The Adolfo Ibáñez University (UAI) is a private university of Chile pertaining to the Adolfo Ibáñez Foundation. In 1988, according with the new educational legislation, a new university was founded on the base of the Valparaiso Business School (Escuela de Negocios de Valparaiso), an old institution for the professional teaching in business administration founded in 1953 thanks to the contribution of Adolfo Ibáñez Boggiano. The new university would take its name some decades ahead. In the Chilean higher educational scheme, UAI is a private university accredited in the country by CNAP and internationally by AACSB and AMBA. The Adolfo Ibañez University is ranked 1° Private University in Chile according to América Economía, and the CSIC (Spanish institution for University research)