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Why An MBA in Spain is Great for Entrepreneurs

By Temoor Iqbal Updated Aug 19, 2019

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Introduction
Innovative environment
Founder focus

Why An MBA in Spain is Great for Entrepreneurs main image

An MBA used to be a straightforward path to the boardroom, giving candidates with leadership potential the skills they needed to land a lucrative C-suite position. Now, however, an MBA is just as often seen as a vital crash course in business management for aspiring entrepreneurs; those who have an idea and want to develop it as efficiently and effectively as possible. This change is reflected in the statistics, with the 2017 Tomorrow’s MBA study finding that as many as one in five MBA applicants plan to start their own business.

With this in mind, MBA courses are changing to incorporate entrepreneurial skills, which are primarily geared towards those looking to start their own enterprise, but equally useful for those following the traditional route, as an entrepreneurial mindset is crucial for leaders in any industry. However, skills alone are not enough; the secret to successful entrepreneurship is collaboration – businesses thrive in a supportive environment. Location, therefore, is an extremely important consideration, both for starting your business and for your MBA studies.

Innovative environment

London and California are the two innovation hubs that come to mind in this respect, and both offer a strong selection of MBA courses that tap into the local entrepreneurial infrastructure. However, there are rising contenders offering prospective MBA students and tomorrow’s unicorn founders the same benefits in a less crowded, competitive space. Chief among these is Spain, a country whose struggling economy since the 2008 financial crisis has necessitated a creative, innovative startup culture.

Over the past few years, the number of startups and venture capitalists interested in Spain has risen rapidly, buoyed by an increase in government funding. Of course, the majority of this growth is centered on the major international cities of Madrid and Barcelona and MBA providers in these two cities have also risen to the challenge, providing elective modules and specialist support for budding entrepreneurs studying for an MBA in Spain.

Founder focus

Madrid’s IE Business School, for example, has its own Entrepreneurship Center which helps students connect with other entrepreneurs, network with venture capitalists, and make the jump from idea to inception. The center offers an entrepreneurship space, called Area 31, which allows MBA student startups to share a working space with one another, and with selected investors too. Area 31 is also home to IE Business School’s internal startup accelerator, Venture Lab, which helps selected projects to scale up and find real investment opportunities.

When it comes to the success of this program, the numbers speak for themselves: a staggering 25 percent of IE students launch their own companies. What’s more, these resources are also available to alumni, which means you’ll be able to keep building your business with access to IE’s networks and support structures even after your MBA graduation. In keeping with the focus on collaboration, alumni are also welcome to share their own experiences and advice with the next year’s crop of would-be founders.

Beyond this support for MBA students’ projects, IE also offers an elective course in entrepreneurship, helping students learn the theoretical and practical insights that will give them the edge in what is becoming a healthily competitive marketplace. Clearly, an MBA in Spain at IE Business School is a good choice for anyone interested in launching their own business, developing entrepreneurial skills to bring into the C-suite, or simply learning about the trends and dynamics set to define the business world of the future.

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