The university was founded in 1938 by the Industrialists and Tradesmen Association under the name "School for Industrial Studies" and its original aim was the advanced training of managerial executives. In 1945, it was renamed to the "Higher School for Industrial Studies", while in 1958 it was renamed again as the "Graduate School for Industrial Studies" and its seat was established in Piraeus. Since then the university has evolved from its original sole focus on business management and added additional academic fields, such as economics, finance, maritime studies, informatics, and statistics. In 1966, it became a public university, and in 1989, it received its present name.