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IE University startups attract €70 million in funding

IE Venture Lab | IE University

Mamu, a startup formed by graduates of IE Business School's International MBA, was the winner of the event in the Spanish capital.

IE University’s best startups have attracted €70 million in funding over the last seven years at Venture Days, the conferences organized by the institution around the world to promote entrepreneurship. In the most recent event, held at the Rafael del Pino Foundation in Madrid, twelve finalists presented their projects before a jury and an audience made up of international investors and business people.

Mamu, a startup formed by graduates of IE Business School’s International MBA, was the winner of the event in the Spanish capital. Mamu has developed a method by which brewery waste, which is normally discarded, is reused and recycled to grow king oyster mushrooms for non-culinary uses.

Among the finalists were Gudpik, whose aim is to help the food industry take advantage of unsold products, turning them into food packs at a discounted price. Mia Bakery is a different kind of pastry shop that offers French cakes that uses locally sourced organic products, appealing to consumers who want to avoid processed foods. uPower Green is innovating with portable batteries charged with clean energy.

Speaking at the event was Penny Low, founder of the Social Innovation Park. Ms Low focused her words on the importance of Mindful Leadership, the main theme of the event. “Addressing the ODS and the world’s challenges through applied technological and innovative solutions is a major opportunity to generate large-scale impact, along with sustainable financial income,” said Low.

“Once again, our students have shown how their diversity helps them form teams capable of developing innovative proposals.”

“Venture Day is the culmination of IE’s Venture Lab incubation program. On this occasion, we have 12 finalists who stand out for the diversity of their proposals, from business models to industries,” said Allison Rohe, deputy director of the Venture Lab. “Once again, our students have shown how their diversity helps them form teams capable of developing innovative proposals,” she added.

About IE University

IE University offers a technology-based learning ecosystem for leaders seeking to make a difference in the world through innovation, a global vision, an entrepreneurial mindset and a unique approach based on the Humanities. IE University’s faculty of more than 500 academics currently teach degrees, master’s programs, doctorates and executive training to students from 131 countries. IE University’s platform of more than 60,000 alumni is present in 165 countries.

About IE Venture Days

IE Venture Days are international events designed to foster the entrepreneurial ecosystem, connecting the best startups, investors, corporations, accelerators and thought-leaders. Every Venture Day lasts between 4-8 hours, and its format is a combination of keynote speakers, panel discussions and a startup competition with the most-promising entrepreneurs of the region.

IE Venture Days take place in cities around the world, connecting the entrepreneurial community across all continents. In the past three years, we have held more than 35 International Venture Days in cities such as Shanghai, Tokyo, Miami, Bogota, London, Santiago de Chile, Paris and many more.

Moreover, every year Madrid hosts two Venture Days attended by more than 500 people to celebrate the winners of the IE University Venture Lab Accelerator program.