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Entrepreneurship and Innovation (ENTI)


New Ventures

Cluster Contact

Rick Weyer
Instructor in Entrepreneurship
Smeal College of Business
rmw4@psu.edu

About the New Ventures Cluster

Total number of credits in this cluster: 9 or 10

The New Ventures Cluster is designed to help students develop the skills and ways of thinking required to create, develop, innovate and manage entrepreneurial companies. A successful start-up venture requires a wide range of managerial skills not usually demanded in one person within a larger organization, such as:

  • Acquiring and balancing limited resources
  • Changing direction quickly
  • Building a coherent team
  • Managing intellectual property
  • Creating new markets

The number of credits in this cluster depend on the selection of courses in the area of business law; see list of courses below.

Students who complete this cluster develop skills and knowledge in 14 areas:

  • Opportunity recognition
  • New product development
  • Innovative thinking
  • Tolerance for ambiguity
  • Resource acquisition
  • Effective negotiation
  • Entrepreneurial management
  • Entrepreneurial finance
  • Effective teamwork
  • Entrepreneurial marketing
  • Entrepreneurial and innovation strategy
  • Technology commercialization
  • Intellectual property management
  • Business law

Preferred Sequence of Courses for the New Ventures Cluster

After completing MGMT215 and ENGR310, students taking the New Ventures cluster choose 9 or 10 credits for the list of approved courses.  At least one courses in this cluster must be a 400-level course. To conclude the minor, students take the final core course: MGMT/ENGR/IST425.

To meet the prerequisite requirement for MGMT/IST/ENGR 425, you must take one of the following:

  • ECON 102 Introductory Microeconomic Analysis and Policy
  • ECON 104 Introductory Macroeconomic Analysis and Policy
  • Both ECON 014 Principles of Economics and CAS 100 Effective Speech

New Ventures Course Options

In addition, the BA 241/BA 242 course pairing and three law-related courses are options in the New Ventures cluster. Students may only take one of the following for this cluster: