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 1999, and the Business Angels and Family Office Network helps create new high-growth businesses.

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



Journal Articles (refereed)

ZOTT, C., SNIHUR, Y. (2020). The genesis and metamorphosis of novelty imprints. how business model innovation emerges in young ventures. Academy of Management Journal, 63 (2), 554 - 583. doi:https://doi.org/10.5465/amj.2017.0706.
MOREIRA, S., KLUETER, T. M., TASSELLI, S. (2020). Competition, Technology Licensing-in, and Innovation. Organization Science. doi:10.1287/orsc.2019.1337. (Online first)
MEULEMAN, M., WILSON, N., WRIGHT, M., NECKEBROUCK, J. (2020). When the going gets tough. private equity firms' role as agents and the resolution of financial distress in buyouts. Journal of Small Business Management. doi:https://doi.org/10.1080/00472778.2020.1717242. (Online first)
KAPOOR, R., KLUETER, T. M. (2020). Progress and Setbacks: The Two Faces of Technology Emergence. Research Policy, 49 (1). doi:10.1016/j.respol.2019.103874.
MOREIRA, S., TAE, J. (2019). The Effect of Industry Leaders' Exploratory Innovation on Competitor Performance. Industry and Innovation, 26 (9), 965 - 987. doi:10.1080/13662716.2019.1593111.
MOREIRA, S., CABALEIRO, G., REICHSTEIN, T. (2019). Licensing Decision: A Rent Dissipation Lens Applied to Product Market Competition, Openness to External Knowledge and Exogenous Sunk Costs. Industrial and Corporate Change, 28 (4), 773 - 792.
ARANDA, C., ARELLANO, J., DÁVILA, A. (2019). Subjective Bonuses and Target Setting in Budget-Based Incentive Contracts. Management Accounting Research, 43, 45 - 60. doi:10.1016/j.mar.2018.07.003.
HUY, Q., ZOTT, C. (2019). Exploring the Affective Underpinnings of Dynamic Managerial Capabilities: How Managers' Emotion Regulation Behaviors Mobilize Resources for their Firms. Strategic Management Journal, 40 (1), 28 - 54. doi:10.1002/smj.2971.
NECKEBROUCK, J., MEULEMAN, M., MANIGART, S. (2018). Governance Implications of Attracting External Equity Investors In Private Family Firms. Academy of Management Perspectives. doi:10.5465/amp.2017.0204. (Online first)
MOREIRA, S., MARKUS, A., LAURSEN, K. (2018). Knowledge Diversity and Coordination: The Effect of Intrafirm Inventor Task Networks on Absorption Speed. Strategic Management Journal, 39 (9), 2517 - 2546. doi:10.1002/smj.2914.

Working Papers

MEHTA, K. (2019). Multi-Sensory Creative Thinking: A Synesthetic Technique for Design (WP-1216-E).
KLUETER, T. M., MONTEIRO, F. (2013). In Harsh - and Slack Times: How Does Firm Performance Affect the Intensity and the Direction of External Technology Sourcing? (WP-1091-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).


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.
SNIHUR, Y., ZOTT, C. (2018). The Genesis and Metamorphosis of Imprints: How Business Model Innovation Evolves in Young Firms. Academy of Management Proceedings.

Articles in other publications

DÁVILA, A., FOSTER, G., HE, X., SHIMIZU, C. (2019). How rankings shape your growth story. IESE Business School Insight (152), pp. 68 - 75.
PRATS, M. J., SIOTA, J., SACCOMANO, C., CANONICI, T., CONTIJOCH, X. (2018). Corporate Venturing: Challenges and best practices of large firms innovating with start-ups. The European Business Review.
MOREIRA, S. (2018). How to Hook Knowledge When Angling for Innovation. Learning Through Licensing. IESE Insight (36), pp. 29 - 35.
IESE INSIGHT, (2017). Wave: Is the Time Right for Crowd Equity? IESE Insight (35), pp. 60 - 64.
DÁVILA, A. (2017). What's the New Competitive Edge?. Implementing Strategy Is the Commodity. Alumni Magazine (147), pp. 16 - 19.


NUENO, P. (2019). Cheating yourself in business. Barcelona: Plataforma Editorial.
NUENO, P. (2017). The 2020 Board: The Future of Company Boards.
NUENO, P. (2017). Thank you, China. China's influence in the world is decisive in the 21st Century. Barcelona: Plataforma Editorial.
NUENO, P. (2016). The 2020 Board: The Future of Company Boards. Madrid: LID Editorial.
FOSTER, G., O'REILLY, N., DÁVILA, A. (2016). Sports Business Management: Decision Making Around the Globe. Abingdon, Oxon ; New York: Routledge.

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

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.
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.
ZOTT, C., AMIT, R. (2015). Business Model Innovation: Toward a Process Perspective. In Christina E. Shalley, Michael A. Hitt, and Jing Zhou (Eds.), Oxford Handbook of Creativity, Innovation and Entrepreneurship (pp. 395 - 406). Cape Town: Oxford University Press.
AMIT, R., ZOTT, C. (2015). Business Models. In James D. Wright (Ed.), International Encyclopedia of the Social & Behavioral Sciences (pp. 33 - 36). Amsterdam: Elsevier.


SIOTA, J., PRATS, J. (2020). Open innovation: improving your capability, deal flow, cost and speed with a corporate venturing ecosystem. IESE, Barcelona, Spain.
SIOTA, J., DÁVILA, A. (2020). Transfert de technologie. Commercialiser les découvertes des centres de recherche grâce à l’innovation connectée. IESE, Barcelona, Spain.
SIOTA, J., DÁVILA, A. (2020). Trasferimento di tecnologia. Commercializzare le scoperte nei centri di ricerca attraverso l'innovazione collegata. IESE, Barcelona, Spain.
SIOTA, J., ALUNNI, A., RIVEROS-CHACÓN, P., WILSON, M. (2020). Corporate Venturing: Insights for European Leaders in Government, University and Industry. Publications Office of the European Union.
SIOTA, J., PRATS, M. J. (2020). Corporate Venturing Latam: Corporate Giants' Collaboration with Start-Ups in Latin America. IESE Business School and Wayra.


LIECHTENSTEIN, H., KOLAROVA, L. (2020). Genmedi: How to Value a New Company for an Upcoming Round of Financing. IESE, E-207-E.
ROURE, J., SEGURADO, J. L. (2019). The Barceló Group: Entrepreneurial Spirit and Corporate Governance. IESE, E-206-E.
JOHNSON, R. (2019). Tradetix Limited (B). IESE, E-204-E.
JOHNSON, R. (2019). Tradetix Limited (A). IESE, E-203-E.
JOHNSON, R. (2019). Tradetix Limited (C). IESE, E-205-E.

Technical Notes

SIMON, J. (2020). Letter to a Young Operator on Managing During a Crisis. IESE, EN-34-E.
JOHNSON, R. (2020). Valuing Early-Stage Businesses: The Venture Capital Method. IESE, EN-33-E.
JOHNSON, R. (2013). Assessing a New Business Opportunity. IESE, EN-17-E.
NIEBOER, I., CARENZO, M., DÁVILA, A. (2011). The First 10 Questions for Would-be Searchers. IESE, EN-15-E.
NIEBOER, I., CARENZO, M., DÁVILA, A. (2011). Considerations for Entrepreneurial Acquisitions. IESE, EN-16-E.