IESE-trained startups create 102,800 jobs worldwide, raise $14.5 billion in capital

Companies founded by the IESE Business School community have created 102,800 jobs worldwide and raised $14.5 billion in capital, including 3 unicorns. These figures, which show how the school continues to expand its entrepreneurial ecosystem, come from the latest impact report from IESE´s Entrepreneurship and Innovation Center.

The jobs have been created by entrepreneurs trained through IESE´s programs or initiatives on five continents, and the capital raised comes from companies founded by IESE students or alumni. The report also concludes that 30 percent of IESE alumni start a company within five years of graduation. Not surprisingly, 1,400 IESE students are supported each year by the school´s entrepreneurial ecosystem.

A service to society

“Entrepreneurship is part of our school´s mission. Our goal is to develop leaders who aspire to have a profound, positive and lasting impact on individuals, companies and society through their professional excellence, integrity and spirit of service. Successful entrepreneurs, those with a true sense of purpose, provide a great service to society,” said Franz Heukamp, Dean of IESE. Here are some figures from the report:

• 102,800 jobs created by IESE-trained entrepreneurs on 5 continents.
• 14.5 billion dollars in capital raised by companies founded by IESE students and alumni (Note: only about 6 percent, some of the largest, have been accounted for since 1998).
• 30% of IESE alumni start a company within 5 years of graduation.
• 71 million dollars invested in startups through mechanisms associated with IESE alumni.

Based on cutting-edge research and thought leadership

“Entrepreneurship is one of the streams of thought leadership that the school develops not only in academic journals but also in the media,” says Prof. Gaizka Ormazabal, Associate Dean for Research and the PhD Program.

“IESE´s Entrepreneurship Department develops cutting-edge research, shedding light on novel, relevant and impactful fields,” says Prof. Christoph Zott, Head of IESE´s Entrepreneurship Department.

Some of the results of this expertise:

• Being selected by the European Commission and governments in Asia and Latin America to lead or manage funding for 27 competitive research projects.
• 20 publications per year, including academic articles, books, studies and business cases in journals such as Academy of Management Journal, Administration Science Quarterly, Strategic Management Journal, Harvard Business Review, MIT Management Sloan Review, and more.
• 1,683 publications in total, since 1972, also including book chapters, technical notes, proceedings, and other articles.

An Entrepreneurial Mindset in All Programs

IESE was the first European business school to teach entrepreneurship in its MBA program in 1974-1975. Since then, the school´s entrepreneurship and innovation activity has grown in quality, quantity, connection and impact. Moreover, “the value of an entrepreneurial mindset is transmitted through all our programs and activities,” she says. Mª Julia Prats, Academic Director of IESE´s Entrepreneurship and Innovation Center.

The report shows that some thirty professors and external collaborators support entrepreneurship teaching and activities; 16 different subjects are taught on the subject and nearly a hundred events on entrepreneurship are held, quadrupling the activity of six years ago. In addition, 1,400 students are supported each year by the school´s entrepreneurial ecosystem.

“Entrepreneurship needs more than academic knowledge to flourish,” says Josemaría Siota, Executive Director of IESE´s Entrepreneurship and Innovation Center. “That´s why the school has developed an ecosystem to support our current students, alumni, faculty and society at large to build solutions for a better tomorrow.” This includes the WeStart and WeGrow mentoring initiatives, Technology Transfer Group, International Search Funds Institute, Open Innovation Institute, Business Angels Network, and so on.

UN Sustainable Development Goals

The report, in addition to measuring the impact of IESE´s entrepreneurship activities, also tracks progress on its social goals, which are closely aligned with three of the UN Sustainable Development Goals:

1. UN Goal #8 Decent work and economic growth:

Create 50,000 new jobs by supporting 5,000 entrepreneurs in building their startups and raising at least €500 million in venture investments. Achieved (2020-2023): 65%.

2. UN Goal #17 Partnerships to Achieve Goals:

Positively impact 2,000 senior executives worldwide through research and entrepreneurship activity. Achieved (2020-2023): 40%.

3. UN Goal #9 Industry, Innovation and Infrastructure:

Launch 200 new publications related to search funds, corporate venturing, technology transfer, angel investment, and scaleups to foster innovation. Achieved (2020-2023): 55%.