Erasmus for Young Entrepreneurs is an exchange programme financed by the European Commission and operates across the participating EU countries through the cooperation of local contact points competent in business support (e.g. Chambers of Commerce, start-up centres, incubators, etc.). The programme aims to provide European entrepreneurs with the skills necessary to start and / or successfully run a small business in Europe through mutual exchanges of knowledge and business ideas with experienced entrepreneurs hosting new entrepreneurs for a period of 1 to 6 months.
Erasmus for Young Entrepreneurs promotes entrepreneurship and competitiveness, internationalization and growth of start-ups and /or established SMEs in the European Union.
This programme facilitates access to new markets and the search for potential business partners by consolidating networks of entrepreneurs and SMEs.
How does it work?
The process involves the following 4 phases:
1. Application
Aspiring and host entrepreneurs can participate by applying via the online registration tool and getting in touch with an Intermediary Organization that will be responsible for verifying the applications and, if all requirements are met, accepting them.
2. Matching
The Intermediary Organization will provide access to a database with profiles of new and host entrepreneurs participating in the program and will be responsible for the suitable profiles match based on preferences indicated.
3. Drafting of the contract and preparation phase
Once the profiles have been matched and following the final approval by the European Commission, the parties involved (entrepreneurs and intermediary organization) shall prepare a draft of the “Commitment to quality” defining the work / training program, tasks, responsibilities, expected results, financial conditions and legal implications of the exchange. Training courses will be organized by the contact points to prepare entrepreneurs for their final experience.
4. Experience
The programme will provide the participants with financial support. The exchange can be made in one or more separate steps (for a minimum of one week), depending on the needs of the entrepreneurs involved (the experience can last from one to six months and should be completed within an overall time span of twelve months). Participants will be asked to fill a feedback form whereas intermediary organizations will monitor the quality of the activity carried out and evaluate the results.
