Entrepreneurship Department

With a focus on new venture creation, intrapreneurship and entrepreneurial management within existing organizations, our Entrepreneurship Department fosters the entrepreneurial spirit. It is this spirit that has led a third of our alumni to participate in the creation of a company at some point during their career.

Among its activities, the department leads the core second-year MBA course on entrepreneurship, taught since 1974, in which students develop business plans. The best plans are presented at the annual New Business Forum. The Finaves venture capital fund has been providing seed money for alumni entrepreneurs since it was founded in 2000, and the Business Angels and Family Office Network helps create new high-growth businesses. The department is a key element of IESE’s entrepreneurial ecosystem for the development of new ventures, innovation and growth.

Coursework includes: Fundamentals of Entrepreneurial Management, Entrepreneurial Strategies for Social Impact, Entrepreneurial Negotiations, and Financing Entrepreneurial Opportunities.

Through their research, the department’s faculty is exploring cutting-edge topics related to entrepreneurship that affect the business community.


The Entrepreneurship Department, together with the Entrepreneurship and Innovation Center, Finaves and the Business Angels Network, regularly participates in and contributes to conferences and forums to support the entrepreneurial spirit. Some examples are:

  • Investment Forums by the IESE Business Angels
  • The Global Entrepreneurship Week
  • Ernst & Young Entrepreneur of the Year Award in Spain
  • European Foundation for Entrepreneurship Research
  • Association of High Growth Entrepreneurs Growth Plus

Areas of expertise

  • Innovation management
  • Entrepreneurship, intrapreneurship and starting new ventures
  • Growth management and ownership strategy
  • Growth strategies in turbulent environments
  • Organizational learning and capabilities
  • Growth of start-up companies
  • Family governance and venturing
  • Venture capital and private equity
  • Technology innovation, entrepreneurship and strategy


Former Collaborators


Journal Articles (refereed)

PACHECO, D., KHOURY, T. A. (2023). Social movements and entrepreneurial activity. A study of the U.S. solar energy industry. Research Policy, 52 (1), 104621. doi:10.1016/j.respol.2022.104621.
GHOSH, A., KLUETER, T. M. (2022). The Role of frictions due to top management in alliance termination decisions. Insights from established bio‐pharmaceutical firms. Journal of Management Studies, 59 (5), 1315-1353. doi:10.1111/joms.12780.
MEULEMAN, M., WILSON, N., WRIGHT, M., NECKEBROUCK, J. (2022). When the going gets tough. Private equity firms' role as agents and the resolution of financial distress in buyouts. Journal of Small Business Management, 60 (3), 513-540. doi:https://doi.org/10.1080/00472778.2020.1717242.
VEDULA, S., DOBLINGER, C., PACHECO, D., YORK, J., BACQ, S., RUSSO, M., DEAN, T. J. (2022). Entrepreneurship for the public good. A Review, critique, and path forward for social and environmental entrepreneurship research. Academy of Management Annals, 16 (1), 391-425. doi:10.5465/annals.2019.0143.
SNIHUR, Y., AMIT, R., ZOTT, C. (2021). Managing the Value Appropriation Dilemma in Business Model Innovation. Strategy Science, 6 (1), 22-38. doi:10.1287/stsc.2020.0113.
KAPOOR, R., KLUETER, T. M. (2021). Unbundling and managing uncertainty surrounding emerging technologies. Strategy Science, 6 (1), 62-74. doi:10.1287/stsc.2020.0118.
NECKEBROUCK, J., MEULEMAN, M., MANIGART, S. (2021). Governance Implications of Attracting External Equity Investors In Private Family Firms. Academy of Management Perspectives, 35 (1), 25-44. doi:https://doi.org/10.5465/amp.2017.0204.
DUSHNITSKY, G., E. GRAEBNER, M., ZOTT, C. (2020). Entrepreneurial responses to crisis. Strategic Entrepreneurship Journal, 14 (4), 537-548. doi:10.1002/sej.1383.
MOREIRA, S., KLUETER, T. M., TASSELLI, S. (2020). Competition, Technology Licensing-in, and Innovation. Organization Science, 31 (4), 1012-1036. doi:10.1287/orsc.2019.1337.
KAPOOR, R., KLUETER, T. M. (2020). Innovation’s uncertainty factor. Innovators must ask five critical questions to anticipate the trajectory and impact of a disruptive value proposition. MIT Sloan Management Review, 61 (4), 1-7.

Working Papers

KLUETER, T. M., ROSENKOPF, L., GHOSH, A. (2021). Back to the familiar?. How attention and rare experiences overcome local search in external technology sourcing.
MEHTA, K. (2019). Multi-Sensory Creative Thinking: A Synesthetic Technique for Design (WP-1216-E).
AGULLES, R., PRATS, M. J. (2012). Change, growth and learning (DI-955-E).
AGULLES, R., PRATS, M. J. (2011). Learning in practice: What organizational and management literature can contribute to professional and occupational development (DI-938-E).
MANIT, R., ZOTT, C. (2010). Business model innovation: Creating value in times of change (DI-870-E).


NECKEBROUCK, J., HUYGHE, A. (2019). Don't leave me now - Organizational responses to collective employee turnover. Annual Meeting Proceedings: Boston 2019 (pp. 18036). Academy of Management Proceedings.
DUNLAP, D. R., KLUETER, T. M. (2018). Laggards, Leading Imitators or Leapfroggers: How Are Emerging Markets Innovating? Academy of Management Proceedings.
GURSES K.,, GIONES, F., MEHTA, K. (2018). Global diffusion and deinstitutionalization of a controversial practice. Academy of Management Proceedings.
CONTI, R., KACPERCZYK, A. J., VALENTINI, G. (2018). Discrimination and Entrepreneurship: Evidence from LGBT Rights Laws. Academy of Management Proceedings.
FRANKENBERGER, K., ZOTT, C. (2018). The role of differentiation, integration, and governance in developing innovative business models. Academy of Management Proceedings.

NECKEBROUCK, J. (2022). Why workforce “rents” may threaten strategy inferences from accounting measures of performance. Strategic Leadership and Corporate Governance Workshop - Esade.
NECKEBROUCK, J. (2021). Employee rent sharing and competitive advantage. Exploring an s-shaped rent sharing curve. SMS 41st Annual Conference, Virtual Toronto.
WALDRON, T., NAVIS, C., ARONSON, O., YORK, J., PACHECO, D. (2019). Values-based rivalry. A theoretical framework of rivalry between activists and firms. Sustainability, Ethics, and Entrepreneurship Conference, Miami , USA..
PACHECO, D., GREENE, J., DEAN, T. J. (2019). The New sustainability frontier. Accelerating innovation through system change. Sustainability, Ethics, and Entrepreneurship Conference. Miami, USA..
PACHECO, D., DIVITO, L., WALDRON, T. (2018). Filling the gap. The role of entrepreneurs in driving change towards sustainability in the sustainable apparel industry. Academy of Management Conference. Chicago, USA.

Articles in other publications

KOLAROVA, L., KELLY, P., SIMON, J., JOHNSON R., R. (2023). The Big Picture: The search fund wave. IESE Business School Insight (163), pp. 34-35.
KOLAROVA, L., KELLY, P., SIMON, J., JOHNSON R., R. (2023). The Big Picture: Oleada de fondos de búsqueda. IESE Business School Insight (163), pp. 34-35.
PRATS, M. J. (2022). Adopting a retail phygital experience via open innovation. The Story of WOW. Blog IESE.
SIOTA, J., PRATS, M. J. (2022). The Three internal barriers to deep-tech corporate venturing. Chief innovation officers must tackle not-invented-here syndrome, risk aversion, and top-down cultures to successfully collaborate with deep-tech startups.. MIT Sloan Management Review.
FITÉ NAVARRO, R. M., MEHTA, K., NUENO, P. (2021). Verbideas: un modelo nuevo para la innovación continua. Harvard Deusto Business Review, 317, pp. 68-77.


SIMON, J. (2021). Search funds & entrepreneurial acquisitions. The Roadmap for buying a business and leading it to the next level. Victoria, BC: Tellwell Talent.
NUENO, P. (2021). Mayores dirigiendo bien. Barcelona: Plataforma Editorial.
AMIT, R., ZOTT, C. (2020). Business model innovation strategy. Transformational concepts and tools for entrepreneurial leaders. Chichester: John Wiley & Sons.
NUENO, P. (2020). Dirigiendo con velocidad. Barcelona: Plataforma Editorial.
NUENO, P. (2019). Cheating yourself in business. Barcelona: Plataforma Editorial.

Edited books

DÁVILA, A., EPSTEIN, M. J., MANZONI, J.-F. (2012). Performance Measurement and Management Control. Global Issues. Bingley [etc.]: Emerald Group Publishing Limited.
EPSTEIN, M. J., DÁVILA, A., MANZONI, J.-F. (2010). Performance Measurement and Management Control. Innovative Concepts and Practices. Bingley [etc.]: Emerald Group Publishing Limited.

Book Chapters

ROURE, J., SEGURADO, J. L. (2016). El legado emprendedor en la Familia Empresaria. El papel de la Family Office. En Marcelo Paladino, Lucio Traverso, Paula Caputo (Eds.), De la Empresa Familiar a la Familia Empresaria: Un itinerario para la trascendencia (pp. 373 - 427). Argentina: LID Editorial Empresarial.
ENER, H., HOANG, H. (2016). When do biotechnology ventures pursue international R&D alliances?. In Phillip H. Phan (Ed.), Academic Entrepreneurship: Translating Discoveries to the Marketplace (pp. 65 - 93). Cheltenham: Edward Elgar Publishing.
NUENO, P. (2016). El despliegue global de las empresas. En Gerardo Bongiovanni y Álvaro Vargas Llosa (Ed.), Ideas en Libertad. Homenaje de 80 autores a Mario Vargas Llosa (pp. 171 - 173). Argentina: LID Editorial Empresarial.
KLUETER, T. M., DUSHNITSKY, G. (2016). Linking Technologies to Applications - Insights from Online Markets for Technology. In Timothy B. Folta , Constance E. Helfat , Samina Karim (Eds.), Resource Redeployment and Corporate Strategy (pp. 285 - 317). Bingley: Emerald Group Publishing Limited.
AMIT, R., ZOTT, C. (2016). Business Model Design: A Dynamic Capability Perspective. In David J. Teece and Sohvi Leih (Ed.), The Oxford Handbook of Dynamic Capabilities (pp. 1 - 4). Cape Town: Oxford University Press.


ROURE, J., SEGURADO, J. L. (2022). L’ecosistema Emprenedor a Catalunya (2002-2022). Desenvolupament i transformació. Institut Català de Finances, Spain.
KOLAROVA, L., KELLY, P., SIMON, J., JOHNSON R., R. (2022). International Search Funds-2022. Selected Observations. IESE.
ROURE, J., CABALLERO MEDINA, L., DE SAN JOSÉ RIESTRA, A. (2022). Informe Business Angels 2022. La inversión en startups. Actividad y tendencias.
ROURE, J., CABALLERO MEDINA, L., DE SAN JOSÉ RIESTRA, A. (2022). Business Angel Report 2022. Investment in start-ups. Activity and trends.
PRATS, M. J., ALCARAZ, J. A. (2022). Análisis de una nueva generación de start-ups en España y Portugal. CaixaBank.


PINHEIRO SAURIN, L., PRATS, M. J. (2022). PERSEO (A). Iberdola's Corporate Entrepreneurship Quest. IESE, E-229-E.
PINHEIRO SAURIN, L., PRATS, M. J. (2022). PERSEO (B). Iberdola's Corporate Entrepreneurship Quest. IESE, E-230-E.
PINHEIRO SAURIN, L., PRATS, M. J. (2022). PERSEO (C). Iberdola's Corporate Entrepreneurship Quest. IESE, E-231-E.
PINHEIRO SAURIN, L., PRATS, M. J. (2022). Findasense. Scaling Up Meaningful CX. IESE, E-227-E.
JOHNSON R., R. (2022). Marc Bartomeus and Spain's First Search Fund. IESE, E-226-E.

Technical Notes

SEGURADO, J. L., ROURE, J. (2022). Venture Boards (I). Consejos de administración en empresas emergentes: papel y evolución. IESE, EN-37.
SEGURADO, J. L. (2022). Venture Boards (II). Consejos de administración en empresas emergentes: implementación y funcionamiento. IESE, EN-38.
SEGURADO, J. L., ROURE, J. (2022). Lograr un puesto como consejero independiente (I). Hoja de ruta y autodiagnóstico personal. IESE, EN-35.
SEGURADO, J. L., ROURE, J. (2022). Lograr un puesto como consejero independiente (II). Análisis y due diligence previos. IESE, EN-36.
SIMON, J. (2020). Letter to a Young Operator on Managing During a Crisis. IESE, EN-34-E.