SKOLKOVO Opens Admission to First MBA Class

Moscow, Russia, November 29, 2008 --(PR.com)-- The Moscow School of Management SKOLKOVO announces the opening of admissions to its first full-time MBA class. The SKOLKOVO full-time MBA is due to start in September 2009 and will be the first full-time MBA programme in Russia with the studies held at the state-of-the-art campus, due to open at the same time.

SKOLKOVO MBA mission is to develop entrepreneurial leaders for fast-moving economies such as Russia, China and India. This generation of leaders will not only be unafraid of change, but will be made up of active and effective agents and drivers of change. Thriving in uncertainty and adversity, these people will be able to recognise potential where others see only challenges and difficulties. Innovative thinking, strong commitment for their goals and work, as well as a rare combination of fearlessness and sense to succeed in the rapidly changing economies of tomorrow, are crucial characteristics for a potential SKOLKOVO MBA participant. SKOLKOVO is keen to see its graduates have impact in business, government and society at large.

The unique feature of the SKOLKOVO MBA is the pedagogical process, which puts the student in the middle. The standard learning model is turned upside down at SKOLKOVO with the participants spending most of their time in the programme learning by doing. The important part of the experience at SKOLKOVO is the opportunity to find out first-hand how things are done differently in different places. Within the 16-month programme, each participant will be involved in five projects in Russia, India, China and the US in different fields such as public sector, commercial sector and a start-up.

Upon graduation, students with successful start-up ideas will have an opportunity to seek funding from a commercial Venture Fund, established by SKOLKOVO. In this way the Moscow School of Management SKOLKOVO aims to contribute to the diversification of Russia’s economic landscape.

SKOLKOVO’s special approach to learning means applicants should not only be people with the desire, passion, imagination and maturity to be able to take best advantage of what the programme has to offer, but also have the business acumen, critical mind and communication skills to contribute to the peer-learning approach. An entrepreneurial spirit is a key characteristic for a potential MBA participant. Applicants are expected to have a minimum of two or three years of managerial experience and to demonstrate high academic aptitude and a proficiency in English. The programme is created for global impact and aspires to enroll participants not only from Russia but from all corners of the world.

The programme duration is sixteen months and will be based at the new SKOLKOVO campus. The SKOLKOVO MBA fee is €50,000 all inclusive.

Opening the programme, Professor Wilfried Vanhonacker, Dean of SKOLKOVO, said: “We are living in a fast–changing and truly globalizing world. In order to move forward we need a new breed of leaders. SKOLKOVO MBA programme uniquely integrates broad knowledge, experience and expertise to shape the talent that will lead us into the future”.

Mr. Mike Hall, SKOLKOVO MBA Programme Director, underlined the importance of business education for managers working in fast-moving economies: “Fast-growing markets are similar in their uncertainty, dynamics, institutional and infrastructural gaps, lack of talents, rocketing changes and lag in technology. None of the existing business schools are able to provide you with the competences, both on emotional and physical levels, to turn these challenges into opportunities”.

Professor Andrei Volkov, Dean of SKOLKOVO, highlighted the role of innovative educational model offered by the programme: “Modern educational process is not based on the lectures and seminars principle. Now people are sharing their knowledge, not only receiving it from a professor. This is why the school has to be such a communicational space that allows inspiration of this dialogue. Our MBA programme differs from classical ones and this makes it interesting. We look for a person who has tried his own business, who has made his first capital, no matter big or small, and who sees that they need a quality lift in order to move further”.

The admission closes May 31, 2009. In the true entrepreneurial spirit of the school, a SKOLKOVO Challenge will be announced soon. It will give qualified applicants a substantial reduction on the normal tuition fee.

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