Nyenrode Business Universiteit, also spelled as Nijenrode, is a Dutch business school and the only private university in the Netherlands. Founded in 1946, it is located on a large estate in the town of Breukelen, between Amsterdam and Utrecht. Nyenrode was founded in 1946 by top executives of Dutch multinational companies, such as Akzo, KLM, Philips, Shell and Unilever. This Nederlands Opleidings Instituut voor het Buitenland (NOIB) was soon named after the thirteenth century Castle of Nyenrode. In 1982 it was recognized as a university by the Dutch government (Universiteit Nyenrode). In 1992 Nyenrode decided to become independent of Dutch government subsidies, because subsidised universities in the Netherlands were not allowed to have a selection process of students. Today Nyenrode consists of two schools; the business school and the Nyenrode School of Accountancy and Controlling. A castle is located at the north-east corner of Nyenrode's grounds. Nyenrode has a strong international reputation in the field of business and management research and education.