Students with the intent to be self-employed require more action based approaches to entrepreneurial learning, in comparison to traditional methods (Mwasalwiba, 2010). Action-based pedagogies potentially allow for learning from highly emotional critical incidents in the venture creation process, provided that action is paired with reflection activities (Cope and Watts, 2000). The aim of our study is to investigate a specific type of action based education programs – higher education programs providing entrepreneurial education utilizing active creation of new ventures as the primary learning vessel. The purpose is to better understand the structure, components, impact and learning outcomes of these programs. Thus, the paper asks the question: What are the defining characteristics of a venture creation program?