Erasmus for Young Entrepreneurs
Erasmus for Young Entrepreneurs is a project initiated by the EU. It aims at helping new entrepreneurs to acquire relevant skills for managing a small or medium sized enterprise by spending time in an enterprise in another EU country.
The general objective of Erasmus for Young Entrepreneurs is to facilitate exchanges of experience, learning and networking for new EU entrepreneurs by means of working with an experienced entrepreneur in another EU country.
The process to identify, validate, implement and evaluate stays abroad comprises the four following phases:
1. APPLICATION PHASE
Interested NEs and HEs (NEs are defined as entrepreneurs in the early stages and HEs, or Host Entrepreneurs, are experienced entrepreneurs) apply through an online registration tool and establish contact with the IO that they have chosen (see 4.3 below). The IOs responsible screen the entries and, once
completed, accept them. IO are the Intermediary organisations that have been officially appointed to establish contacts between NEs and HEs
2. MATCHING PHASE
The IOs facilitate contacts between accepted NEs and HEs and seek to make matches. Interested NEs and HEs can also search the programme’s database for appropriate partners and make suggestions to the IO that they have chosen.
3. CONTRACTING AND PREPARATION PHASE
The parties involved (NE, HE, IOs responsible) reach agreement on the Erasmus for Young Entrepreneurs commitment, business/work/learning plan, tasks, responsibilities, financial conditions, legal implications, etc. and sign the necessary agreements. The Commission gives the final approval of the match. NEs and HEs participate in preparatory activities organised by the IOs responsible.
4. IMPLEMENTATION PHASE
NEs and HEs complete the stay abroad in accordance with their needs in one or more phases and report on them. The IOs responsible monitor the value of the activity and evaluate the results.
Who can participate?
New Entrepreneurs (NE)
NEs are defined as entrepreneurs in the early stages. This includes both nascent entrepreneurs, who are firmly planning to start their own business based on a viable business plan, and entrepreneurs who have recently started their own business (i.e. been in operation for not more than three years). Whether planned or already existing, the business can be in any sector. NEs should be interested in contributing to the development of the HE’s business and making available their own business skills, as well as gaining useful know how for their own business. NEs must demonstrate a sound educational and vocational background and a viable business idea. NEs should also demonstrate vision, commitment, initiative and creativity. An NE candidate for the programme should also be able and willing to raise additional funds to cover the
costs of the stay that exceed the EU’s grant.
Host Entrepreneurs (HE)
Host entrepreneurs are successful and experienced entrepreneurs (ideally owners of a micro or small enterprise) or persons directly involved in entrepreneurship at SME board level, applying the EU definition of micro, small or medium sized enterprise HEs want to share their entrepreneurial experience and to benefit from the concrete contribution which an NE from another country will make to their business. HEs must be committed to work with the NE towards developing his/her entrepreneurial skills and know how.
Further information can be found at: