The Universidad de Montevideo was launched in 1986 as the Instituto de Estudios Empresariales de Montevideo (IEEM) in the Uruguayan Stock Exchange building. It was a pioneer in offering Master´s Degree Programs in Business Law, International Trade Law, and Economic Administrative Law in Uruguay. In 1992, the IEEM Business School launched a Master´s Degree Program in Business Administration.
Legally established as a non-profit organization, IEEM was authorized to operate as a private university when the Uruguayan government issued the decree 308/995 which established the requirements for the authorization and career recognition of private universities. Since then, the UM has grown and developed a solid national and international reputation based on its rigorous educational programs, renowned faculty, insightful publications and in-depth research projects.