Stuart School of Business at Illinois Institute of Technology is teaming up with Chicago Innovation Awards for a new Accelerated MBA program aimed at boosting the innovation-capacity of busy mid-career professionals moving into leadership roles.
The 2-year part time MBA program kicks of with a 30 member class in August offering “a rigorous innovation-focused academic curriculum coupled with real-world practical experiences,” plus a $10,000 scholarship for each student who demonstrates a continuing commitment to innovation in the Chicago region, the Institute said in a statement. Tuition for the whole program would be $50,400.
As the program’s experiential partner, the Chicago Innovation Awards will provide students with a direct connection to Chicago’s innovation community through a set of activities and projects. In addition to the scholarship, each student will be a Member of the Chicago Innovation Awards entitled to free admission at all its events.
Krishna Erramilli, associate dean and program director of the new MBA program said, “We are delighted to offer this remarkable opportunity to our students. It ensures that some of the Chicago region’s brightest students will be directly and deeply engaged in Chicago’s vibrant innovation community.”
Luke Tanen, executive director of the Chicago Innovation Awards said, “Our mission is to celebrate, educate, and connect all aspects of the innovation community in the Chicago region. This scholarship program helps strengthen the region’s innovation ecosystem.”
The program is expected to resolve the difficulty in finding top talent for local firms. “Rather than trying to import talent from the coasts, let’s do more to invest in young professionals locally who have a strong desire to work here and see Chicago rise as a top innovation hub,” said Tom Kuczmarski, one of the co-founders of the Awards.
Now it its 15th year, the Chicago Innovation Awards features a year-round series of innovation-focused events and programs, including its annual recognition of the most innovative new products and services brought to market each year in the Chicago region. Over 5,000 people attended Chicago Innovation Awards 2015 events.
Stuart School, on its part, said The Chicago Innovation Awards was selected as the experiential partner for the scholarship program because of its focus on innovation in organizations of all types and all sizes in the public, private, and non-profit sectors.
“Many of our students will have an interest in the large and rapidly growing high tech startup community in the region so this program will be closely connected to that,” said Erramilli. “We also recognize that the spirit of innovation exists in major corporations as well as in the non-profit and government sectors, so students with that interest will be welcome as well,” he added.
ALSO READ: Capstone Projects Help MBAs Connect With Real World
During the program, each student is expected to complete a capstone project in collaboration with a Chicago Innovation Award winning organization. The students will have to attend at least five of the educational events organized each year by the Chicago Innovation Awards.
As part of the application process, each candidate will be asked to submit a 400-word statement describing their particular interest in engaging with the Chicago region’s innovation community. Scholarship recipients will be recognized on stage at the annual Chicago Innovation Awards ceremony at the Harris Theater on October 25, 2016.
