From Business Idea to Launch: Inside Babson’s New Online MSBC Degree
For many aspiring entrepreneurs, the hardest part of starting a business isn’t coming up with the idea, it’s finding the time, guidance, and support to turn that idea into a viable company.
Babson College’s new online Master of Science in Management in Business Creation (MSBC), was designed to bridge that gap. The fully online degree helps founders develop launch-ready ventures while earning a graduate degree, combining business fundamentals, mentorship, and AI-powered support.
Rich Hanna, professor of practice in Babson’s Marketing Division and director of the new program, helped develop the degree. He discusses what makes the MSBC different, why now is the right time for it, and how Babson prepares entrepreneurs to turn ideas into businesses.
What problem is the Master of Science in Business Creation designed to solve?
“Most people start a business with no knowledge or experience. Failure rates are high and dreams get crushed. Even serial entrepreneurs can struggle. And people who try to start a business while being a student in standard business programs will find it difficult to try to launch their business while managing courses and assignments that aren’t specific to their needs.
“The best thing about this program is that it’s all about starting your business. You come in with a business idea, we help you nurture it, and by the end, you have a launch-ready plan and are prepared to pitch investors and be ready to launch. If your goal is to start a business, this is the program for you.”
What makes this program different from a traditional graduate degree?
“The Master of Science in Business Creation is designed specifically to help students start and run a business. The goal is to have them, by the very end, have a launch-ready plan they can take to investors and get support to get started. From day one, it’s about learning what you need to do to run your business.”
What were the key pillars you wanted to build into the program?
“There were three things we really wanted. The first is strong business fundamentals. It’s not enough to know marketing or finance independently—you have to understand how they all work together because, as an entrepreneur, you wear multiple hats. Second, nothing in business ever works perfectly. We wanted students to learn how to test ideas, adapt, and keep moving forward when things don’t go as planned.”
“And finally, starting a business can be lonely. That’s when you need support the most. Working with mentors is critical to making sure no one is alone and students get help at exactly the right time. Those three ideas are the foundation of the program.”
Why was it important to make the degree fully online?
“Everybody is busy. The goal is not to add another burden. Otherwise, you’ll never live that dream of starting your own business. By teaching online, you don’t have to drive anywhere. You can do the program from home or wherever you have a computer and an internet connection. Students have flexibility, but they’ll also have live sessions with faculty and classmates. We know people can get lonely in programs like this, so we’ve built opportunities for students to network and collaborate. They can work together when they want to or independently when they need to. Ultimately, the goal is flexibility.”
How does artificial intelligence fit into the student experience?
“We’re living in the age of AI, and this program is going to leverage it to the best of our ability. A lot of times, students are working on their own, and there isn’t an opportunity for immediate feedback. We’ve built tools into the program that provide that support. Rather than waiting for class or an interaction with someone, students can receive guidance 24/7.
But AI isn’t the differentiator. The differentiator is how we’re using it—to support the student experience and allow people to learn at their own pace and test ideas in a low-stakes environment.”
What makes Babson uniquely suited to offer a program like this?
“Babson’s true advantage is Babson. It’s the faculty. I’ve worked at other schools before Babson, and what makes this place special is that many faculty members have worked in business or started companies themselves. They have direct experience doing exactly what we’re teaching. Everyone here is unified in one thought, which is the student experience and how can we raise that student experience. We get as much joy seeing students succeed and launch their businesses as they do in the success of those businesses. There’s a reason why we’re No. 1 in entrepreneurship.”
How does the program prepare students to pitch investors?
“The final module is all about building a launch plan, and students will work with mentors—many of them Babson alumni who have been through the process themselves. At the end, students will have an opportunity to compete in a special pitch competition. Even if they don’t win, the preparation is exactly what they need to approach angel investors or venture capitalists. It’s really practice for the real world.”
“If your dream is to start your own business, we’re here to support you.”
Rich Hanna, director of Babson’s new Master of Science in Management in Business Creation program
Why launch this program now?
“Since 2019, there’s been more than a 57 percent increase in small business applications in the United States. We know more businesses are being started, but we also know the failure rate is extremely high. Babson is ideally positioned to make a difference in that space. Our goal is to help reduce that risk and give entrepreneurs the knowledge, support, and confidence they need to succeed.”
What kind of person do you hope enrolls?
“We’re looking for someone who wants to realize their dream. Starting a business isn’t easy, and it’s not always a smooth road. We’re here to help smooth that road as much as possible. By the time students finish, they should walk away with a launch plan that’s ready to go, one they can take to investors and use to start their business shortly after graduation. And they’ll know they didn’t do it alone. If your dream is to start your own business, we’re here to support you.”
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