for students to identify a “pain point” and develop an idea that solves the problem. Pain points may come from industry partners, from faculty and from students.

Great! Having identified a problem you want to solve is an important step in the innovation process. But know that MSIVD is not an incubator, where founders and teams that are already working on an idea come for guidance and support. If you have an idea for a new product or service, you will still go through all the phases of the MSIVD learning process; your ideas will be challenged to ensure you have identified a real need, understand your customer, and that you can prototype, test, and, if necessary, refine your solution and develop a realistic venture around it.

Yes, ASU has long had a strong global perspective and this program furthers that philosophy. Startups can be working on local, regional, national or international problems. Students in the program have come from all over the world bringing unique insights into some of the pain points in their home countries and regions.

ASU has many resources dedicated to helping develop successful entrepreneurs, as well as providing seed funding through competitions and other avenues. A number of ventures in MSIVD have been awarded funding and other support through ASU’s E&I (Entrepreneurship + Innovation) initiatives. This is a formal multi-disciplinary MS degree.

There is a growing recognition within the business community that transdisciplinary knowledge and experience are keys to success in a rapidly changing world. Successful entrepreneurs and business leaders have been deeply involved in the development, implementation and funding of this unique program. MSIVD teaches critical thinking skills to make connections, synthesize different perspectives, and acquire new knowledge -- all toward supporting the development of invaluable new solutions to existing problems.

ASU has long had a focus on transdisciplinary learning and MSIVD is an important example of the university’s commitment to that concept.

Because MSIVD graduates define their own ventures, they tend to work at things they love, and bring additional ability to innovate in those fields, to actually enhance and expand them. MSIVD helps you think about your own potential in a fresh, bigger way, then go out into the world prepared to make big things happen.

Graduates from programs that provide real experience in the innovation process frequently get jobs where the mandate is to lead change. They might launch new products or divisions, lead the ‘Innovation Lab’ or other key roles in organizations that are disrupting the status quo.

There are no hard or soft skills that are necessary for starting the program, except for the decision to step outside of your comfort zone with an open mind. During the program you’ll develop the necessary skills to develop a venture, present that venture to the outside world and lead an organization from inception through growth.

In addition to faculty members, who offer guidance and direction, the program includes Pro-Teaching assistants, proven innovators and industry experts from different fields, who share their knowledge and experience with the cohort in the studios and are always available to offer advice and opinion. As your venture progresses, you also will have the opportunity to join in various ASU entrepreneurship and innovation programs and funding competitions which often include one-on-one mentoring.

Everyone in the MSIVD program is expected to care about, and wants to solve, a specific problem. Therefore, it’s likely that co-founders - who care as deeply as you do - may not be enrolled in the program with you. Since the problem-solving process in the MSIVD program is venture-based, we want it to mirror, as much as possible, what happens in the real working world – where problems get solved by teams at your kitchen table, in your garage, or at the workplace. And if you need to bring in people from outside the MSIVD program or from within the program, we will help guide you as part of the program’s venture development process.

Sync Modality FAQs

Students in this program will be considered “in-person” for tuition and billing purposes, regardless of which modality they plan to participate in. Please refer to the university’s Tuition and Fee Schedule for further information about in-person program tuition rates.

Accepted U.S. citizens and permanent residents must commit to one learning modality, start to finish.

Accepted international students who must obtain an F-1 or J-1 visa to study in the U.S. are expected to reside in the Phoenix area and maintain the minimum credits required in order to maintain their immigration status. Therefore, the ASU Sync modality is not viable for most international students because Sync courses cannot be counted toward a student’s in-person credits each semester.

To successfully participate in the MSIVD program via ASU Sync, you will need access to appropriate technology to access course materials and participate in live discussions with your instructors and peers. You will need access to the following:
• Computer (mobile devices are not recommended)
• Working microphone and webcam
• Speakers or headphones
• High-speed internet connection

Currently, MSIVD is only offered as a full-time program that can be completed in one year (fall, spring, and summer).

During the fall and spring terms, the program’s core courses take place on Tuesdays from approximately 9:30 a.m. to 4:30 p.m. and Thursdays from 1:45 to 4:30 p.m. Mountain Standard Time, USA. Students should also expect to take one 3-credit elective course in the fall and spring semesters; elective course modalities and schedules will vary. During the Summer C term, students will complete their final studio course on Tuesdays and Thursdays from 11:30 a.m. to 4:30 p.m.

The MSIVD program starts every year in the Fall A term. Visit the ASU Academic Calendar for more information about important dates.

Attend the ASU MSIVD program remotely via ASU Sync.

Learn more about your options, based on where you live.

Local / Arizona Students
Out-of-State Students
International Students

Program administration

Program faculty

Industry collaborators

The MSIVD program was designed and launched in collaboration with top executives from a wide range of global brands, including:

list of companies
list of companies
How we innnovate podcast

How We Innovate

Check out our student-produced podcast and affiliated speaker series to learn How We Innovate in MSIVD.

ASU MSIVD – located in the Novus Innovation Corridor

The ASU MSIVD studio is located in the new 777 Tower at Novus in the heart of the growing Novus Innovation Corridor on the Tempe campus – one of six Innovation Zones that are part of the most innovative university in America, as ranked by U.S. News and World Report for the past seven consecutive years.

Best Colleges US News Logo
Novus Innovation Corridor building

ASU resources available to MSIVD students

Entrepreneurship + Innovation

Entrepreneurship + Innovation at Arizona State University connects you to the information, resources and people that can help you turn your ideas into reality.

Learn more

International Students and Scholars Center

ASU’s International Students and Scholars Center welcomes students from more than 130 countries around the world. We are here to support you with immigration and visa information, employment resources, Post-OPT processes, and opportunities to connect with fellow ASU students.

Learn more

ASU SkySong Innovations

Skysong Innovations was established in 2003 as an Arizona Limited Liability company, formerly known as AzTE. To date they have launched 144 startups, created more than 1,100 local jobs and generated over $108 million in state revenue.

Learn more

Have questions?

Schedule a call or Zoom meeting to discuss the program. Our graduate support team is ready to help.

Daniel Salvador
MSIVD Program Coordinator