IESA was established in 1965 in the oil-producing nation of Venezuela. The school’s founders created the private, nonprofit institution to establish a source of business talent that would facilitate the country’s development as it profited from the oil industry. As oil prices rose, both the private and public sectors of Venezuela expanded, and the school’s growth followed the growth of the economy.
IESA was among the first schools in the region to address both private and public management and to require core faculty members to possess PhDs. From the beginning, knowledge-based research has formed a key part of the educational process in both academic and executive education programs, and professors have contrasted global trends with local realities.