Social impact entrepreneur Brad Krauskopf is making co-working cool again. His businesses in Australia have been helped by an MBA from IE Business School.
The heat is rising outside, but from an office in Melbourne Brad Krauskopf is trying to keep a cool head. It is no easy business running a chain of start-up companies that are both for-profit and yet seriously sustainable.Not that he has lost any passion for the subject, which is making a grand comeback on the business school scene. Brad gained his MBA at Spain’s IE Business School, a champion of all things socially responsible and a school which has placed sustainability firmly back on its menu.
It has only been five years since Brad, who is the CEO and co-founder of Hub Australia, graduated from IE’s program, but so much has changed since then. He hasn’t just moved from Madrid back to Melbourne to launch a collection of learning community “hubs” – he has done so during perhaps the biggest crisis in business ethics this century; the build-up to the financial crisis.
Brad owns and runs a branch of the Impact Hub Network; part innovation lab, part business incubator, and part community centre. He makes money by selling memberships that allow Australians to access collaborative working and learning environments.
In four years the MBA graduate has steered the company’s growth to more than 1,000 members across three cities. Brad runs Hub Melbourne, Hub Sydney and Hub Adelaide, the latter the newest edition to his collaborative empire.
He has more ambitious plans for expansion and wants to create a platform for collaboration across “diverse” sectors and generations of people. The entrepreneur has just launched a third company, Third Spaces, focused on creating workspaces for organisations.
That might net him a profit, however small, and it would be easy to forget that these are businesses as well as social enterprises. Businesses that have huge “capital intensity”. Bad has invested a “very large sum”, sourced from investors and family, and let’s not forget the tens of thousands he paid to attend one of Europe’s premier business schools.
He admits it has been difficult, however rewarding. “The sheer capital intensity of the business has been a challenge,” Brad says while diving into a taxi in Melbourne. “You can’t do anything with the Hub without the capital required.”
If business school is famed for diversity then the cohort at IE, so far away from his home in Australia, provided an advantageous glimpse into his future. “A key aspect of the Hub, which is always its strength and a challenge, is the diversity of different people,” Brad says.
“We’re dealing with 50 different industries, and four generations of people every day. Collaboration is based on trust, so getting all those people to trust each other takes time.”
Four years has proved an adequate amount; the business has swelled, no doubt, but Brad has been running his own companies since he banked a Bachelor’s degree at Monash University.
His first company, TD Squared, managed and marketed large music events in Australia. He is surprised to hear the old girls' name, but lights up when talking about his first venture which he co-founded in 1995.
It is clearly a career path he was destined to follow, MBA or no MBA. What makes entrepreneurship so much better than the corporate track? “It was never a choice. It was just what I did,” Brad explains.
“I like creating something from nothing. The thing I enjoy most in entrepreneurship is that initial phase of getting off the ground.”
TD Squared was just a bit of fun, he says. He ran the company with a business partner during his early 20s’. The real test came seven years later when he became the managing director of an IT services company. He co-founded the business, Maxxam Computer Systems, and that gave him the chance to raise it from the ground up.
For a while they achieved some success. The co-founders grew revenues at an average of 40 per cent per annum over five years and were awarded a spot on Business Review Weekly’s Fast Starters list in 2007.
Why an earth did he leave? Brad can only talk freely about a couple of the company’s problems, he says. “It did well and then quite badly. Unfortunately I exited when we weren’t doing so well,” he explains.
“I was doing something I didn’t enjoy doing. It wasn’t aligned with what I was passionate about. I got to the point where I didn’t enjoy running my own company.”
A bad spot for any entrepreneur, he will agree. Brad has always been about creating for-profit businesses which also create impact and, ultimately, Maxxam Computer Systems wasn’t one of them.
He entered IE’s MBA program soon afterwards and specialized in Sustainability and Social Innovation. “I wanted to get the hell out of there. I wanted to make a complete and utter change to what I was doing,” Brad says of leaving his life behind in Australia.
“We’re talking about Madrid here; there are many worse choices you can make.” Indeed. IE is one of Europe’s highest-ranking MBA schools. But there were a few factors that drew him to Spain.
IE is renowned for its sustainability initiatives and Brad became the president of the school’s Net Impact Chapter. Incidentally that is how he got involved with the Hub. He met the founder of Hub Madrid, another branch of the organisation, and was inspired by their ability to make a huge social impact with very few resources.
The Hub tries to balance profit and impact, which means that you constantly try to do more than is required of the business, he says. “But not have to, that is not the right phrase; all companies should have to,” Brad quickly clarifies.
He can’t say the MBA is a key reason for his entrepreneurial success – not least because he was running companies years before flying to Spain. But it did give him exposure and diverse networking opportunities. And that, he says, has never been more relevant for today’s MBA students.
“It certainly exposed me. It was tremendously rewarding,” Brad says.
Schools that cater for social impact and diversity have a significant advantage. So too do companies, he adds. “The individuals and organizations that can figure out how to harness the value of it will find themselves with a significant advantage over companies that don’t.”
He will be hoping, then, that his start-ups share in that reward.
Student Reviews
My Review
Madrid Is incredible, I've had a fantastic time at IE University. I've had some excellent lecturers overall. They sincerely want the students to flourish and are concerned about developing a personal relationship with them. Having said that, students typically must fulfil their half of the contract by putting in the necessary work and demonstrating a desire to achieve success.
Coming Master
I spent 1 semester on my Erasmus during my BBA trip. This was the great experience and after that I decode to enroll for the master program there. I must say that the only disappointing fact is connected to distribution of the students. Master students are being connected to the old campus what is not fully fail.
Former BBA
As the former BBA student I can say that the level of the learning is quite high. In addition the place (IE Tower) is probably one of the most innovative and networking-support place in the Europe. I totally recoupment this Uni for business students.
International focus
IE university has a global perspective and attracts a highly diverse student body, with students from all over the world. This international environment fosters cross-cultural understanding and prepares students to work in a globalized world. This is same for the faculty members as well, the university's faculty members are from diverse parts of the world and are reputable. they are not only experts in their fields but are also often actively engaged in research and industry. Their practical experience and academic expertise create a stimulating learning environment.
Loved it
IE University, in my experience as a student, stands out as an outstanding institution for higher education. Its international perspective is a major strength, evident in the diverse student body that represents a multitude of countries and cultures. Interacting with such a global community has broadened my horizons and deepened my understanding of various subjects, providing a rich and comprehensive educational experience.
The quality of the faculty at IE University is exceptional. Many professors bring real-world experience to the classroom, making the learning process more practical and relevant. This approach not only enhances engagement with coursework but also ensures that students are well-prepared for their future careers. The accessibility of professors and their willingness to engage with students personally fosters a collaborative and supportive learning environment.
Practical learning is another significant advantage at IE University. The integration of real-world projects, internships, and case studies bridges the gap between theory and practice. This emphasis on hands-on experience equips students with practical skills and industry insights, making them more competitive in the job market.
IE University offers a wide range of programs across various fields of study, making it a versatile choice for both undergraduate and postgraduate students. This diversity ensures that individuals can find a program that aligns with their academic and career interests.
However, like any institution, IE University has its challenges. The cost of attending can be a major concern for some students, as tuition fees are relatively high. While scholarships and financial aid are available, not all students may qualify for them. This financial aspect is an important consideration, particularly for those with budget limitations.
The competitive nature of some courses and programs can create a high-pressure environment. While competition can be motivating for some, it may also lead to stress for others. Maintaining high academic standards can be demanding, and students should strive for a balance between excellence and well-being.
The workload can be quite challenging, especially for students undertaking double degrees or heavily involved in extracurricular activities. Effective time management is essential to manage academic demands while maintaining a healthy work-life balance.
In conclusion, I would recommend IE University to prospective students with specific considerations. If you value an international perspective, practical learning, and a diverse educational environment, IE University is an excellent choice. However, it's crucial to carefully weigh the tuition costs against the benefits and to be prepared for the competitive nature of some courses. Students should also be ready to handle a demanding workload. IE University has provided me with a rich and globally-focused education, equipping me for a career in an interconnected world. Ultimately, it's important to make an informed decision based on your educational and financial goals, along with a willingness to confront the challenges that may arise.
Rather Exciting
As a student at IE University, enrolled in the Business Administration program, I can confidently say that my experience at this institution has been overwhelmingly positive. IE University's innovative approach to education stands out as one of its most remarkable features. The interactive classes and focus on critical thinking, particularly through the use of case studies, have significantly enhanced my ability to apply theoretical knowledge to real-world business scenarios. Additionally, the global perspective at IE University, fostered by the diverse student body and international faculty, has broadened my understanding of global business practices, which is crucial in the field of Business Administration.
The university's strong industry connections have proven to be invaluable. These connections provide students with numerous internship opportunities and networking prospects, allowing us to gain practical experience and build professional relationships while still studying. Moreover, the comprehensive career support services offered by IE University, such as resume building, interview preparation, and job placement assistance, have been instrumental in preparing us for the job market.
On the flip side, it's important to mention that tuition costs at IE University can be relatively high, which may pose a financial challenge for some students, even though there are scholarships and financial aid options available. Additionally, the programs at IE University can be intensive, demanding a significant time commitment, which might not align with everyone's preferences.
In conclusion, I wholeheartedly recommend IE University to individuals considering a degree in Business Administration. The innovative teaching methods, global perspective, strong industry connections, and comprehensive career support make it an excellent choice for those aspiring to enter the world of business. However, prospective students should be aware of the financial considerations and be prepared for the intensive nature of the programs. If you're willing to invest in your education and are dedicated to your studies, IE University offers an exceptional and enriching educational experience in the field of Business Administration.
A Decent Experience
I've had the privilege of being a student at IE University, where I've been pursuing a degree in arts. My experience at IE University has been highly rewarding and unique. One of the aspects I appreciate the most is the university's strong emphasis on interdisciplinary learning. The opportunity to collaborate with students from diverse fields, including business, technology, and social sciences, has enriched my artistic endeavors. This cross-pollination of ideas has added depth and diversity to my creative work.
IE University's international perspective is another significant advantage. The institution's diverse student body and faculty from various corners of the world have broadened my artistic horizons and encouraged me to think more globally. In the field of arts, where cultural influences play a pivotal role, this global outlook has been invaluable.
The university also invests in modern resources and technology, providing students with access to cutting-edge software, creative tools, and state-of-the-art facilities. These resources have allowed me to explore new mediums and techniques, pushing the boundaries of my creativity.
Furthermore, IE University places a strong emphasis on practical experiences. This practical orientation has given me insights into the professional art world and how to navigate it effectively. Opportunities for internships and collaborations with art institutions have been instrumental in bridging the gap between academic learning and real-world application.
On the downside, tuition costs at IE University can be relatively high, which may pose a financial challenge for some prospective students. Additionally, the university's programs are quite intensive, demanding a substantial time commitment and strong time management skills.
In conclusion, I would wholeheartedly recommend IE University to students seeking an arts education with an interdisciplinary and global perspective. The institution's innovative resources, practical experiences, and international approach have significantly enriched my artistic journey. Nevertheless, it's crucial to consider the financial aspect and be prepared for the demanding nature of the programs. If you're willing to invest in your arts education and are committed to hard work, IE University offers a truly unique and rewarding artistic experience.
A Great Experience
As a student at IE University studying architecture, I have a unique perspective on the institution. Let me share my thoughts on this university:
Overall, my experience at IE University has been quite positive. The university's commitment to a holistic education, combined with its innovative approach to learning, has made my time here rewarding. Here are some key aspects I appreciate:
Interdisciplinary Approach: IE University places a strong emphasis on interdisciplinary learning. In the field of architecture, this means I've had the opportunity to collaborate with students from various backgrounds, such as engineering, business, and design. It's been enlightening to work on projects that integrate different disciplines, mirroring the real-world scenarios architects often find themselves in.
Faculty and Industry Connections: The professors at IE University are experienced professionals in their respective fields, and they bring a wealth of practical knowledge into the classroom. This has greatly enriched my architectural education. Additionally, the university's strong connections with industry professionals and firms provide students with valuable networking opportunities and potential internships.
Global Perspective: IE University's international approach to education is a significant advantage. I've had the chance to collaborate with students from all over the world, which has broadened my cultural awareness and global perspective. This is particularly important in architecture, as it's a field where global influences and trends play a significant role.
Innovation and Technology: The university's commitment to staying at the forefront of technological advancements is impressive. In architecture, this means access to cutting-edge software, tools, and resources, which have been instrumental in my academic and design work.
On the flip side, there are a few aspects that might not suit everyone:
Tuition Costs: IE University is a private institution, and as such, tuition can be on the higher side. This might be a challenge for some students, but there are scholarship opportunities and financial aid options available.
Intensive Programs: The university's programs are often quite intensive, requiring a significant time commitment. While this can be beneficial for learning, it can also be demanding, so time management skills are crucial.
In conclusion, I would certainly recommend IE University to those interested in studying architecture. Its unique approach to education, international perspective, and strong industry connections have enriched my architectural journey. Just keep in mind the financial considerations and be prepared to put in the effort, and you'll find a stimulating and rewarding academic experience at IE University.
A Global and Innovative Learning Experience
IE University is a dynamic and innovative institution that has gained recognition for its unique approach to education. There are several aspects that make it stand out, and while it may not be the perfect fit for everyone, it certainly has a lot to offer.
One of the notable strengths of IE University is its commitment to fostering a global perspective. The university attracts a diverse student body from all over the world, creating a rich multicultural environment. This diversity enriches the classroom experience and prepares students to thrive in an increasingly interconnected world. The emphasis on international exposure through study abroad programs, exchange partnerships, and a global network of alumni further enhances this global outlook.
IE University is also known for its focus on entrepreneurship and innovation. The institution places a strong emphasis on practical, real-world learning experiences that encourage students to develop an entrepreneurial mindset. This approach aligns well with the demands of the modern job market, where creativity and adaptability are highly valued.
Furthermore, IE University's faculty is often comprised of professionals with extensive industry experience, providing students with valuable insights and connections in their respective fields. The small class sizes enable more personalized attention, fostering a close-knit community and facilitating meaningful interactions between students and professors.
However, no university is without its drawbacks, and IE University is no exception. One potential downside is the cost of tuition, which can be relatively high compared to some public institutions. While scholarships and financial aid options are available, this cost may still be a barrier for some prospective students.
Another consideration is the intensity of the academic programs. IE University is known for its rigorous curriculum, and students often find themselves facing a demanding workload. While this can be an advantage for those who thrive in a challenging environment, it may not be suitable for individuals seeking a more relaxed college experience.
In conclusion, IE University is an excellent choice for students who are looking for a globally oriented, innovative, and academically rigorous education. Its emphasis on entrepreneurship, international exposure, and practical learning experiences can prepare students for success in a competitive job market. However, the high cost of tuition and the demanding nature of the programs should be carefully considered. Ultimately, whether IE University is the right fit depends on the individual's goals and preferences, but for those who are up to the challenge, it can be a rewarding and transformative educational experience.
The liquid learning method
I do like my program so much, since it gives me the possibility to develop my own personal skills while building a strong professional cv with plenty of extracurricular material. The amenities are extraordinary and the campus is super professional and convenient for networking!
The variety of courses
This university has provided me with the perfect university experience, complete with numerous resources that help students reach their goals. The beauty of this university is the variety of courses offered, and how the diverse nature of courses can prepare you for the real world.
High quality
The course has high-quality content, lessons, and educational materials. Everything is precise, concise, and well-explained so that this part can stay the same. It effectively provides full fundamental knowledge on the subject and suggests how to learn each concrete subtopic of digital marketing further. So, at the end of the course, I understood all the topics and substantially improved my skills in cooperation with marketing departments. The course also showed me approaches and tools to execute digital marketing so I can do the job myself.
As for improvements, it would be nice to work on the part dealing with tasks and developing individual projects. I felt like I needed more time for that. Doing homework and projects is essential for effective learning, but more time was required, harming the quality. Practice and individual projects should have more time and interactions between the students and the professor or learning facilitators. The course provided such opportunities for interaction, but doing the projects in a rush made it impossible to be prepared with questions for those meetings. Also, the more time students spend on practical tasks, the more they will remember. So, it would be great to extend the timing of the practice part.
