Key takeaways
- Colleges and universities in Indiana are ideal for aspiring entrepreneurs as the state is ranked the second best to start a business in by Forbes.
- The magazine has awarded Indiana a scaled score of 98 indicating it harbors a nurturing environment for new businesses.
- The business survival rate in Indiana is 77%, indicating 77 out of 100 businesses survive the first year of operation, which is remarkable.
- State initiatives like Indiana for the Bold, and Indiana Economic Development Corporation provide capital assistance, networking opportunities, and more to entrepreneurs.
- The average tuition for a four-year public institution in Indiana costs $9,986, which is 6.14% less than the national average.
- When reviewing entrepreneurship schools in Indiana, consider available specialization tracks, hands-on learning opportunities, and available resources.
- Purdue University, Kelley School of Business, and Butler University are just some of the top colleges in Indiana for entrepreneurship degrees.
Forbes ranks Indiana as one of the most entrepreneur-friendly states across the United States. In fact, Indiana ranks second in the magazine’s list of best states to start a business in 2024. If becoming an entrepreneur is on your long-term agenda, consider pursuing a formal education in the field from one of the colleges and universities in Indiana.
Many of you may believe that entrepreneurial instincts and abilities are innate and cannot be learned. While that may be true to some extent, a significant portion of entrepreneurial capabilities comes from the knowledge you possess. A bachelor’s degree in entrepreneurship can equip aspiring entrepreneurs with the tools needed for success.
What better place to study entrepreneurship than the one with promising entrepreneurial prospects? Read on to learn what makes Indiana one of the best states in which to start a business and find a list of recommended colleges and universities in the state for an entrepreneurship degree.
List of highlighted entrepreneurship colleges and universities in Indiana
Whether you are looking for ‘colleges in Fort Wayne Indiana’ or ‘colleges in Indianapolis Indiana’, the following list has an option for all. Students interested in pursuing a bachelor’s degree in entrepreneurship, or a business entrepreneurship degree will also find a relevant option to cater to their requirements in the following list.
Ball State University
Ball State University offers an Entrepreneurship and Innovation Major. Students have the choice to pursue a Bachelor of Arts or a Bachelor of Science, allowing students to choose the foundation path they want to pursue.
The program offers a unique and immersive experience that prepares students for a successful career as entrepreneurial leaders. Through the Entrepreneurship Center, students gain valuable hands-on experience by working on consulting projects, completing internships, and learning from accomplished entrepreneurs.
The program’s focus on practical application and real-world scenarios ensures that graduates are well-equipped to navigate the challenges and opportunities of the entrepreneurial landscape. With its nationally ranked curriculum and supportive faculty, Ball State provides students with the tools and resources necessary to thrive as entrepreneurs.
| Location | Minimum GPA | Acceptance rate | Tuition |
| Muncie, Indiana | 2.0 | 69% | $10,440 (in-state)
$27,924 (out-of-state) |
Butler University
Butler University offers a Bachelor of Science in Entrepreneurship and Innovation. The university’s program is ideal for aspiring entrepreneurs for a number of reasons. However, the main advantage of the program is having industry experts and professionals as faculty.
The program offers a unique blend of academic coursework and practical experiences. It provides students with the tools and mentorship needed to succeed in the competitive business world. Through immersive internships, business start-up experiences, and guidance from experienced faculty, students can develop a strong entrepreneurial mindset and learn how to navigate real-world challenges.
Additionally, the program focuses on creativity, innovation, and strategic risk-taking. Butler’s program equips students with the essential skills to make a lasting impact and achieve success in their entrepreneurial endeavors.
| Location | Minimum GPA | Acceptance rate | Tuition |
| Indianapolis, Indiana | 2.0 | 82% | $44,460 |
Purdue University Northwest
Purdue University Northwest’s Entrepreneurship program offers a strong foundation in management principles combined with practical entrepreneurial skills. It is the ideal business entrepreneurship degree for students wanting to develop strong management skills alongside entrepreneurial capability.
Students will gain insights into management theories and cutting-edge practices while learning to apply an entrepreneurial mindset to emerging business opportunities. The program’s curriculum equips students with the knowledge and tools needed to become successful business leaders and creators. The curriculum includes general education courses, business core courses, and specialized entrepreneurship electives.
Its focus on practical application and hands-on experience ensures Purdue University Northwest’s Entrepreneurship program provides students with the skills and confidence to launch and grow their own businesses.
| Location | Minimum GPA | Acceptance rate | Tuition |
| Hammond, Indiana | 3.0 | 73% | $8,174 (in-state)
$15,165 (out-of-state) |
Kelley School of Business
The Kelley School of Business is among the top-ranked business schools for entrepreneurship in Indiana. The college’s Entrepreneurship and Corporate Innovation major offers students the opportunity to develop a strong entrepreneurial mindset and learn the practical skills needed to succeed in today’s competitive business world.
Through a rigorous four-year curriculum that emphasizes real-world value creation, students will gain the confidence and knowledge to launch their own ventures or drive innovation within established organizations. The major’s close association with the renowned Johnson Center for Entrepreneurship and Innovation provides students with access to valuable resources, networking opportunities, and mentorship from industry experts.
| Location | Minimum GPA | Acceptance rate | Tuition |
| Bloomington, Indiana | 3.6 | 38% | $26,369 (in-state)
$45,350 (out-of-state) |
Why study entrepreneurship at colleges and universities in Indiana?
A thriving entrepreneurial community, combined with favorable government policies, availability of workforce, and funding all make Indiana a great place to pursue entrepreneurial ventures after graduating with a bachelor’s degree in entrepreneurship. Let’s take a deeper look at Indiana’s supportive entrepreneurial ecosystem.
Favorable business environment
According to Forbes, Indiana’s scaled score for business favorability is 98 out of 100. A scaled score refers to a numerical rating that represents the overall attractiveness of Indiana as a state for starting a business. Experts at the magazine found Indiana’s eco-system to be nurturing with near-perfect conditions for aspiring entrepreneurs. The following are some of the factors considered in the research.
LLC formation fee
The LLC formation fee in Indiana is just $100, which is significantly lower than that of other states on Forbes’ List. The fee for North Dakota is $135, South Dakota is $150, and North Carolina is $125. These states rank first, fourth, and fifth on Forbes’ list of the best states to start a business.
Business survival rate
The presence of a stable and nurturing environment in the state is evidenced by the solid 77% business survival rate. The rate indicates that 77 out of every 100 new businesses survive the first year of business operations, which is the make-or-break period for most small businesses.
Available funding for small businesses
Indiana also offers generous funding for small businesses, with an average of $24,502 available per company. This shows that the state is committed to supporting entrepreneurs. Budding entrepreneurs can seek financing from several organizations in the state.
Cost of living
Indiana isn’t just good for business; it’s also affordable. The cost of living here is 0.91, which is lower than the national average. This attracts both businesses and their employees.
Workforce availability
Moreover, aspiring entrepreneurs can benefit from the state’s large labor pool. Over 60% of the state’s population falls within the working-age bracket. Many of these employable individuals are currently seeking jobs as the state has an unemployment rate of 4.30%.
Government initiatives
Indiana has a higher unemployment rate than the national rate of 4.10%. Thus, the state’s focused efforts toward promoting entrepreneurial activity in the state make sense. Small businesses bring employment opportunities in line with the state’s agenda. Here are some government initiatives promoting entrepreneurial activity in the state.
Indiana For the Bold
Indiana For the Bold provides a supportive infrastructure for budding entrepreneurs. Through the initiative, the state provides entrepreneur support, access to capital, and industry partnerships that help businesses scale and grow.
Indiana Economic Development Corporation
The Indiana Economic Development Corporation features an Entrepreneurship and Small Business Team focused on providing essential support to new enterprises. The organization focuses on ecosystem development, entrepreneur support, capital access, innovative public-private partnerships, and storytelling.
Through these efforts, they not only provide resources but also promote entrepreneurial ventures.
Low cost of education
Indiana features a relatively lower cost of higher education than many other states in the US as per Education Data Initiative’s report. 4-year public colleges and universities in Indiana cost 6.14% less than the national average. Average tuition at public entrepreneurship schools costs $9,986 for the academic year 2022-2023.
Tuition fees for a public college in Indiana increased by 1.29% from 2020-2021 and 2021-2022, and then by 1.08% from 2021-2022 and 2022-2023. Accommodation costs amount to $11,129 and see a 1.39% year-on-year increase in rates.
Which degree is best for entrepreneurship?
There is no set educational direction for entrepreneurs. While a bachelor’s degree in entrepreneurship is the ideal path, it is not the only one. Students hoping to develop expertise in a particular aspect of entrepreneurship such as finance and human resources can pursue alternate degrees.
Entrepreneurship is a holistic field and to succeed as an entrepreneur one must develop a well-rounded understanding of all aspects of a business including management, and more. Here are some alternate degrees aspiring entrepreneurs can pursue:
- Human resources
- Business degrees
- Finance
How to review entrepreneurship schools at colleges and universities in Indiana?
Finding the ideal college in Indiana can prove to be challenging. With a plethora of available options, students may end up going about college selection the wrong way. Instead of searching for colleges by city such as ‘colleges in Fort Wayne Indiana’, or ‘colleges in Indianapolis Indiana’, browse top colleges in Indiana for a bachelor’s degree in entrepreneurship.
To find the best colleges in Indiana for entrepreneurship education, consider the following factors.
Accreditation
Lean towards entrepreneurship schools or business schools for entrepreneurship that are accredited by the Association to Advance Collegiate Schools of Business (AACSB) or the Accreditation Council for Business Schools and Programs (ACBSP). Accreditation from said organizations is an indicator of the highest quality of educational standards.
Program curriculum
Entrepreneurship degrees typically include general courses, entrepreneurship-specific courses, and specialized track options. Ensure the entrepreneurship school you are considering offers courses in your niche of interest. Additionally look for programs that provide practical experience through internships, co-op programs, or experiential learning projects.
Campus resources and facilities
Look for colleges and universities in Indiana with dedicated entrepreneurship centers or incubators that provide resources, networking opportunities, and support for student startups. Additionally, consider programs that offer networking events, conferences, and guest lectures from industry professionals.
Faculty expertise
The best colleges in Indiana will house industry experts as faculty. Research the qualifications and experience of the faculty members in the entrepreneurship program. Look for professors with industry experience and a passion for teaching entrepreneurship.
Additionally, look for programs that offer mentorship opportunities with successful entrepreneurs or business leaders.
Career services
The ideal entrepreneurship college in Indiana will look different for everyone. However, one with a strong student support network is suitable for all. Even entrepreneurship students can benefit from a well-connected job placement program as there are several job opportunities available for entrepreneurship graduates.
Research other business schools for entrepreneurship
One additional step you can take to ensure you make the right choice is to search for entrepreneurship schools across the country. A look into business schools for entrepreneurship in different states, especially those with a thriving entrepreneurial landscape can give you an idea of what to seek in your entrepreneurial education.
Here is a list of entrepreneurship colleges by state:
- Entrepreneurship colleges in Connecticut
- Alabama colleges for entrepreneurship
- Ideal New York colleges for entrepreneurship bachelors
- Explore Colorado colleges for entrepreneurship degree
- Colleges in Kentucky with the best entrepreneurship degrees
An extensive list of entrepreneurship colleges and universities in Indiana
Whether you are looking for ‘colleges in Fort Wayne Indiana’ or ‘colleges in Indianapolis Indiana’, the following list has an option for all. Students interested in pursuing a bachelor’s degree in entrepreneurship, or a business entrepreneurship degree will also find a relevant option to cater to their requirements in the following list.
Ball State University
Ball State University offers an Entrepreneurship and Innovation Major. Students have the choice to pursue a Bachelor of Arts or a Bachelor of Science, allowing students to choose the foundation path they want to pursue.
The program offers a unique and immersive experience that prepares students for a successful career as entrepreneurial leaders. Through the Entrepreneurship Center, students gain valuable hands-on experience by working on consulting projects, completing internships, and learning from accomplished entrepreneurs.
The program’s focus on practical application and real-world scenarios ensures that graduates are well-equipped to navigate the challenges and opportunities of the entrepreneurial landscape. With its nationally ranked curriculum and supportive faculty, Ball State provides students with the tools and resources necessary to thrive as entrepreneurs.
| Location | Minimum GPA | Acceptance rate | Tuition |
| Muncie, Indiana | 2.0 | 69% | $10,440 (in-state)
$27,924 (out-of-state) |
Butler University
Butler University offers a Bachelor of Science in Entrepreneurship and Innovation. The university’s program is ideal for aspiring entrepreneurs for a number of reasons. However, the main advantage of the program is having industry experts and professionals as faculty.
The program offers a unique blend of academic coursework and practical experiences. It provides students with the tools and mentorship needed to succeed in the competitive business world. Through immersive internships, business start-up experiences, and guidance from experienced faculty, students can develop a strong entrepreneurial mindset and learn how to navigate real-world challenges.
Additionally, the program focuses on creativity, innovation, and strategic risk-taking. Butler’s program equips students with the essential skills to make a lasting impact and achieve success in their entrepreneurial endeavors.
| Location | Minimum GPA | Acceptance rate | Tuition |
| Indianapolis, Indiana | 2.0 | 82% | $44,460 |
Purdue University Northwest
Purdue University Northwest’s Entrepreneurship program offers a strong foundation in management principles combined with practical entrepreneurial skills. It is the ideal business entrepreneurship degree for students wanting to develop strong management skills alongside entrepreneurial capability.
Students will gain insights into management theories and cutting-edge practices while learning to apply an entrepreneurial mindset to emerging business opportunities. The program’s curriculum equips students with the knowledge and tools needed to become successful business leaders and creators. The curriculum includes general education courses, business core courses, and specialized entrepreneurship electives.
Its focus on practical application and hands-on experience ensures Purdue University Northwest’s Entrepreneurship program provides students with the skills and confidence to launch and grow their own businesses.
| Location | Minimum GPA | Acceptance rate | Tuition |
| Hammond, Indiana | 3.0 | 73% | $8,174 (in-state)
$15,165 (out-of-state) |
Kelley School of Business
The Kelley School of Business is among the top-ranked business schools for entrepreneurship in Indiana. The college’s Entrepreneurship and Corporate Innovation major offers students the opportunity to develop a strong entrepreneurial mindset and learn the practical skills needed to succeed in today’s competitive business world.
Through a rigorous four-year curriculum that emphasizes real-world value creation, students will gain the confidence and knowledge to launch their own ventures or drive innovation within established organizations. The major’s close association with the renowned Johnson Center for Entrepreneurship and Innovation provides students with access to valuable resources, networking opportunities, and mentorship from industry experts.
| Location | Minimum GPA | Acceptance rate | Tuition |
| Bloomington, Indiana | 3.6 | 38% | $26,369 (in-state)
$45,350 (out-of-state) |
Enroll at one of the entrepreneurship colleges and universities in Indiana today!
For the ideal beginning to a successful entrepreneurial career, enroll at a college in Indiana for an entrepreneurship degree. Whether you choose the traditional route or pursue an alternate degree such as a business entrepreneurship degree, you will find the ideal program at the best colleges in Indiana.