OVERVIEW: For 18 years, the award-winning Science and Technology Entrepreneurship Programs (STEP) has empowered individuals who have degrees in science and engineering to be innovators and entrepreneurs. The curriculum is flexible and can be tailored to your needs. Core courses include graduate-level science, technology innovation, intellectual property commercialization, and finance. Nearly one-third of the program is experiential learning where you will work as a paid intern or employee with an existing company or entrepreneur with your own venture. This experience will typically serve as the basis for your master’s thesis. Each year’s cohort is small (typically 8-12 new students), which enables significant personal attention from faculty and mentors in crafting and realizing your goals. The total duration of the program is 1.5 to 3 years.
JOB OPTIONS: STEP graduates work in diverse industries such as energy, healthcare, manufacturing, IT, entertainment, and aerospace. Job titles include CEO, Program Manager, Project Manager, Technology Management Specialist, Head of Sales, Director of Product Development, Engineer, and translational Research Associate. Initial salary offers for graduating STEP students range from $40,000 to $80,000, depending on the goals of the student (some of our students opt for a lower paying position in a new venture in order to immerse themselves in the start up culture while other students feel more comfortable with a higher paying job in a more established firm). Several STEP alumni have successfully started their own company, or were part of a startup team that created a profitable company from a technological discovery. STEP can also serve as a gateway to other CWRU programs such as business, law, medicine, and PhD in science or engineering.
HOW TO GET ACCEPTED: You must have the equivalent of a four-year bachelor’s degree in a field related to the program to which you are applying (e.g., for EB: most life sciences; for PEP: physics, engineering physics, and most engineering fields). The admissions committee strongly considers quality of previous education, grades, recommendation letters, personal statement, GRE scores, and passion for innovation/entrepreneurship. For domestic applicants, GRE is NOT required but is recommended for scholarship consideration. International applicants must have a TOEFL above 100 and GRE above 152(V), 152(Q), and 3.5(W). For international applicants who have a TOEFL between 90 and 100, please ask about our option to enroll as a “Plan B” MS candidate. Applications must be submitted by March 26 in order to be considered for scholarships. Classes begin in late August.
PROGRAM COST: A majority of our applicants qualify for a scholarship that ranges from 33% to 50% tuition. When considering tuition, living expenses, and salaries from internship and job, a typical STEP student with a 33% scholarship will nearly break even financially over a 3-year period, while students with a 50% scholarship will have a net gain. Please contact the program director for more details on these calculations.
RESOURCES: CWRU is a billion-dollar research institution that ranks consistently among the top 40 colleges and universities in the United States and #1 in Ohio. CWRU is home to world-renowned people, teaching, and research in the sciences, engineering, medicine, law, business, design, social sciences, arts, and humanities. CWRU is also home to a myriad of world-class resources that support entrepreneurship and innovation ON CAMPUS, such as CWRU’s prototyping and design facility think[box], CWRU’s IP Venture Clinic (“IPVC”), CWRU’s LaunchNet, and CWRU’s Innovation Design and Entrepreneurship Association (IDEA).