Although Microsoft founder Bill Gates is considered Harvard’s “most successful dropout,” Facebook founder Mark Zuckerberg, also a Harvard dropout, is fast closing in on his success. Another great techie the late Steve Jobs dropped out of Reed College to start Apple, and the rest as they say is history. Achievers like them amply demonstrate that you don’t need a college degree to start-up and become successful. Does that mean that the MBA, arguably the most sought after degree of our times, has no place in the life of an entrepreneur? Opinions vary.

MBA: Of no use but courses on entrepreneurship are useful

IIT Bombay alumnus and founder of holachef.com Saurabh Saxena has been a part of the start-up ecosystem in India since 2006—first only as an entrepreneur, then also as an angel investor. Saxena believes entrepreneurship must be learned on the job but online management and technical courses can give aspiring entrepreneurs a good head start.

“Check out Coursera’s Growing Entrepreneurship in Transitioning Economies course and other courses that introduce the entrepreneurship process,” says Saxena.

Incidentally, Saxena has lectured students at Rustomjee Business School in Mumbai on entrepreneurship and technology management.

MBA: Creates a solid grounding for start-up success

“Any MBA from a good institute delivers valuable instruction in business management and appreciation for the need for organisational structure to succeed in a competitive business environment,” says Ravi Saxena, managing director, Wonderchef Home Appliances India, and an MBA from IIM Ahmedabad who has built 11 businesses from scratch.

If you’d like to start-up some day but see value in getting an MBA degree as a backup or as a solid grounding, go in for an MBA with dedicated subjects on leadership and entrepreneurship management, suggests Saxena.

MBA: Not a prerequisite, but combine it with internships if you decide to pursue one

“The best way to prepare to start-up is to work at one,” advises Saurabh Arora, CEO, Lybrate, a health technology start-up, and an MBA from Columbia University, USA.

If you decide to get an MBA, intern at a start-up that is in its infancy. Doing so will give you plenty of opportunities to develop skill sets that will come in handy when you take the plunge. Consider doing semester internships, not just summer internships.

Most importantly, pursue the MBA with the right spirit. An MBA is not just about attending classes and acquiring a degree. It’s about holistic development and about broadening your horizons. So, use your study time to push yourself out of your comfort zone, surround yourself with smart people, learn to network, connect with alumni of your B-school, sign up for unusual projects and sharpen your problem-solving abilities, advises Arora.