This year’s cohort of graduates was notably large:
183 completed their Bachelor's studies,
64 earned a Master’s degree,
1 defended a doctoral thesis,
and one remarkable graduate crossed the stage twice – having completed both a Bachelor's and a Master's degree simultaneously!
Particularly noteworthy is the fact that 43 graduates were awarded cum laude honours – 15 at the Bachelor's level and 28 at the Master's. This speaks to the high academic standards, dedication and ambition of EBS students – not just to graduate, but to excel.
The list of graduates was long, but each name was announced with pride – reflecting years of effort, perseverance and determination. Each diploma represented more than a certificate; it signified readiness to lead, influence and make a difference.
EBS Rector Meelis Kitsing focused on this forward-looking readiness in his address, encouraging graduates to think big and act wisely. He emphasised that the diploma is not a final destination, but the beginning of a broader phase of personal development: “You have completed your exams, written your theses and earned the right to graduate. But this is just one step on the long road of lifelong learning. The world beyond university is open – but it is also complex and full of uncertainty, and that’s what you must learn to navigate. At university, we often create small-scale models of the world to help us understand its complexity. But in real life, we face the unknown – not precise formulas, but possibilities and risks.”
He also cautioned against wishful thinking, which seeks simple, definitive answers, but may lead to false confidence and mental stagnation: “The desire to find a single truth can lead to the illusion of knowledge. This creates a false sense of security and paralyses our thinking. We must learn not to hide from uncertainty, but to act consciously within it. That is why every leader must be ready to learn, to experience, and to experiment – even in uncertain conditions. Today’s world is not looking for leaders with instruction manuals. It is looking for those who can think across multiple futures.”
Kitsing also underlined the role of practical experience and tacit knowledge in leadership: “Tacit knowledge – that which cannot be transmitted through lectures or manuals – only emerges through action. It’s like learning to ride a bicycle: understanding the physics isn’t enough – you have to get on and, if necessary, fall a few times in order to truly learn.”
He went on to share his pride in EBS’s recent efforts and developments: “Our growth in research and development, the integration of academic knowledge with entrepreneurial practice – all of this shows that EBS, too, is learning and evolving alongside you. Our International Business Administration Bachelor’s programme has received EFMD accreditation for five years – a first in Estonia – placing EBS among the world’s leading business schools. International experts have also highlighted the value of our applied doctoral programme, which uniquely blends academic and practical knowledge. These achievements are the result of our entire community’s collective efforts – the work, dedication and insights of those who have developed, studied, taught and supported EBS.”
The ceremony also featured a heartfelt message from EBS alumnus Mihkel Mandre, who reflected on EBS’s profound impact and encouraged graduates to seek deeper meaning in all they do.
Mandre described graduating from EBS as one of life’s most memorable moments – not just the act of receiving a diploma, but a threshold between two life stages. According to him, the EBS spirit does not fade after graduation, but lives on in all those who have crossed paths with the school. That spirit is not found only in business models and lectures, but in values that shape people, leaders and creators.
He recalled the wisdom of EBS founder Madis Habakuk, whose sayings remain etched in the memories and actions of many alumni: “First get wise, then get rich,” and “Modesty is a virtue – but you’ll get further without it.”
As a personal example, Mandre shared the story of founding Lyfery, a life and health insurance company. The idea was not born of business logic alone, but from a desire to give insurance a deeper, more human-centred meaning – to leave a mark that could genuinely improve lives.
He urged graduates not to settle for mediocrity and not to fear failure: success comes through effort, and being invisible is worse than being wrong. Enterprise and work are not only about results, but also about people, values and impact.
Mandre closed his speech on a hopeful and unifying note, wishing graduates meaningful choices, high-flying futures and continued connection to the EBS community.
The graduates themselves were also given the floor. Speaking on behalf of her fellow students, MBA graduate Leelo Tamre-Teder offered a sincere and personal reflection on the EBS journey – the moments that shaped her and the values that will endure long after the final bell.
She opened with a quote from entrepreneur Max DePree: “We cannot become what we want by remaining what we are.”– highlighting that every step forward requires change, and it was the courage to change that brought them to EBS.
Leelo spoke candidly about how studying at EBS meant stepping out of her comfort zone, facing tough questions, sometimes making mistakes – but above all, constantly growing. She recalled late-night group projects, juggling work and family, and navigating diverse cultures and viewpoints – all of which contributed to her development.
She shared the inspiring story of Netflix founder Reed Hastings, who transformed an entire industry through a simple life experience. This story embodied the very essence of what they had learned at EBS: that innovation is not always about creating something new, but about seeing new opportunities in what already exists.
Leelo encouraged her fellow graduates not merely to adapt to change, but to create and lead it. She stressed that EBS graduates are now problem-solvers, creators and leaders – people with both the responsibility and the opportunity to shape the world. Leelo: “When the world says, ‘This is how it’s always been done,’ let us ask, ‘But is this the best way?’ was her call to action.”
In her closing thanks, she acknowledged the lecturers and mentors who pushed them beyond comfort, the families and friends who offered support and encouragement, and the coursemates who shared knowledge and forged lifelong connections. Leelo: “We came here as individuals but leave as a community – as agents of change, equipped with the skills and the drive to achieve something greater.”
The EBS University Graduation Ceremony 2025 was a memorable and uplifting occasion, where knowledge was given wings and values were given direction
It was more than a diploma ceremony – it was a shared belief that education, entrepreneurship and value-based action can truly shape the world. As the lights dimmed and the final applause echoed through the hall, one thing was clear: these 247 graduates were leaving with more than just knowledge – they were carrying a mindset that dares to explore, to question, to reflect and to lead.
Alongside their diplomas, they took with them something even more lasting – a sense of trust and confidence in their ability to create value, bear responsibility and remain connected to the community where their journey began.
