Innovation -Management
What will you learn?
In today’s fast-changing world, where new challenges and technologies constantly emerge, this programme equips students with the skills to create, develop, and exploit new opportunities – arguably the most valuable set of skills in the current landscape. Innovation and entrepreneurship are critical sources of future social and economic value. Students will learn to manage innovation processes and entrepreneurial activities in various settings, from startups to established organisations and across diverse sectors.
Accordingly, with these valuable competencies, graduates will be well-prepared to navigate complex business environments, address meaningful challenges, and drive positive change. Students will understand the differences between traditional management approaches and entrepreneurial strategies. They will gain knowledge of theoretical foundations and the competencies to apply various techniques and processes that drive innovation and entrepreneurship. The programme emphasises innovation’s potential to create positive economic, social, and environmental impact while exploring key concepts in business ethics, sustainability and emerging trends.
Choice between two paths
Students can choose between a programme structure leading to a Master of Science (MSc) in Innovation Management and a structure leading to a postgraduate qualification (MINN). Both structures require 90 ECTS credits. The curriculum can be completed in three terms, with full-time study in the autumn, spring, and summer.
MSc degree
Students finish 60 ECTS credits in courses according to the programme structure and a 30 ECTS-credit master’s thesis.
Postgraduate qualification (MINN)
Students finish 90 ECTS credits in courses according to the programme structure and can take an internship of up to 15 ECTS credits.
How will I learn?
Traditional classroom learning
Master's programmes in the Department of Business and Economics are on site.
Global expertise in English
Courses are conducted in English by both Icelandic and international specialists, offering students a global perspective on the material.
Organisation of teaching
The Department of Business and Economics courses are offered in two formats: as intensive modules with full-day sessions spanning two to four consecutive days or as weekly classes. Classes may be scheduled in the afternoon and on Saturdays.
Assessment
Courses feature a combination of assessment components, including group projects, individual assignments, and written or oral exams. Students may expect assignments and exams to occur outside of classroom hours, with final assessments typically completed shortly after each course concludes.
Internship
Students may pursue internships instead of elective courses, earning 7,5 or 15 ECTS credits. Each student is assigned a supervisor from the host company or institution and a faculty advisor for the duration of the internship. Internships are especially beneficial for students with limited work experience or those aiming to use their studies to explore new career opportunities.
*For further information, see the Guidelines for Internships in Master's Programmes.
What next?
Future prospects
No business or organisation survives without being able to develop new solutions to evolving challenges. In this respect, students completing a master’s in innovation management are uniquely situated. They know how to address societal, environmental, and business-related challenges by developing new and innovative solutions, starting new organisations, and managing innovation activities in established organizations.
The programme is suitable for those who want to have a meaningful impact in their professional lives by taking initiative, working creatively, and following through.
Upon completion of the programme, students should be able to:
- Establish and manage new companies.
- Be open to new ideas and creative thinking.
- Develop new ideas and identify opportunities for innovation and start-ups.
- Understand investments in new ventures and innovative projects.
- Apply different approaches to innovation management.
- Lead innovation teams and projects inside and outside organisations – for-profit and non-profit.
- Critically evaluate innovative practices and methods to propose and execute improvements.
- Facilitated collaboration between diverse professionals towards innovation.
- Make independent, professional decisions and stand by them.
- Apply critical and ethical thinking to examine and address challenges and circumstances to ensure responsible and sustainable operations.
It is clear that the teachers strive to keep the curriculum up-to-date, frequently exposing you to new concepts and areas of focus.
Structure
Programme structure
Length of study
14 months (three terms).
Terms
- Autumn: August to December
- Spring: January to May
- Summer: May to September
Maximum Study Period
The programme structure is based on full-time study but students have the opportunity to study part-time. The maximum study period is two years (six terms).
Choice Between Two Paths
Students can choose between a programme structure leading to a Master of Science (MSc) in Innovation Management and a structure leading to a postgraduate qualification (MINN). Both structures require 90 ECTS credits. The curriculum can be completed in three terms, with full-time study in the autumn, spring, and summer terms.
MSc degree
Students finish 60 ECTS credits in courses according to the programme structure and a 30 ECTS-credit master’s thesis.
Postgraduate qualification (MINN)
Students finish 90 ECTS credits in courses according to the programme structure and have the opportunity to take an internship of up to 15 ECTS credits.
Note
- Students with fewer than 30 ECTS in business administration in their bachelor's degree must take the following courses instead of electives in their first term:
- V-700-IMBU Introduction to Management and Business Concepts (0 ECTS)
- V-737-FAFI Fundamentals of Accounting and Finance (7.5 ECTS)
- Students can complete internships for a maximum of 15 ECTS credits instead of electives.
- The curriculum provides more information about the courses.
Facilities
Services and Good Facilities
Reykjavik University has facilities for practical teaching, group study rooms, a canteen, study and career counselling, and other student services.
Class Rooms and Reading Rooms
Reykjavík University has outstanding facilities for teaching, reading, and student collaboration. The classrooms are well-equipped, and students can use group work areas. Students have access to general facilities all day and night.
Excellent Service
The university facility offers easy access to study and career help, an international office, and technical aid. The library provides excellent and diverse working facilities. It also provides access to books and scholarly publications, and information specialists host open hours during which students can browse around, ask questions, and obtain assistance with reference work.
Shops and Cafe
RU facilities include the Háskólabúðin (convenience store), a cafe, a World Class training facility, and the Málið canteen.
Why choose our master’s programmes?
- Accelerated timeline: Earn your master’s degree in just 14 months with our full-time study programme.
- Exceptional internship opportunities: Gain hands-on experience with industry-leading organisations.
- Global expertise: Learn from both national and international specialists, offering a diverse and global perspective.
- Industry-aligned curriculum: Designed in collaboration with leading Icelandic firms, the programmes address both local and global business challenges.
- Courses delivered in English: All programmes are delivered in English, except Accounting and Auditing.