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Institute for Endowment Management and Entrepreneurial Finance


The IFEE at ESMT Berlin integrates activities at the intersection of the fields of entrepreneurship and finance in a unique way. These activities span research, teaching, as well as interactions with practitioners. The IFEE is led by the POK Pühringer PS Chair for Entrepreneurship and also encompasses a visiting professorship in Finance and Endowment Management position.

Areas of focus

  • Research

    Research performed by members of the IFEE covers a range of topics such as human capital in startups, crowdfunding, as well as endowment management at universities. This research has appeared in top tier academic journals such as Management Science, Organization Science, and Science. Research insights are diffused widely to practitioners and policy makers and have been covered by media such as the Wall Street Journal, the New York Times, and der Spiegel.

  • Teaching

    IFEE faculty offer courses and seminars in entrepreneurship, finance, as well as endowment management. Members of the IFEE are leading the Portfolio Management Program (PMP) at ESMT, which gives students the unique opportunity to build knowledge and skills in asset management and finance. The PMP has dedicated space at ESMT’s entrepreneurial Campus in Berlin Schöneberg, where students have access to professional tools such as Bloomberg terminals as well as collaboration spaces.

  • Practice

    The IFEE initiates and co-sponsors a range of activities that connect research and practice such as conferences and workshops. In addition, the IFEE closely interacts with SpaceShack, a public co-working space at ESMT’s campus in Berlin Schöneberg. SpaceShack gives ESMT students access to resources to develop their entrepreneurial ideas and stimulates IFEE research activities.

By integrating research, teaching, and practice in the areas of entrepreneurship and finance, IFEE pursues ESMT’s mission to create and impart new knowledge to advance business and society, and to develop entrepreneurial leaders.

Visiting professorship


IFEE Visiting Professorship in Finance and Endowment Management

(Berlin, Germany and Vitznau, Switzerland)

  • Summer 2018: Michael Weber


    Associate Professor of Finance and Cohen and Keenoy Faculty Scholar, Booth School of Business, The University of Chicago


    Michael Weber joined Chicago Booth in 2014 as an assistant professor of finance and was promoted to associate professor in 2018. He is also a faculty research fellow at the National Bureau of Economic Research in the Monetary Economics and Asset Pricing groups, a member of the Macro Finance Society, and a research affiliate at the CESifo Research Network. His research interests include asset pricing, macroeconomics, international finance, and household finance. His work on downside risk in currency markets and other asset classes earned the 2013 AQR Insight Award. He has published in leading economics and finance journals such as the American Economic Review, the Review of Economic Studies, and the Journal of Financial Economics.

    Web bio

Programs & initiatives

Portfolio Management Program (PMP)

An optional two-year elective, during the MIM program, wherein selected students actively manage a real-money portfolio - 1 million euros per group with a total portfolio value of 3 million euros. The concept of the PMP enables participants to combine theory and practice to develop real trading strategies on the open market. PMP students learn how to cope with the positive and negative dynamics of active investing and how to develop their own strategies in global markets.

PMP web page


In cooperation with ESMT Berlin, the P & K Pühringer Gemeinnützige Stiftung is fostering startups with new co-working offices in Berlin-Schöneberg. The 3500-square-meter space is provided by the Pühringer Group. The company, which is run by two ESMT full-time MBA alumni with a third managing director, provides an inspiring working environment for entrepreneurs.

Additionally, ESMT students, who are starting their own businesses, can apply for free co-working space at Space Shack through ESMT. There is also a free working space available for use by ESMT staff, students, and alumni.


SpaceShack web page