The new “alternative” MBA progamme is being offered by Founders Academy. The study and coaching programme will stretch over nine months and be taught and organised by other entrepreneurs rather than academic staff. Its classes will be taught in a co-working office space in London according to a report in the Financial Times (FT).

Hoberman told the paper that his idea is to broaden the talent base for European start-ups and offer a way for those interested in switching careers to work for startups and earn as they learn. In his opinion, the current offers at business schools miss a more practical approach.

On the Founders Academy’s website, the organisers state that they view the programme as a “launchpad for ambitious professionals to reinvent their careers in London's most dynamic startups”. “Born out of Founders Forum, a global community of the world's most inspiring tech entrepreneurs, Founders Academy is pioneering a new model of education for tomorrow's world,” they describe themselves and their project.

The programme is also an opportunity for everyone struggling to meet the high cost of a traditional MBA as Founders Academy will not charge for tuition and students will even earn money during their internships. The aim is for £ 1,800 per month. Amongst the companies that will provide work experience are green energy provider Bulb, ethical supermarket Farmdrop and online property finance marketplace LendInvest.

To be able to apply, interested students must have a minimum of three years’ work experience. Initially 16 people will be offered places in the first round in January, so the programme will be hard to get in. The small cohort also makes sure that business schools will not have to view it as competition.

Read more on ft.com and foundersacademy.io