To prepare leaders to innovate in existing organizations or as new entities
In the United States, the national average for STEM salaries is $87,570, while non-STEM employees earn roughly half as much, with an annual average of $45,700. The Bureau of Labor Statistics predicted that demand for STEM jobs will grow by 13% by 2027. Feeling the heat in the job market, Arizona State University has launched a new partnership program offered by the highly ranked Herberger Institute of Design and the Arts, W. P. Carey School of Business, and Ira A. Fulton Schools of Engineering.
The Master of Science in Innovation and Venture Development (MS- IVD) is a one-year program offered on ASU’s Tempe campus. The program aims to prepare leaders with the mindset, skill sets, and practice needed to launch successful ventures in any industry or sector.
As a STEM-eligible program, the MS-IVD is designated by the U.S. Immigration and Customs Enforcement agency within the Department of Homeland Security. It provides greater opportunities for international students to find employment in the U.S. for up to 36 months beyond graduation.
The longer work authorization term focuses to help international graduates gain additional real-world skills and experience in the U.S. Also, the designation will benefit employers, who do not have to sponsor OPT (optional practical training), candidates.
The certification means international graduates of the MS-IVD program, which launches in fall 2020, can enter the U.S. job market and pursue the OPT extension immediately. Learning from design, business, and engineering — three critical disciplines in venture design is integrated into a single, studio-based program that provides students with the experience of launching a venture, preparing them to lead innovation and new businesses within large companies or at their enterprises.
“This is a ground-breaking program developed to provide graduates with the knowledge, experience, and leadership skills they need to be successful — while they are still in school,” said Cheryl Heller, director of design integration and director of the MS-IVD program. “Our goal is to develop the next generation of disruptive leaders of innovation. This STEM designation is an important part of that.”
