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Entrepreneurship gains ground at business schools

Entrepreneurship has been gaining ground at business schools, which are keen to trumpet an emerging trend of upstart hopefuls and fledgling founders breaking ranks with traditional career paths.

Before the financial crisis, it was a rarity for many MBA graduates to diverse from the corporate track. Today, however, students are flocking to entrepreneurship electives and incubators in droves. The elite schools, once known for their links to the financial world and consulting firms, are seeing massive increases in MBA students pursuing entrepreneurial ventures.

According to a QS survey of nearly 6,000 business school applicants, there is a drop in MBA applicants aiming at general management positions, and a rise in those with entrepreneurial ambitions. More than 32% of them are pursuing business education to start their own business, the second consecutive yearly increase. A further 33% of the applicants intend to specialise in entrepreneurship, say QS, ahead of marketing.

Ammar Halabi found a great deal of support when he launched his start-up venture out of London Business School. The MBA, and CEO of Funryde, a ride-sharing mobile application founded 12 months ago, made it onto the School’s Incubator shortly after launch.

It is this support that is encouraging students to turn to entrepreneurship. “We got financial support from Deloitte, but the main thing we got from LBS was the office space – we got the network and the mentors that were around to help us,” said Bassem Barake, Funryde's other co-founder.

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