NYU Stern Launches New Focused One-Year MBA Programs:
The Tech MBA and Fashion & Luxury MBA
Program design integrates a business core, specialty area core and relevant experiential learning projects to give students industry access and experience
New York, NY, May 8, 2017: New York University Stern School of Business is launching a new category of specialized MBA, optimized for MBA seekers who are firmly committed to business careers either in technology or in fashion and luxury. Stern’s new Tech MBA and Fashion & Luxury MBA will enable students to build applicable knowledge, gain relevant real-world experience and earn their MBA in one year.
The program structure consists of four components: a business core; a technology or fashion and luxury core; real-world experiential learning projects with organizations in the respective specialty areas; and electives.
Given Stern’s proximity to multinational brands, start-ups and nonprofits, the School has offered experiential learning projects to its MBA students for more than 15 years. The Stern approach matches students with faculty to help an organization solve a real business challenge in real time. Stern MBAs have engaged with companies ranging from Diane Von Furstenberg to MasterCard to HBO and more, with student participation in projects growing by more than 130 percent in the past two years alone. With the establishment of the new focused MBAs that will incorporate real-world business projects as an essential element of the curriculum, Stern is elevating its commitment to experiential learning and branding it Stern Solutions.
“Because we sit in the heart of the business ecosystem that is New York City, with global headquarters and new economy upstarts just outside our doors, we are in constant conversation with industry about developing future talent," said Peter Henry, Dean, NYU Stern. "This dialogue drives continuous innovation at Stern, such as establishing the first FinTech MBA specialization at a business school last year to creating new specialized MBA programs now, so we stay as relevant to the new economy as we are to Wall Street."
Stern developed these programs through extensive conversations and in conjunction with industry advisors, including business leaders from Amazon, BuzzFeed, Citigroup and General Catalyst, to cite a few organizations. Many officially joined the newly formed Advisory Boards (see below for the complete list), and all will partner on future Stern Solutions projects.
The inaugural classes for the Tech MBA and Fashion & Luxury MBA will enroll at Stern in May 2018. Students will take 51 credits over 12 months and earn an MBA degree from Stern in one year.
“Stern’s Tech MBA and Fashion & Luxury MBA are intentionally designed for a specific type of MBA candidate, one with a definitive career focus and a passion for these fields,” said Raghu Sundaram, Vice Dean for MBA Programs and Online Learning. “These new MBAs provide broad exposure to core business areas with a depth of focus on the specialty area through an efficient schedule, reducing the opportunity cost with a more affordable MBA option.”
The Tech MBA is designed for business candidates with strong technology backgrounds. The program will prepare students to advance their careers in Product Management, FinTech and Tech Entrepreneurship across various industries. The program’s tech core was designed in partnership with NYU’s Courant Institute of Mathematical Sciences; NYU Stern is itself home to one of the largest faculty of computer and data scientists among business schools and will bring all these strengths to bear in the Tech MBA.
Stern is the first US business school to offer a Fashion & Luxury MBA. Over the past several years, the fashion and luxury industries have increasingly acknowledged the competitive advantage of adding business-educated talent to their creative ranks especially in the face of technological disruption. This program is designed for students with a commitment to management roles throughout these sectors—accessories, apparel, beauty, jewelry, high-end automotive, fine wines and spirits, real estate, wearable tech and more. They will also have access to the Stern Fashion Lab, a new central hub being established for industry-related projects and networking for all Stern students.
Tech MBA Advisory Board
• Don Callahan, Head of Technology & Operations, Citigroup
• Jared Cohen, Founder and CEO, Jigsaw; Advisor to the Executive Chairman of Alphabet Inc.
• Greg Coleman, President, BuzzFeed
• Joel Cutler, Co-founder and Managing Director, General Catalyst
• Michelle Peluso, Chief Marketing Officer, IBM Corporation
• Maria Renz, Vice President Delivery Experience and Robotics, Amazon
• Dan Schulman, President and CEO, PayPal
• Umesh Subramanian, Co-head of the Technology Division, Goldman Sachs
• Jeff Teper, Corporate Vice President, Office, OneDrive & SharePoint at Microsoft
• David Tisch, Managing Partner/Founder, BoxGroup
Fashion Lab Board
• Simon Collins, Former Dean, School of Fashion, Parsons School of Design; Founder, Fashion Culture Design Unconference
• Ron Faris, GM, Nike NYC Digital Studio
• Joseph Ferrara, Co-founder, NYU Stern Fashion Lab; Co-founder and Co-CEO, Resonance Companies; CEO, Ferrara Manufacturing Company
• Lawrence Lenihan, Co-founder, NYU Stern Fashion Lab; Co-founder and Co-CEO, Resonance Companies; Founder, FirstMark Capital
• Alexis Maybank, Founder, Gilt Group
• Uri Minkoff, Co-founder and CEO, Rebecca Minkoff; Creative Director/CEO, Uri Minkoff
• Stephanie Winston Wolkoff, President and CEO of SWW Creative; Founding Fashion Director for Lincoln Center; Former Director of Special Events and Special Projects for Vogue Magazine; Co-creator and Executive Producer of the Style Awards
About New York University Stern School of Business
New York University Stern School of Business, located in the heart of Greenwich Village, is one of the nation’s premier management education schools and research centers. NYU Stern, whose faculty includes three Nobel Laureates in Economics, offers a broad portfolio of programs at the graduate and undergraduate levels, all of them enriched by the dynamism, energy and deep resources of one of the world’s business capitals. Visit www.stern.nyu.edu and follow NYU Stern on Twitter: @NYUStern.
Statements from Members of the NYU Stern Tech MBA and
Fashion Lab Advisory Boards
NYU Stern Tech MBA Advisory Board
“In our line of work, there is an acute need for people who understand both business and technology. The Stern Tech MBA is primed to develop this type of talent.”
-- Don Callahan, Head of Technology & Operations, Citigroup
"Understanding how technology is reshaping our world is essential knowledge for any aspiring entrepreneur. NYU Stern’s new Tech MBA program combines immersive coursework in technology with the essential skills for people joining the business world to put those insights to use."
-- Jared Cohen, Founder and CEO, Jigsaw; Advisor to the Executive Chairman of Alphabet Inc.
“I'm thrilled to be working closely with Stern to help cultivate the next generation of tech leaders. The great work and inspired thinking of young people in technology has a tremendous impact on countless businesses across multiple industries – including the media industry – around the world.”
-- Greg Coleman, President, BuzzFeed
“Successful brands are constantly innovating their use of changing technology to attract and retain loyal customers. I believe Stern's new Tech MBA will help prepare future leaders to address that challenge, and bring technology and business strategy together in exciting and new ways.”
--Michelle Peluso, Chief Marketing Officer, IBM Corporation
“I’m excited to serve on NYU Stern’s board and advise on how NYU’s top-tier business school can continue producing students who are at the forefront of tech and business. Stern alumni are adding tremendous value at companies like Amazon, and I’m looking forward to joining their board.”
-- Maria Renz, Vice President Delivery Experience and Robotics, Amazon
"To realize the full potential of the rapidly growing FinTech industry, we need to equip future business leaders with the skills necessary to drive innovation and impact at scale. Stern is taking an exciting and needed step with its new Tech MBA and FinTech program. Graduates of the program will undoubtedly be an important factor in shaping the future of the FinTech sector.”
-- Dan Schulman, President and CEO, PayPal
“Today’s business environment requires an appreciation and understanding for how technology can be applied to solve real business problems. We are pleased to partner with Stern on this innovative and practical approach to preparing the next generation of tech-savvy business leaders and entrepreneurs.”
-- Umesh Subramanian, Co-head of the Technology Division, Goldman Sachs
“NYU Stern’s new Tech MBA program will fulfill an unmet industry need by preparing the next generation of leaders to embrace technological change and the new opportunities that enables. Stern has always offered a unique experience blending business, technology and academic pursuits with the industry and culture of New York City. My time as a student at NYU was transformative for both my life and my career.”
-- Jeff Teper, Corporate Vice President, Office, OneDrive & SharePoint at Microsoft
NYU Stern Fashion Lab Board
"The world is filled with promising designers who start labels that fail because they lack the business acumen to transform their innovations into viable businesses. By developing business talent that understands the creative side, NYU Stern will help close this gap by encouraging the kind of collaboration upon which successful brands are built."
-- Simon Collins, Former Dean, School of Fashion, Parsons School of Design; Founder, Fashion Culture Design Unconference
“NYU Stern Fashion Lab will be a nexus for fashion brands, retailers and media to come together with students, faculty, designers, technologists and entrepreneurs during this time of incredible disruption, and will play a valuable role in the Fashion & Luxury MBA student experience.”
-- Joseph Ferrara, Co-founder, NYU Stern Fashion Lab; Co-founder and Co-CEO, Resonance Companies; CEO, Ferrara Manufacturing Company
"Our goal is to be a platform for dialog, learning and action for the innovators who will embrace and drive future changes in the fashion industry."
-- Lawrence Lenihan, Co-founder, NYU Stern Fashion Lab; Co-founder and Co-CEO, Resonance Companies; Founder, FirstMark Capital
[Edited by Duncan on May 09, 2017]