Study Innovation Management: All you need to know

Author: Megan Thudium — Last update: 27 August 2020

Innovation Management is a versatile and exciting degree to study at university. It’s the perfect subject if you are forward-thinking and creative and enjoy combining high-level strategy with hands-on work on new business ideas. Students that pursue this field are well-equipped to become the innovators, the thinkers, the creatives, and the leaders of tomorrow. Read on to learn more:

What is Innovation Management?

Innovation Management is a field promoting organizational innovation and includes processes that encourage an organization to strategically innovate. Studying Innovation Management at university will equip you to solve the common challenges organizations face to successfully innovate, whether that company is a corporation, enterprise, start-up, or small business.

A university degree in Innovation Management will provide you with insight into the role that innovation plays in organizations, how it ties into corporate strategy, product development, market positioning, and new business creation.

Innovation Managers perform tasks like

Promote innovation and innovative processes throughout an organization,
Develop and collect ideas for innovation,
Work directly with leadership to make strategic long-term plans.

As a graduate of Innovation Management, you can fundamentally transform organization structures, processes, and company cultures. Ready to make an impact? If yes, then a university degree in Innovation Management is for you!

Use our search to find Innovation Management degrees in Europe

Where can you study Innovation Management?

Innovation Management is not a common subject for a Bachelor’s degree program — instead, many students opt for a general Business degree. But at the Masters level, you can find many universities across Europe offering suitable programs.

Universities that offer Innovation Management Bachelors in English:

EU Business School (Germany, Spain, Switzerland)

Find Bachelors in Innovation Management

Universities that offer Innovation Management Masters in English:

Find Masters in Innovation Management

What do you learn in a Bachelor’s degree in Innovation Management?

Some universities offer Bachelor’s degrees focusing on Innovation Management, or Entrepreneurship & Innovation, but these are rare: Innovation Management is not a common undergraduate degree program. Instead, universities will offer a general program in Business, and then you can choose your focus in elective modules.

If you want to make sure that your Business degree properly prepares you for a career or further studies in Innovation Management, search the Bachelor course curriculum for modules like

Research & Development,
Product Design & Development and Creativity,
Quality and Process Management,
Entrepreneurship & Business Development,

or any module with “innovation” or “innovative” in the name.

Find & compare the best Bachelors in Innovation Management in Europe

What do you learn in a Master’s degree in Innovation Management?

A Master’s in Innovation Management will prepare you to enter a variety of different industries, company sizes, and industry sectors. You will go deeper into core topics and develop the right skill set, adaptability, and the creative thinking necessary to become a business innovator of tomorrow.

Common courses in a Master’s in Innovation Management include:

Creativity Skills Development & Boosting Creativity,
Strategic Marketing,
Creative and Design Thinking,
Digital Innovation,
Entrepreneurship,
Startup Management,
Organizational Design,
Strategic Management of Innovation.

Find & compare the best Masters in Innovation Management in Europe

How is an MBA in Innovation Management different from an MSc or MA?

At the (post)graduate level, you can choose to study Innovation Management as either an MBA (Master of Business Administration) program, or as an MSc (Master of Science) or MA (Master of Arts). MBA degrees are usually tailored to prepare for general management roles, whereas MSc/MA degrees educate graduates for more specialist roles.

An MBA is a common degree program for students with prior work experience, and that is a common requirement in the application process. An MBA generally covers a broad range of business subjects like leadership, finance, marketing, and others. A focus on Innovation Management means it will get additional attention in the curriculum, but by no means will you become a specialist in the field.

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In contrast, an MSc or MA will allow you to specialize in Innovation Management and the majority of your studies will focus on it. You will deep-dive into topics like product innovation, research & development, entrepreneurship and digital innovation. In contrast to an MBA, an MSc or MA in Innovation Management won’t provide you with a well-rounded education in a variety of subjects. But if your passion lies in innovation, and you already have a Bachelor’s degree in Business, then an MSc or MA might be the right choice for you.

Can I get an Innovation Management degree online?

It’s possible to get a degree in Innovation Management through online or blended programs. And distance learning options are popular for Innovation Management: Like similar Business subjects, the course contents easily lend themselves for remote study. Typical methods include digital lectures (live or recorded) and text or video conferences with fellow students.

There are a number of advantages: an online program is usually less expensive; you can study from the comfort of your home (or wherever you want to study); and you don’t need to get a student visa and travel abroad.

But remember, it can be difficult to study a degree program online; whether full-time or part-time. Studying remotely can be challenging, and limited personal connections with other students and professors cannot compare to a typical campus setting. When studying part-time while working, you might find it hard to balance the demands of both a career and university studies. Keep this in mind as you consider a degree online. It’s not for everyone.

How is Innovation Management different from Entrepreneurship?

In many ways, Innovation Management and Entrepreneurship overlap. When you review the course curricula, you will see the similarities between the disciplines. In fact, many universities will combine these subjects into one study program. Entrepreneurship is slightly different in that it specifically focuses on startups, and the proven methods of founding and growing businesses.

Career perspectives: What does an “Innovation Manager” do?

An Innovation Manager helps promote organizational innovation and creates strategic processes that enable an organization to innovate on various levels.

As a graduate of an Innovation Management program, you will have a range of opportunities in different industries and tech-driven sectors. Industries that look for Innovation Management graduates are, among others, information technology, finance, automotive, aviation, pharmaceuticals, biotechnology, and management consulting industries.

Typical job titles are as diverse as the roles you may fill:

Innovation Manager,
Head of Innovation,
Product Designer,
Project Manager,
Business Development Manager,
Research Analyst

…just to name a few. Many graduates also follow an entrepreneurial path and go on to found their own companies.

The best countries to study Innovation Management

There are many factors that are relevant to choose the right university. With a subject like Innovation Management, it pays off to specifically look at countries that are known to be innovative, especially if you want to consider staying and working there after graduation.

Helpful inspiration is provided by WIPO, the World Intellectual Property Organization. They rank countries in their “Global Innovation Index” (GII) on factors such as patents per capita, expenditure on education and research, trade, and other important criteria. This makes sense for you as a student because if you study in a highly innovative economy, there will be more options for you later on! Listed below are Europe’s most innovative countries according to the GII 2019:

Rank in Europe	Country
1	Switzerland
2	Sweden
3	Netherlands
4	United Kingdom
5	Finland
6	Denmark
7	Germany
8	Ireland
9	France
10	Luxemburg

Top reasons to study Innovation Management

These are the top reasons to get a degree in Innovation Management:

You can work in a variety of companies. Many graduates will begin at a startup, but large corporations also offer promising career opportunities. When looking at corporations, consider those that have large research and development departments (“R&D”), or those that are known for cutting-edge innovations.
You have good job prospects. The skills you learn in Innovation Management can be applied to many types of jobs. Innovation Management is a growing field and quickly evolving into a separate business function entirely, meaning demand for specialists will grow. Because of this, you will find more career opportunities in startups, small businesses, and corporations. Companies will always need to innovate – so it’s a career field that will never go out of fashion!
You can make an impact on the future of business. Passion plays a key role in developing your career. Choose a line of work that you can passionately stand behind. Innovative companies around the world are using their creative insight to solve some of the world’s largest challenges. You can be a part of that!

What are similar subjects I can study?

If Innovation Management isn’t the right fit for you, there are similar subjects possible to study.

Entrepreneurship: While sharing many aspects of an Innovation Management degree, Entrepreneurship puts more emphasis on founding and building startups.
Product Design: Ready for a hands-on approach? Product design is often part of Innovation Management, but at a product design level. You will have the opportunity to focus on designing and developing new products in detail.
Business Administration: If Innovation Management is only one of many aspects of Business that excites you, you can also pursue a more general path. A degree in Business Administration will allow you to also explore other subject areas like marketing, human resources management, finance, and accounting.

Still interested? Then find Innovation Management degrees now!

52 Innovation Management Programmes in Europe

Megan has first-hand experience studying and working abroad. She has a B.S. in Business Administration from the University of Redlands (USA) and an M.A. in Leadership & Management from IUBH University of Applied Sciences (Germany). She is also an entrepreneur and heads a successful marketing agency in Berlin.