Nyenrode Business University (abbreviated as NBU; Dutch: Nyenrode Business Universiteit) is an elite Dutch business university and one of the five private universities in the Netherlands. Founded in 1946, it is located on a large estate in the town of Breukelen, between Amsterdam and Utrecht. The educational institution is named after the castle where the course is located: Nijenrode castle. Nyenrode was founded under the name of the Netherlands Training Institute for Abroad (NOIB in Dutch) by renowned private Dutch companies, including KLM, Shell, Unilever, Philips and AkzoNobel with an objective- 'For Business, By Business'. The establishment was the result of an idea from KLM director Albert Plesman.