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This article provides an overview of a professional graduate degree, the Master of Digital Media (MDM). The MDM is a unique joint venture of four institutions of higher learning in Vancouver, Canada (UBC, SFU, ECUAD, BCIT). Created with the support of the regional government, the program employs a collaborative project-based learning design model. The students learn innovation management by constructing digital media artifacts that attempt to solve real-world problems proposed by an industry partner. We describe the origins, academic structure and project-based course outlines, and emphasize the importance of remaining relevant to the changing landscape of the digital media industry while iteratively creating programs that provide our students with the opportunity to succeed upon graduation.JEL codes: O31, I23