EAFIT University (Escuela de Administración, Finanzas e Instituto Tecnológico) is a private Colombian university established in 1960 by a group of entrepreneurs in Medellín, with the mission of educating professionals in managerial, financial, and technological topics. The institution is approved by the Colombian Ministry of Education, and is considered one of the top tier universities in Colombia by QS Rankings and MIDE. EAFIT is the first Colombian university that has received the Ministry of National Education’s Institutional High Quality accreditation twice in a row. Its admission rate is estimated to be around 70%.