Congratulations! IE was a hot program about 10 years ago but then they got in trouble with some stats reporting (inflating certain numbers) and were removed from many MBA rankings. I think they never really recovered since then to their former status. I am sure all those issues have been addressed, but something you should be aware of.... My understanding is that they are more of a for-profit education approach (as a private university), along the lines of how EMBA works, though they are registered as a non-profit educational institution.

At the same time it is well known I feel, though most people while having heard about it, are not sure where it stands, which is fine.

I would say that for Entrepreneurship, if you are looking to gain some business skills, the program will work just fine, just like any others. If you are planning to engage with alumni or try to secure funding somehow or do fancier things, that's often based on exclusivity - the harder it is to get in somewhere, the more valuable the network and the more valuable that brand name.

Your profile sounds strong for EU schools - they like committed people who are determined and highly educated. I am guessing GRE or GMAT Should not be too much of a hassle as long as you are willing to go through the additional applications.