Hamid Rafieian’s Entrepreneurial Journey & EDHEC’s Top-Ranked MBA
Hamid Rafieian was no stranger to entrepreneurship when he joined EDHEC Business School’s Global MBA Class of 2024. As the co-founder and CEO of Karafs, Iran’s leading digital healthcare company, and the founder of Luna, another health tech startup, his ventures had already reached over 8 million users in his home country.
Yet, he wanted more—international training, broader exposure, and valuable connections—all things an MBA could offer. EDHEC’s program stood out, giving him the chance to network with successful entrepreneurs worldwide while receiving support to refine his business plan, go-to-market strategy, and financial forecasting for his next venture.
“EDHEC has a huge emphasis on entrepreneurship. I could see it in almost all the courses as well as other events in my program,” Rafieian told Poets&Quants.
Now, he’s building a French startup focused on women’s health, specifically for those navigating perimenopause and menopause. His digital platform aims to connect women with tools to track symptoms and manage their overall well-being.
“I had the chance to meet real-world entrepreneurs and mentors and learn from their experiences. EDHEC Entrepreneurs also helped connect me with VCs and angel investors, giving me deeper insight into funding and acceleration programs in Europe.”
When selecting an MBA, Rafieian prioritized top-ranked schools with strong faculty and a clear entrepreneurial focus. EDHEC’s location in the south of France was an added bonus.
His choice paid off. This year, EDHEC Business School’s Global MBA claimed the No. 1 spot in Poets&Quants’ ranking of the World’s Best MBA Programs for Entrepreneurship (2025).
The 2025 rankings were incredibly close—just over 1 point separated the top three programs. EDHEC made a stunning debut at No. 1, narrowly beating Arizona State’s W.P. Carey School of Business (45.76 vs. 44.69 out of 100).
The battle for No. 2 was even tighter—ASU Carey edged out Washington University’s Olin Business School by a razor-thin 0.01 points (44.69 vs. 44.68). Olin, which had held the top spot for five consecutive years, dropped to No. 3.
EDHEC dominated three key categories:
- Highest percentage of entrepreneurship & innovation-focused MBA electives
- Best ratio of entrepreneurs-in-residence per MBA graduate
- Highest percentage of MBAs directly involved in startups during the academic year
“Entrepreneurship is in EDHEC’s DNA,” said Sandra Richez, EDHEC Global MBA Program Director.
Founded in 1906 by entrepreneurs, EDHEC continues that legacy—8-10% of its Global MBA students launch businesses each year.
Top 10 MBA Programs for Entrepreneurship (2025)
| Rank | School | Raw Score | YoY Change |
|---|---|---|---|
| 1 | EDHEC Business School | 45.756 | New Entry |
| 2 | Arizona State (W.P. Carey) | 44.688 | ▲ 4 |
| 3 | WashU (Olin) | 44.678 | ▼ 2 |
| 4 | IE Business School | 42.768 | ▲ 3 |
| 5 | Michigan (Ross) | 40.806 | — |
| 6 | Oregon (Lundquist) | 35.281 | New Entry |
| 7 | Esade Business School | 35.185 | ▼ 3 |
| 8 | ESMT Berlin | 34.203 | ▼ 6 |
| 9 | UC-San Diego (Rady) | 33.006 | ▲ 3 |
| 10 | Virginia (Darden) | 32.587 | ▲ 9 |
Notable Highlights:
- Lundquist College (No. 6) offers a dedicated innovation & entrepreneurship MBA concentration and has supported student founders since 1989.
- 12% of Lundquist MBAs joined startups within three months of graduation (last 5 years), while 8% entered VC/private equity.
- The school also ranked 3rd for entrepreneurship-focused electives (42% of total).
Methodology & Key Changes
This year, 31 schools submitted data—three more than 2024, including four new entrants: EDHEC, INSEAD, Oregon (Lundquist), and Cornell Tech MBA.
Major Adjustment:
- In past years, some top schools (like Stanford GSB and HBS) were ranked without direct data, leading to lower placements. Now, only schools submitting data are included.
The ranking emphasizes per-student entrepreneurial resources, favoring smaller programs where mentorship and funding are more concentrated.
While elite M7 schools have strong ecosystems, this list highlights hidden gems where MBA students get high-impact entrepreneurial support.