With Europe’s growing focus on digital transformation, sustainability, and global competitiveness, there is an increasing demand for innovation-driven leaders who can spearhead change.
To cultivate this next generation of forward-thinking entrepreneurs and business leaders, numerous scholarships are available across Europe for 2025.
These scholarships aim to support students and professionals who are passionate about innovation in business, technology, and sustainability.
This article outlines some of the top business innovation scholarships in Europe, their eligibility requirements, and the application process.
Table of Contents
EIT Digital Master School Scholarships
EIT Digital, part of the European Institute of Innovation and Technology, offers scholarships for students pursuing master’s degrees focused on digital innovation and entrepreneurship.
The program is structured to give students exposure to both business and technology, enabling them to drive digital transformation across industries.
Eligibility
Open to EU and international students with a bachelor’s degree in computer science, information technology, electrical engineering, or a related field.
Scholarship Coverage
Tuition waiver and a monthly allowance of €1,000 to cover living expenses.
Application Process
Applications are submitted online via the EIT Digital portal. Students are required to submit their academic transcripts, a personal statement, and recommendation letters.
Applications are reviewed based on academic merit, motivation, and alignment with EIT Digital’s mission.
Erasmus+ Scholarships for Business Innovation
The Erasmus+ program provides scholarships for students enrolled in Erasmus Mundus Joint Master’s Degrees (EMJMDs) related to business innovation and entrepreneurship.
The program offers students the opportunity to study at multiple European universities, fostering a multinational perspective on business innovation.
Eligibility
Open to EU and non-EU students who have completed a bachelor’s degree and meet the entry requirements for the specific EMJMD program.
Scholarship Coverage
Tuition fees, travel expenses, and a monthly stipend for living costs, which can vary based on the student’s country of origin.
Application Process
Applications are completed on the Erasmus+ website. Applicants must submit a CV, academic records, a motivation letter, and language proficiency certificates.
Selection criteria include academic excellence, motivation, and the applicant’s potential to contribute to European business innovation.
HEC Paris MBA Scholarships for Innovation in Business
HEC Paris offers a variety of scholarships to MBA students with a demonstrated interest in business innovation and entrepreneurship.
The school’s MBA program is known for its focus on innovation, leadership, and international networking, making it a popular choice for aspiring entrepreneurs.
Eligibility
Open to all HEC Paris MBA candidates, both EU and international, who have a strong academic record and professional background in business.
Scholarship Coverage
Awards range from €10,000 to €40,000, which can cover a significant portion of tuition fees.
Application Process
Candidates apply directly through the HEC MBA application portal.
A scholarship application essay may be required, in which candidates outline their interest in business innovation and their future career aspirations.
Applications are evaluated based on academic performance, professional achievements, and innovation potential.
London School of Economics (LSE) Innovation and Entrepreneurship Scholarships
LSE offers scholarships specifically designed for students enrolled in its MSc programs in Innovation and Entrepreneurship.
These scholarships aim to attract high-achieving students with a passion for creating value through business innovation and are available to both domestic and international applicants.
Eligibility
Open to MSc students in Innovation, Entrepreneurship, and Management, who demonstrate academic excellence and financial need.
Scholarship Coverage
Scholarships range from partial to full tuition coverage, depending on the student’s financial situation and academic merit.
Application Process
Applicants need to apply through LSE’s online portal. In addition to academic records, applicants must submit a personal statement detailing their commitment to innovation and entrepreneurship.
Priority is given to candidates who demonstrate leadership potential in business.
DAAD Scholarships for Business Innovation in Germany
The German Academic Exchange Service (DAAD) provides scholarships for international students looking to pursue postgraduate studies in Germany, including programs related to business innovation. DAAD scholarships are highly competitive and support students in programs that emphasize entrepreneurship, digital transformation, and sustainability.
Eligibility
Open to international students with a strong academic background in business or related fields.
Some programs may require work experience.
Scholarship Coverage
Monthly stipend, health insurance, travel allowance, and in some cases, coverage of tuition fees.
Application Process
Applications are submitted through the DAAD portal. Requirements include academic transcripts, a study proposal, and letters of recommendation.
DAAD scholarships are awarded based on academic excellence, leadership potential, and alignment with Germany’s goals for innovation in business.
Rotterdam School of Management (RSM) Business Innovation Scholarships
The Rotterdam School of Management at Erasmus University offers scholarships for students in their Master’s in Business Innovation and Entrepreneurship program.
The scholarships target students who wish to drive change within organizations and pursue entrepreneurial ventures.
Eligibility
Open to both EU and non-EU students enrolled in the MSc in Business Innovation program.
Applicants must demonstrate strong academic credentials and an interest in entrepreneurship.
Scholarship Coverage
Awards range from €5,000 to €10,000, applied towards tuition fees.
Application Process
Candidates apply through the RSM portal, with a requirement to submit academic records, a personal statement, and letters of recommendation.
Selection is based on academic merit, motivation, and leadership potential in the business innovation sector.
INSEAD Scholarships for Entrepreneurship and Innovation
INSEAD offers several scholarships for students in its MBA and executive education programs who demonstrate a commitment to entrepreneurship and innovation.
Known for its strong focus on entrepreneurship, INSEAD provides a global network that supports students in launching new ventures.
Eligibility
Open to MBA candidates and executive education participants with an entrepreneurial background or a clear vision for business innovation.
Scholarship Coverage
Scholarship amounts vary, with some awards covering up to 50% of tuition costs.
Application Process
Applicants submit their applications through the INSEAD scholarship portal. Requirements include a personal statement, academic records, and a clear outline of career goals related to business innovation.
Selection is based on academic excellence, professional achievements, and entrepreneurial potential.
Tips for Applying to Business Innovation Scholarships in Europe
Tailor Your Application
Many scholarships seek candidates with a clear vision for innovation.
Make sure your application highlights specific goals and projects you wish to pursue in business innovation.
Showcase Leadership and Creativity
Scholarship committees often look for individuals who demonstrate strong leadership and creativity.
Highlight experiences where you showcased these qualities.
Focus on Impact
Scholarships for business innovation often prioritize applicants who want to make a difference in their field.
Describe how your work or studies will contribute to positive change in business or society.
Prepare a Strong Personal Statement
Your personal statement is your chance to make a compelling case.
Explain why you’re passionate about business innovation, your long-term goals, and how the scholarship will help you achieve them.
Conclusion
Europe offers a wealth of scholarship opportunities for students interested in business innovation, providing not only financial support but also valuable networks and learning experiences.
From the tech-driven EIT Digital Master School to prestigious programs like those at INSEAD and LSE, there are numerous options to help fund your education and accelerate your career in business innovation.
By carefully selecting and preparing for these scholarships, you can take a significant step towards becoming a leader in the global business landscape.