The Entrepreneurship Scholarship covers half of the fees for Imperial's Full-Time MBA and will be available to students applying to the programme which starts in September 2017.
The scholarship is aimed at established entrepreneurs looking to build the necessary skills to expand an existing business or develop a new one.
To apply for the scholarship, candidates must have applied for the Full-Time MBA programme, and must answer two scholarship questions, found on the Imperial College Business School's website by Friday 23 June.
Diane Morgan, Associate Dean of Programmes at Imperial College Business School, said the scholarship recognises the value that established entrepreneurs can bring to the classroom, by enhancing peer learning with real work and life experience.
"Entrepreneurship is at the heart of our teaching on the Full-Time MBA as we seek to equip students with the knowledge, confidence and skills needed to succeed in business,” she said. “The need for a scholarship aimed at entrepreneurs has never been greater, as more MBA graduates seek to set up their own businesses."
She added: "We want to encourage people who have experienced the full life-cycle of a start-up to take advantage of the many benefits that an MBA brings to growing their business, including the opportunity to share expertise with other students and extend their networks through Imperial's dynamic start-up scene and links to industry in London."
The idea for the scholarship came from current Full-Time MBA student Byron McCaughey, who is also the founder of MBA Connect, a student-led group of experts who support and mentor start-up businesses at Imperial College Business School and across the college.
"The aim of an MBA is to build a more rounded set of business skills and expose students to opinions and ways of thinking that challenge their own,” he said. “Layer in these skills and new perspectives with the existing traits of entrepreneurs, such as vision and tenacity, and you have a powerful toolkit for building impactful businesses.”
Applicants to the Entrepreneurship Scholarship will need to demonstrate a strong track-record as an entrepreneur who has experienced the "full life-cycle" of a start-up, from opportunity recognition through to market entry, growth and maturity.
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