Young startup companies in Australia believe that the MBA does not meet their needs of a fast-growing "scale-up" company, reports the Australian Financial Review. A group of these companies including unicorn and design platform Canva and SafetyCulture, a provider of occupational health and safety service, are therefore supporting a new fellowship where executives wanting to work for them will be taught on the job.

According to the Australian paper eight fellowships will be offered in a programme run by Sydney-based accelerator programme Startmate. The companies will invest 50,000 U.S. dollars for each fellowship, which targets experienced middle managers, lawyers, investment bankers or management consultants who might otherwise be interested in an MBA degree.

The fellowship consists of a one-month boot camp followed by three-month rotations through two of the businesses, with a job guaranteed inside one of them, or elsewhere in Startmate's network, at the end. The programme marks an initiative for executive education driven by startup companies as the founders of these companies believe that time studying theory still equates to time spent on the sidelines.

Read more on www.afr.com