Memorial University of Newfoundland will launch Canada's first MBA program in social enterprise and entrepreneurship this year, and is already receiving applications for the program. 

The St. John's university is hoping for at least 20 students to enrol in September in the first year of the program, which it refers to as MBA-SEE, said Isabelle Dostaler, the Dean of MUN’s Faculty of Business Administration.

The MBA-SEE differs from other entrepreneurship degrees because of its focus on social enterprise, in which businesses aim to help people and the environment while making money. Students will learn how to run a business supported by the three pillars of social enterprise: people, planet and profit.

“All of the courses will be structured around social enterprise,” said Dostaler in an interview. "This is the first time something like this has been offered in Canada."

Instead of specializing their studies on fields like traditional finance or management, MBA-SEE students will take the courses tailored to social ventures as one cohort over 12 months.

Dostaler said integrative and collaborative learning is key for the new program. Students will take part in “living-labs” in which organizations will come into the classroom to provide one-on-one mentorship and hands-on learning opportunities.

“The life of the organization will unfold in the classroom.," said Dostaler. "We want to bring reality in the classroom as much as we can. Today, universities really have to redefine themselves.”

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Dostaler continued: “You can find so much information on the internet. Gone are the days where students come to class to be delivered a two- or three-hour powerpoint presentation. We really need to move away from that and make sure we provide meaningful learning experiences to our students and this program will do just that.”

The Dean also hopes the program will result in more social ventures,  which would keep graduates in Newfoundland and Labrador. That is especially important in a province where the effects of a declining population are taking their toll on the economy.

“It’s our duty at MUN to promote the province," she said. "We need to make sure we develop new organizations in the province and keep people staying here to run these new organizations.”

Dostaler said the MBA-SEE is a response to a “new rise of capitalism” that takes on a more collaborative and less competitive approach to sustainable business.

Students in the cohort are expected to complete 36 credit-hours, enrolling in such courses as The Rise of Sustainable Capitalism, Economics and Public Policy and Organization Behaivour in Social Enterprise, to name a few.

The students, who are expected to attend the course full-time, will spend the last four months of the program in internships.

MUN has already been recognized for social entrepreneurship. The university is home to Enactus Memorial, an organization that fosters student-run social ventures. The program has taken its participants all over the world to present their businesses ideas. It has been recognized as the best Enactus program in Canada nine times, and won the world championship in 2008 and 2016.

The MBA-SEE just received approval from the university in December and was formally announced at the beginning of January. Because of the late start, Dostaler said the faculty will accept applications later than normal.

You can apply for the MBA-SEE cohort here.