MS Innovation and Venture Development

engineering + business + design

A one year master of science program that prepares leaders with the mindset, skillsets and practice needed to launch successful ventures in any industry or sector, inside existing organizations or as new entities. Graduates will be prepared to lead cross-disciplinary teams in a world of growing uncertainty and ambiguity: identifying needs and evaluating opportunities; generating insights from real world problems, innovating solutions; creating and launching scalable business models that provide value to all stakeholders.

The 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


MSIVD erases traditional academic silos to deliver transdisciplinary problem-solving capabilities and the practical experience the next world-changing founders and leaders need to succeed.

Graduates of MSIVD will:

  • Master the innovation and venture development process, integrating knowledge from business, engineering and design

  • Master the power skills of leadership, cross-disciplinary collaboration, team management, communication, customer engagement

  • Leave with experience founding and scaling their own venture within real marketplaces

  • Be prepared to successfully lead innovation at their own enterprise or an existing one, within the complex social and environmental challenges of our time

  • Have discounted access to ASU Core Research Facilities for one year after graduation
Faculty and students at Innovation and Venture Development

An experience-based curriculum

MSIVD is a studio-based, student-centric program, where each student will be responsible as the entrepreneur working with a small founding team (as in real life startup) to make things happen. The studio approach places a high premium on preparation, critical thinking, ‘knowing and applying the referenced course concepts’, collaboration and communication. Students will be in a failure-friendly space with the goal of learning faster. Instructors will mentor students and help them find the resources needed to achieve their goals.

Studio courses support the innovation and venture development process


discovery & insight

The tools and experience to explore and immerse in industry or sector customer needs, competitive landscape and cultural context; where to begin, evaluate information, develop insights.


problem reframing

Problem reframing, diagnosing problems, pushing past conventional assumptions to see problems as opportunities for breakthrough solutions.

Support course for studios 1-2

fundamentals of entrepreneurial leadership

Practice “being” a leader, at the personal, interpersonal, and team levels.


explore, fail, solve

Develop prototypes of a product, service or system using the scrum method in 3 two-week sprints, including ideation, success indicators, making, testing, evaluation and revision.


business model

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

Support course for studios 3-4

scaling entrepreneurial leadership

Learn to lead by summoning resources, socially engaging surrounding communities, and navigating through organizational leadership challenges associated with growth.



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

Take on the most important challenges in the world

We asked the most exciting leaders and thinkers we know to share the challenges they’d like MSIVD teams to address — a pain point, a need, what they hope someone will invent something to solve. Scroll through what your future mentors think, or come up with challenges of your own.

Tomorrow's innovators and founders

Tomorrow’s entrepreneurial leaders need to be facile, creative thinkers, cross-disciplinary problem solvers and inspirational leaders who develop these same skills in others. They need not only to master their own field of expertise, but also to be conversant with the other disciplines required to scale a successful enterprise. This program is unique in concept, because three schools have worked together to develop it. Every class and studio is taught jointly by all three schools, erasing traditional academic silos to provide the next generation of founders and leaders with the experience, skills and values they need to succeed.

Tomorrow's innovators - student from ASU

Are you a future entrepreneur?

Do you have an entrepreneurial mindset, broad interests and curiosity? Do you want to create the next world-changing product, system or social solution? Are you collaborative, team-oriented, proactive and purpose-driven? Then we want you for the inaugural cohort of the new MSIVD program, at the number one school for Innovation in the United States. Work experience is a plus, but demonstrated “real world” experience in entrepreneurship or venture development in an academic environment is good too. Students with undergraduate degrees in engineering, social science, design, business, technology, sustainability or related fields should apply.

Request information