A B.S. in entrepreneurship is anything but

NEW YORK (CNNMoney.com) -- Entrepreneurship is the fastest-growing course of study on campuses nationwide, but never before have would-be moguls been able to get a degree in the field.

Until now. Grand Canyon University's College of Entrepreneurship, slated to open in January, will be the first fully accredited college in the country devoted exclusively to the study and practice of entrepreneurship.

Grand Canyon University will open the first College of Entrepreneurship of its kind in the U.S.

Based in Phoenix, the facility will offer an "Entrepreneur Factory" to house startup businesses, a student organization called "Club Entrepreneur" and an e-lab.

There will also be a venture-capital fund with $4.5 million set aside for students who propose a potentially successful entrepreneurial project.

Entrepreneurship classes will be taught by business owners with entrepreneurial experience and most are also available as online courses. Tuition is $360 a credit or approximately $12,000 per year.

"Entrepreneurship is, by nature, anything but academic," acknowledged Brent Richardson, chief executive officer of Grand Canyon University.

But "we identified a growing need to teach aspiring entrepreneurs as they deserve to be taught," he said, "in a setting rich with the spirit of entrepreneurship."

"We're looking to create the only 'pureblood' B.S. in entrepreneurial education, a new gold standard in the field," Entrepreneur-In-Residence Peter Burns said in a statement. "All too often, entrepreneurship is poorly taught, with theory trumping practice," said Burns.

Burns originally proposed the initiative to Richardson, who in turn agreed to invest approximately $2 million upfront.

Grand Canyon University is a private Christian university with about 11,000 students enrolled.

It's never too early to start thinking like an entrepreneur

Can entrepreneurship be taught?

Student showdown: Top 12 business plans