Flip it around: if Google opened up a new role for "Active engineers with MBAs", and presumably a few others followed suit, a top school or two (GSB/HBS/CBS/etc) would create the curriculum & recruiting plan to fill it. (Most likely Google could do this together with a school, they tend to have very close relationships.)
They also have (had? it's been 2 years since I was there) an active rotation program between eng and PM roles, with the opportunity to transition permanently. A number of my friends did it; I'd seriously considered it, but my manager was willing to let me do PM-type roles without formally switching job titles.
I think if you graduated a class of TeMBAs right now, they would have jobs just because of the MBA side of the equation.
And, I think they would kick-ass in what ever job they take because of their tech skills. Even stooping as low as to say that their Excel skills would rock because they know how to masterfully program macros.
But WOW, yes, if someone like Google got behind a program like this, it would take off like nobodies business.
But I think we really need to get regular businesses (Davids, not Goliaths) behind this. And somehow, show them the benefits of a well rounded TeMBA graduate.
So I have to agree with DelaneyM that the crux of the issue is demand-side: where is the need for specific managerial jobs that require a baseline technical understanding (to estimate timelines, speak intelligently about the product with clients, etc.) as well as basic business skills (negotiation, project management, strong network for potential clients) that is worth the salary that an individual who just invested $200k and 2 years worth of time will be asking?
The demand for them is crazy-high. Leadership roles in Norway are very rarely filled by hiring fresh graduates, but the consultancies lap them up.
It's an integrated 5-year master. They do engineering stuff the first three years, specializing in the third, and then they do two years of economics/business/leadership. It's very specialized, and to me it looks like they are OK at their chosen engineering discipline and OK at their chosen business discipline but not very well rounded. That's the sacrifices you have to make when you make a business/engineering combination but try to avoid making master-of-nones, I guess.
Their choices are (in each stage they can only chose one. 3. year available choices depends on 1/2. year choices):
1/2. year: CompSci/high-voltage/machine/marine
3. year: AI/digital economics/software/el. energy/heat & energy processes/production/marine projects and logistics/marine technical operations
4/5. year: economic optimization/project leadership/purchasing and supply/reorganization/investment and finance/innovation and entrepreneurship/HSE/strategy and business development
Basically they let you cross register with some Tuck Classes while doing research that is more self-directed than normal.
Source: I am in the program
[1] Cornell Tech MBA: http://tech.cornell.edu/programs/masters-programs/johnson-co...
[2] UW Foster Technology Management MBA: http://foster.uw.edu/academics/degree-programs/technology-ma...
Its already been done, and there are a wide-number of tech-specialized MBA programs.
I'd think that there would be some interest around this from the universities, and business is really crying out for this too.
From the Uni viewpoint, it is another product they can leverage, whilst still using there in house competencies and also creating cross university synergies (HBS-MIT TeMBA)
For businesses, they get exactly the top management they need - even for non-tech companies - a CIO/CTO with solid tech skills and business skills is a sure winner.
P.S. Please forgive me for slipping in the word synergy. I truly believe it's a great word, with a great meaning, but has been flogged to death by the consulting industry.
{Edit} Actually, I like the idea of a TeMBA, I am going to start a AskHN: What would the syllabus be for a TeMBA?
{Edit 2} Here's the link:
https://news.ycombinator.com/item?id=11894955