Erasmus for Young Entrepreneurs is a cross-border program facilitating the exchange of entrepreneurial and management experience. The experience consists also in the stay of a newly established or potential entrepreneur with a well-experienced entrepreneur running a small or medium-sized enterprise (SME) in another country.
The European Union partially funds the stay of new entrepreneurs. The European Commission (Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs for Enterprise and Industry) and the European Innovation Council and SME Executive Agency (EISMEA) are in charge of the implementation.
Since its launch in 2009, the scheme’s number of applications from new and host entrepreneurs willing to participate in the program has constantly increased. Over 19,000 entrepreneurs have taken part in more than 9,670 exchanges.
WHO CAN APPLY FOR THE PROGRAMME?
New and host entrepreneurs from EU countries and other participating countries are eligible for the program.
Who is considered a new entrepreneur?
A “new entrepreneur” is a would-be entrepreneur planning to start their own business based on a substantiated business plan or either a newly established entrepreneur with less than three years of experience running a business.
Who could be a host entrepreneur?
A successful and experienced entrepreneur (owner-manager) with at least three years of experience running a micro, small or medium-sized enterprise.
Erasmus for Young Entrepreneurs aims to boost Europe’s entrepreneurial culture. The program:
- reinforces entrepreneurial attitudes by offering skills, knowledge, and experience
- increases the number of start-ups and boosts their resilience
- Promote the transfer of ideas, knowledge, and cooperation between small firms
- helps small firms to network, innovate, and go international
- helps to create jobs
As a new entrepreneur, you will benefit from on-the-job training in a small or medium-sized enterprise in another Participating Country. This will ease the successful start of your business and strengthen your new enterprise. You can also benefit from access to new markets, international cooperation and potential possibilities for collaboration with business partners abroad.
As a host entrepreneur, you can benefit from fresh ideas from a motivated new entrepreneur in your business. He may have specialised skills or knowledge in an area you do not master, which could also complement yours. Most host entrepreneurs enjoyed the experience so much that they decided to host other new entrepreneurs afterwards.
HOW TO TAKE PART
New and experienced entrepreneurs who want to take part in the entrepreneurs’ exchange programme may apply by using the programme website (https://www.erasmus-entrepreneurs.eu/) And choose their preferred local contact point in their respective countries of residence. Your application should include a CV, motivation letter, and, if you’re a new entrepreneur, a business plan. Once accepted, you can search the programme database for an entrepreneur to be matched with.
Credits to: https://www.erasmus-entrepreneurs.eu/