Key Takeaways:
- Among the schools in our roundup are Stanford University and Harvard University, known for their strong entrepreneurship programs.
- Colleges across America support student entrepreneurs with undergraduate and graduate programs, providing diverse business empowerment solutions.
- Adapting to challenges like COVID-19, these colleges produce startups that address urgent needs and demonstrate agile responses to business challenges.
Many people want to start their own businesses. But founding and successfully running a business is challenging. This is often the case for even the most talented entrepreneurs. Luckily, colleges across America have realized that they can help their students found and grow businesses. And they can do so in ways that boost their chances of success. The colleges in this article all excel in giving students business support through undergraduate entrepreneurship programs, graduate programs, or both.
There is no one-size-fits-all approach when it comes to colleges supporting student entrepreneurs. Instead, colleges that really want to ensure that their students’ companies thrive need to offer a range of business empowerment solutions. The colleges in this article have many avenues of entrepreneurship aid. And they cater to a diverse range of students and business ideas.
Featured Programs
In 2020 and 2021, businesses all over the world have had to adapt to coronavirus. Colleges and student startups are no different. Some colleges have produced startups that are fighting coronavirus. Others are assisting businesses in coping with coronavirus. These efforts also contribute to this ranking. They provide evidence that these colleges (and the startups that they produce) are quick to adapt to new business challenges. This is a vital skill for any business to have.
This is a ranking of the best undergraduate entrepreneurship programs as well as best graduate programs for entrepreneurship Any one of the colleges in this article is a strong choice for a prospective student who wants to start a business. But it’s also possible that none of the colleges below are right for you. If that’s the case, then this article can still be a great resource. Each entry contains a detailed summary of what the college is doing to support its student-founded businesses. These have been included so you can contrast and compare with your own college options. If a college you’re considering is supporting student businesses, then that’s a strong sign that it’s worth attending!
Methodology
The basis of this article comes from sources that highlight colleges that support entrepreneurs. These sources are as follows:
CollegeChoice, 50 Best U.S. Colleges for Aspiring Entrepreneurs
Entrepreneur, 5 Schools That Offer Undergrad Entrepreneurs Hands-On Experience
QS, 7 Of The Most Successful Student Businesses Started At University
Forbes, 5 Amazing College Incubators
The Yale Tribune, https://campuspress.yale.edu/tribune/15-best-student-startups-from-2000-to-2020/
Forbes, Which Colleges Produce The Most Startups?
Our editors sourced the colleges from these articles. We then conducted further research into their student business support. This research formed the final ranking.
The ranking criteria for this article are as follows:
- Evidence of a college providing varied business support to students
- Evidence of a college/college startup supporting businesses through coronavirus or fighting coronavirus
- Evidence of innovation in a college’s business support
- Combined number of mentions from sources
Our ranking, from 30 to one, is as follows:
30. New Mexico State University
Las Cruces, New Mexico
In early 2020, before the coronavirus came to America, New Mexico State University gained over $300,000 to help even more students with their businesses. The college’s center for innovation is called the Arrowhead Center. It has also supported businesses as they developed solutions to coronavirus. For instance, it has supported Wildlife Protection Management, Inc. This existing business is developing solutions for delivering humane vaccines to wild horses. This will prevent the spread of a range of zoological diseases that can develop into pandemics. Forbes notes that New Mexico State University has an incredible business incubator. This incubator supports both undergraduate and graduate student within its business school. It has one of the best undergraduate entrepreneurship programs.
Tuition: $2,160 (in-state) $5,664
29. Texas A&M University
College Station, Texas
Since 1999, Texas A&M University has supported business-minded students in their entrepreneurial studies. Much of this support has come from the McFerrin Center for Entrepreneurship. This center runs dozens of programs that allow student businesses to succeed in the business world. For example, Start-Up 101 helps undergraduate and grad students start their own businesses. It does so through a series of business education workshops with successful entrepreneurs. The college has also strengthened its business connections throughout the coronavirus. For example, in late 2020, the college collaborated with Worlds Inc to develop a coronavirus breathalyzer. Forbes states Texas A&M University’s business school has one of America’s top startup business incubators. We agree it’s one of the best colleges for prospective business leaders.
Tuition: $12,783 (in-state) $40,134 (out-of-state)
28. University of Washington
Seattle, Washington
Since 1991, the University of Washington has been home to the Arthur W. Buerk Center for Entrepreneurship. The center is housed within the university’s business school. It offers entrepreneurship students “an exceptional business administration curriculum, real-world experiences, and connections to the Seattle entrepreneurial community.” The center offers opportunities for both undergraduate and grad students interested in entrepreneurial studies. Examples include startup competitions, innovation challenges, business accelerators, graduate programs, and other business programs. And the college’s entrepreneurial efforts have focused upon coronavirus. For instance, one of the colleges’ startups has helped the fishing industry. Specifically. it has formed solutions for testing and managing coronavirus in their workplaces.
Tuition: $12,076 (in-state) $39,906 (out-of-state)
27. Boston University
Boston, Massachusetts
The Boston University Center for Career Development has many resources for business administration students. It specifically caters to those interested in business degrees, startups, and entrepreneurship. These include the BUild Lab coworking space, 39 on-campus business clubs/organizations, and more. And the college’s student and alumni business leaders have been supporting the fight against coronavirus. For instance, grad students have launched a free marketplace to list and share emergency medical supplies. Others have built apps that check coronavirus symptoms.
Tuition: $59,816
26. University of Miami
Coral Gables, Florida
The LaunchPad at the University of Miami is a community of over 5,000 entrepreneurs. Its mission is to help people succeed in the business world with business ideas large and small. And since its foundation in 2008, it has expanded its community to colleges and graduate programs nationwide. It has also formed cross-campus mentoring programs and much more. Like many schools across the nation, the college is helping businesses that are fighting the coronavirus. For example, in 2020, it became the first college testing site for a coronavirus breath analyzer product. When reviewing entrepreneurial studies, the Yale Tribune mentions the University of Miami student-founded company EarTop Technologies. It calls it the sixth-best student startup of the 21st century.
Tuition: $57,760
25. New York University
New York City, New York
As one of the best colleges in our ranking, the New York University startup ecosystem is college-wide. It encourages students at both the undergraduate and graduate levels in their entrepreneurial studies. The college fosters this ecosystem by encouraging multi-disciplinary collaboration. It is also known for accelerating innovation and cultivating leaders in the business world. Student entrepreneurs have access to a range of resources. These include:
- $300,000 business plan competition
- future labs
- an innovation fund
- business accelerators
This startup ecosystem has adapted well to the coronavirus. For instance, the college’s business school has hosted events related to the pandemic. One title included “Challenges Building an Ed-tech Company in the Midst of COVID with The Thinkers.”
Tuition: $56,500
24. University of Dayton
Dayton, Ohio
The number of student and alumni business successes at the University of Dayton speaks for themselves. For instance, in the last decade, 131 new ventures and startup companies have been launched by the college’s alumni. This is thanks to $21.6 million in funding for entrepreneurial studies and initiatives. The college is also home to the 4th largest student-run business in America. Despite the coronavirus, the University of Dayton has been able to grow its business support activities. For example, in late 2020, the college launched a new program within its business school for entrepreneurs. The goal was to move start-ups forward. Entrepreneur considers the University of Dayton the fourth-best college for providing undergraduate and grad students with hands-on entrepreneurship experience. The honor can be attributed to its entrepreneurship program and business administration curriculum.
Tuition: $44,890
23. California Polytechnic State University
San Luis Obispo, California
California Polytechnic State University’s Cal Poly Center for Innovation and Entrepreneurship opened its doors to students in 2010. Since then, it has launched over 120 companies and created over 1,000 jobs through its undergraduate and graduate programs in entrepreneurial studies. It has raised over $250 million in capital and provided over 10,000 alumni mentor hours. Shortly after the coronavirus came to America, this center announced that it would help small businesses to prepare. The Yale Tribune has honored the California Polytechnic State University student-founded company iCracked. It calls it the eighth-best student-founded startup of the 21st century.
Tuition: $10,195 (in-state) $28,105
22. Lehigh University
Bethlehem, Pennsylvania
The student business accelerators at Lehigh University are impressive, making this one of our best colleges. In fact, they contributed to Entrepreneur naming the college the second-best for a hands-on entrepreneurial experience. This business accelerator is just scratching the surface of Lehigh University’s student and alumni business support. For example, the college also runs the Baker Institute for Entrepreneurship, Creativity, and Innovation. It is also home to a Silicon Valley immersion event; a series of business plan competitions; a collaboration with the Nasdaq Entrepreneurial Center; a small business development center, and a general focus on business studies. In 2020, the CARES Act awarded $515,000 to the college’s Small Business Development Center. This supported the center’s initiatives and allowed it to expand its services to hundreds of new clients. Lehigh University is clearly one of the top entrepreneurship colleges for undergraduate and grad students looking for support with future ventures.
Tuition: $57,470
21. Columbia University
New York City, New York
The Columbia University database for commercialization and entrepreneurial resources lists dozens of opportunities. These are ideal for student entrepreneurs and those with an entrepreneurial mindset. This includes typical resources like startup accelerators and entrepreneurship degrees and programs in entrepreneurial studies. But it also encompasses more unique resources with an entrepreneurship focus. These include a chemical probe synthesis facility and a digital storytelling lab. And the college’s startup businesses have thrived during the coronavirus. For instance, from March 2020 to March 2021, the college’s startups raised $7.2 billion in funding.
Tuition: $63,530
20. University of Houston
Houston, Texas
When reviewing entrepreneurial studies, both The Yale Tribune and QS note that a University of Houston student founded the website WordPress. The home of student business support at the college has been The Wolff Center for Entrepreneurship since 1991. This center has many entrepreneurship programs to help undergrad and grad students become successful entrepreneurs. This includes hosting outside speakers every week and mentoring to support the entrepreneurial process. It also includes holding competitions, organizing retreats, and much more. Even with the constraints of the pandemic, the University of Houston is still increasing the global business reach of its education. For example, in October 2020, the college’s School of Business announced the opening of an office for global initiatives. All this makes the school one of the best entrepreneurship colleges in the nation for business knowledge.
Tuition: $9,699 (in-state) $21,891 (out-of-state)
19. The George Washington University
Washington, DC
Since 2010, George Washington University has housed the Office of Innovation & Entrepreneurship. To date, it has helped thousands of college community members and aspiring entrepreneurs with their business endeavors. Possibly the most impressive aspect of this office is that it runs the GW Innovation+Entrepreneurship Lab with MakeOffices. This entrepreneurial institute and lab organize events, workshops, and advising sessions. It also provides an open co-working space, collaboration spaces, a resource center, and an innovator access program for entrepreneurial studies. The lab is open to all the college’s students, even those not enrolled in graduate programs. This includes undergrads and grad students pursuing a business degree. The college’s entrepreneurial ecosystem is now helping businesses overcome the coronavirus. In 2021, the college announced that Wells Fargo Bank had given the college $75,000. This was to help fund activities that help startup businesses adapt to coronavirus-related risks. The Yale Tribune has lauded the student-founded business AthleteTrax. They’ve called it the fourth-best student startup of the 21st century.
18. Northeastern University
Boston, Massachusetts
In 1958, Northeastern University became one of the first colleges to create an entrepreneurship program. Thanks to this head start, the college now has a wide range of business support activities for entrepreneurial studies. These are for business degree students and alumni who are also aspiring entrepreneurs. These activities are headed by the D’Amore-McKim Entrepreneurship & Innovation Group. This group’s activities include a venture accelerator and a guild of expertise-based service providers. As one of our best colleges for business ventures, it is also home to a mentoring network and an entrepreneurship club. In the wake of the coronavirus, Northeastern University has helped both international businesses and local businesses. For example, it has published papers that offer solutions for international corporations. In 2020, the college won an award from the Greater New England Minority Supplier Development Council. This was for continuing to support minority-owned businesses through the pandemic. Entrepreneur has honored Northeastern University. The magazine has called it the third-best school for offering undergraduate and grad students hands-on entrepreneurial experience through its entrepreneurship program.
Tuition: $57,592
17. Johns Hopkins University
Baltimore, Maryland
Perhaps the most exciting center for student entrepreneurship on the Johns Hopkins University campus is Fast Forward U. Fast Forward U is a 10,000-foot creative space for entrepreneurial studies. It serves as a “hub for student entrepreneurship and innovation.” Within the span of one year, this space managed to work with over 1,300 aspiring entrepreneurs from various disciplines to support their successful businesses. And the college’s support has led to entrepreneurial students assisting in the fight against coronavirus. For example, in early 2021, the student-formed Polair. This start-up creates technologically advanced surgical masks. It was awarded $250,000. Forbes notes that Johns Hopkins University has one of America’s best colleges with top business incubators.
Tuition: $58,720
16. University of Illinois, Urbana-Champaign
Champaign, Illinois
A student who wants to start a business while studying at the University of Illinois, Urbana Champaign will find a solid entrepreneurship education. They will also discover a broad ecosystem of support beyond the walls of its business school. The college’s system currently offers a wide range of services for entrepreneurial studies. These are for undergraduate students and grad students alike. This includes seven innovation spaces, five funds, and a range of unique opportunities. Examples span Silicon Valley workshops, a living-learning community, a proof-of-concept program, and more. In 2020, one of the college’s startups, Serionix, started developing face masks that used air filtration technology. This offered people a new way to protect themselves from coronavirus. Forbes notes that the college’s system has produced the 10th most venture capital-backed startups of any college to date.
Tuition: $15,442 (in-state) $32,892 (out-of-state)
15. Carnegie Mellon University
Pittsburgh, Pennsylvania
In 2015, Carnegie Mellon University alumnus James R. Swartz, a founder of the global venture capital firm Accel, donated $31 million to Carnegie Mellon University. This donation was earmarked to create the Swartz Center for Entrepreneurship. This center currently runs 16 programs that help student entrepreneurs succeed. This includes:
- various funds
- competitions
- labs for entrepreneurial studies
Companies that the college has supported have gone on to fight the pandemic. For example, Airviz Inc began and is currently based in the college’s Create Lab. It provides clean air filtration solutions for indoor environments. The Yale Tribune has praised the Carnegie Mellon University student-founded company Modcloth. It has called it the 11th best student startup of the 21st century.
14. The University of Texas at Austin
Austin, Texas
The student business support at The University of Texas at Austin’s McCombs School of Business is second to none. It has led the college to establish itself “as an essential engine of the booming innovation and knowledge economy.” Some of the resources entrepreneurial students can access through the college program includes an interdisciplinary enterprise program called Longhorn Startup. Other resources for entrepreneurial studies are the Austin Technology Incubator, the IC2 Institute, the Herb Kelleher Center for Entrepreneurship, and more. In 2020, the college’s business work focused on coronavirus. For example, three graduate school student entrepreneurs created a platform called Big & Mini. The platform connected older and younger adults through virtual communication. Forbes notes that the entire University of Texas system is one of the best colleges for students interested in venture capital-backed startups.
Tuition: $11,752 (in-state) $40,996 (out-of-state)
13. University of California, Los Angeles
Los Angeles, California
One of the best colleges in our ranking for entrepreneurial studies, the University of California, Los Angeles campus has had a center for entrepreneurship since 1987. Today, the Harold and Pauline Price Center for Entrepreneurship & Innovation oversees a wide range of business growth activities. These include an accelerator program called Startup UCLA. The program connects undergraduate and grad students with entrepreneurial networks of alumni. These people have successfully created startups and other startup founders in Southern California. During the coronavirus pandemic, business-minded students have focused on aiding nonprofits. This has been handled through the college’s Crisis Response Corps, which connected 71 undergraduate students with 27 organizations. Forbes notes that the University of California, Los Angeles is affiliated with one of the best business incubators, Los Angeles Cleantech Incubator.
Tuition: $13,258 (in-state) $43,012 (out-of-state)
12. Duke University
Durham, North Carolina
In 2020, Duke University’s entrepreneurship efforts were able “to respond swiftly and creatively to the virus.” For example, the college launched the Student Founder Program for aspiring entrepreneurs. The entrepreneurial studies program, despite the coronavirus, held 538 coaching sessions. And the 2020 summer accelerator for student businesses ran for nine weeks. It provided $50,000 in summer stipends for students in graduate programs. The college’s Melissa & Doug Entrepreneurs program has raised over $21 million for undergraduate students since 2014. The Yale Tribune mentions the Duke University student-founded company A Small Orange. Specifically, it has been called the second-best student startup of the 21st century.
Tuition: $60,244
11. Babson College
Babson Park, Massachusetts
According to Entrepreneur, Babson College is number one in giving undergraduate students and grad students alike hands-on experience in entrepreneurial studies. Its alumni startup resources teach students and “empower entrepreneurs to build and grow ventures of all kinds.” This includes pitching competitions and accelerator programs. There are also workshops, mentorships, and more for students who desire to start their own business ventures. During the coronavirus, Babson College has been using its Goldman Sachs 10,000 Small Businesses program to highlight the issues that small businesses face. For instance, in September 2020, this program reported that 88% of small businesses had exhausted their government Paycheck Protection Program loans.
TTuition: $54,944
10. Cornell University
Ithaca, New York
The entrepreneurship programs at Cornell University are governed by the deans of 12 different schools within the college. They are also supported by over 100 advisory council members. Thanks to this ample support for entrepreneurial studies, the college offers business-minded students and aspiring entrepreneurs eight business incubators. It also provides nine startup funds, mentoring, agencies, legal clinics, and more to start their own business ventures. That’s not to mention students involved in the renowned Entrepreneurship and Innovation Institute. This entrepreneurial leadership has helped graduate students provide solutions to coronavirus as well. For example, in May, a student team designed a smart mask that monitors the wearer’s vital signs. Forbes notes that Cornell University has the sixth-highest venture capital-backed business creation of any college. We agree it’s one of the best colleges on our list.
9. University of Southern California
Los Angeles, California
As one of our featured online programs for entrepreneurial initiative, USC gives $340,000 to student-founded startups each year. The college’s student organizations also offer entrepreneurial students a wide range of unique opportunities. This includes the chance to speak to successful entrepreneur and Tesla and SpaceX founder Elon Musk. In the pandemic, the college’s Jimmy Iovine and Andre Young Academy is helping businesses. For example, one of the academy’s faculty members, Matthew Manos, is developing Los Angeles’s LA Optimized program with the city’s mayor’s office. The Yale Tribune has lauded the USC student-founded company EnjoyNow. In reviewing entrepreneurial studies, the publication called it the third best student-founded successful business startup of the 21st century.
8. Yale University
New Haven, Connecticut
In 2021, Yale University’s student body increased its support for student entrepreneurs. This was despite the coronavirus pandemic. The Yale College Council decided to spearhead a program that would help undergraduate entrepreneurs succeed. Yet, there were already many practical programs and opportunities for student business support within the college’s business community. For example, students in undergraduate business programs could enter the Yale Innovators’ Prize. They could also access a startup consulting clinic, apply for the Tsai CITY Student Catalyst Fund, enroll in mentorship for entrepreneurial management, and much more. QS notes that Yale University was the birthplace of Time Magazine and FedEx. The Yale Tribune considers the college’s graduate school students responsible for the 15th best startup of the 21st century, Verb Energy.
7. University of Virginia
Charlottesville, Virginia
Thanks to the University of Virginia’s entrepreneurship education, the company BetterWorld has helped other businesses access fundraising opportunities throughout the pandemic. The former student who started this business is Whit Hunter. Hunter has said that the University of Virginia “helped him step back and think about the business and its potential way forward in new ways.” Today, the college offers undergrads and graduate students a range of resources. This includes centers, communities, and conferences. It also includes workspaces, accelerators, competitions, and funds that help student businesses succeed. QS and The Yale Tribune both note that a University of Virginia student founded the website Reddit.
6. University of Michigan
Ann, Arbor, Michigan
According to Entrepreneur Magazine, the University of Michigan gives undergraduate and graduate students the fifth-best hands-on entrepreneurial experiences and entrepreneurial studies for experiential learning. Forbes notes that the college is one of the top 10 undergraduate business degree programs for producing the most venture capital-backed startups. Student businesses at the University of Michigan are supported by Innovate Blue. This initiative runs over 15 entrepreneurship programs and centers in entrepreneurship. In May 2020, the college also released an app that helped small businesses stay open by conducting health screenings. By September of 2020, over 2,500 employers were using the app every day.
5. University of California, Berkeley
Berkeley, California
Forbes states that the University of California, Berkeley’s business incubator is incredible, making it one of the best colleges for start-ups. The publication notes that it even offers significant funding opportunities for the businesses that it incubates. It also notes that the college has produced the second most venture capital-backed startups of any college. There is no shortage of experiential learning opportunities for student entrepreneurs in the University of California, Berkeley’s business community. In fact, it currently has seven startup incubators, 10 prominent business-based student groups, and three entrepreneurship associations. It is also home to four business competitions, a global business community, and several graduate degree programs. That’s not to mention its stellar undergraduate business curriculum for entrepreneurship studies. The college was also quick to help businesses adapt to coronavirus. For example, the Sutardja Center for Entrepreneurship and Technology launched a range of initiatives aimed at businesses.
4. University of Pennsylvania
Philadelphia, Pennsylvania
One of the best colleges in our ranking for entrepreneurial initiative, The Wharton School at the University of Pennsylvania offers business students many opportunities to start and grow their own businesses. Besides undergraduate programs and degrees, the school’s entrepreneurship program includes innovation conferences, scaling workshops, and an institute for innovation management. It also includes funding, networking, advice, and more. University of Pennsylvania’s president, Amy Gutmann, was swift to announce coronavirus business support. In March 2020, she announced that the college would be dedicating $4 million to support independently owned businesses located in the college’s city district. Forbes considers the University of Pennsylvania to have an incredible business incubator, entrepreneurship center, and business community. Another Forbes source notes that the college has the fifth most venture capital-backed startups of any college. The Yale Tribune has recognized the University of Pennsylvania student-founded business Insomnia Cookies. The publication called it the 10th best student startup of the 21st century.
3. Massachusetts Institute of Technology
Boston, Massachusetts
In 2020, business majors at the Massachusetts Institute of Technology could access over 200 small business management resources. These were “dedicated to fostering entrepreneurship and innovation.” Specific entrepreneurship programs included the MIT Innovation Initiative, the MIT Sandbox Innovation Fund Program, the Martin Trust Center for MIT Entrepreneurship, and much more. Thanks to these opportunities, there were over 30,000 alumni-founded companies in 2014. In late 2020, the college’s Professor Yossi Sheffi published a book that can help businesses recover from coronavirus. The Yale Tribune states that two of the best student startups of the 21st century came from the college’s campus. These were Dropbox and 3dim. Forbes notes that the college has produced the third most venture capital-backed startups of any college. And the college has an incredible business incubator. It is made up of entrepreneurial centers. These centers support its undergraduate programs for business students interested in entrepreneurial studies.
2. Harvard University
Boston, Massachusetts
Since 2003, Harvard University has housed The Arthur Rock Center for Entrepreneurship. This center is for students seeking undergraduate degrees in business as well as entrepreneurial skills. In collaboration with the Technology and Entrepreneurship Center, this center has a range of tools that help entrepreneurship students make their business ideas successful, even those with an undergraduate major. Examples include an entrepreneurship clinic, competitions, business accelerators, and alumni networks. And the college has used its many business connections to find solutions to coronavirus challenges. For example, in August 2020, Google Cloud and Harvard’s Global Health Institute teamed up to offer free AI-powered coronavirus forecasting for those engaged with fighting the virus. Forbes notes that the college’s innovation lab runs an incredible business incubator for future business leaders and entrepreneurs. The college has the fourth most venture capital-backed startups of any educational institution. QS notes that Harvard was the birthplace of Facebook. And The Yale Tribune states that two of the best student startups came from Harvard Business School, namely Facebook and HourlyNerd. Clearly, it’s one of the best entrepreneurship colleges and business administration schools.
1. Stanford University
Stanford, California
This is best of the best undergraduate entrepreneurship programs. The entrepreneurship network of Stanford University has “deep ties to Silicon Valley and regions around the world.” On campus, there are dozens of organizations that focus on different aspects of entrepreneurship for future business leaders. For instance, there is the Center for Entrepreneurial Studies, The Stanford Center for Legal Informatics, the Association of Industry-Minded Stanford Professionals, and many more. Since coronavirus, the Stanford Seed Transformation Program has increased its support to over 800 businesses across Africa and India. This increased support includes mentoring, coaching, business consultants, and more. The Yale Tribune names the Stanford University student-founded company Snapchat the 14th best student startup. Forbes notes that the college handles the most venture capital-backed startups of any college in the world. QS notes that Snapchat and Google are two of the most successful student businesses started at a college. The other Forbes source notes that Stanford University has an amazing college incubator. It’s definitely one of the best business schools for business administration as well as one of the top entrepreneurship universities.
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