INSEAD and IESE launch European entrepreneurship accelerator

In an innovative step, IESE and INSEAD, two international business schools, have launched the ‘European Entrepreneurship Accelerator’ (EEA) for their MBA students. The joint initiative gives students the opportunity to experience serial entrepreneurship firsthand and is designed to put them in direct contact with high-growth and innovative companies across Europe. Run for the first time between January and March this year, the EEA is offered to around 30 full-time MBA students from the two business schools. Six companies were selected based on the following criteria: * High Growth (>100 % p.a.) * Attractive and convincing business model * Significant turnover and client list * Pan-European or global outlook * CEO is a proven serial entrepreneur 

A key element of the project was the serial entrepreneurs’ willingness to work directly with MBA students. The companies originated from Belgium, Germany, the Netherlands, Spain, and the UK; representing the software, logistics, healthcare, data storage and music distribution sectors. 

Students worked in mixed groups from both business schools according to the objectives agreed on with the CEO, who later graded them for the module. For example, designing a roadmap for a local player to become a pan-European leader, determining the right services to enter new geographical markets: and designing an exit strategy and business plan to enhance value to prospective buyers. 

Between January and March, the teams visited the companies, had regular review meetings with the entrepreneurs and kept in contact with each other by video conferences and state-of-the-art web based technology. Mathieu Carenzo a second year MBA student at IESE and participant in the course said, “It was a really inspiring experience, we were able to get inside the company and the mind of the guys that set it up. Working with students from another school also added a different dimension to the course.” 

INSEAD MBA student Calvin Lee commented: “The concept of matching MBA students with high-growth start-ups and seasoned serial entrepreneurs speaks to the innovation and strength of diversity in Europe. I really realized how important the team was to any venture’s success.” 

Hugo Verwijs, CEO of Human Inference and one of the serial entrepreneurs involved in EEA highlighted the win-win outcome of the initiative, "For me it was a great pleasure to work with young bright people from two of the finest business schools in Europe. Their theoretical background and, in most cases, some years of work experience, created the right environment for this project.... I would very much like to volunteer for the next one." 

The EEA was designed as a cooperative project by INSEAD and IESE. Julia Prats professor of entrepreneurship at IESE said, “We are delighted with the results of the course, the students got a real practical insight into running innovative high-growth companies and the entrepreneurs were able to cash in on MBA talent, it’s also been a great opportunity to widen IESE’s offering of entrepreneurship electives.” 

Peter Záboji, INSEAD Entrepreneur-in-Residence added, “Europe is spoiled for choice when it comes to business ideas or capital; what we are short of is entrepreneurial experience. This project is intended to give our students the opportunity to realize that there are better opportunities beyond big business, big banks and big consultancies!”