The International Association for the Exchange of Students for Technical Experience was founded in 1948 at Imperial College, London.

Imperial College Vacation Work Committee headed by Mr James Newby initiated a meeting with national organisations from 10 European countries in a post war effort to promote better understanding between countries and cultures.

Since 1948, the association has grown to include more than 80 countries world-wide and has exchanged in excess of 300,000 students. This means that yearly IAESTE exchanges around 6000 students playing a key role in the development of technical undergraduates able to make their mark in a global economy.