What are the characteristics of an aspiring entrepreneur?
An aspiring entrepreneur is anyone who wishes to start up a business or has already started one within the last three years.
Aspiring entrepreneurs will have to demonstrate their motivation by writing a business plan. Holding a business idea is essential to participate in the programme.
An aspiring Entrepreneur must be a permanent resident in one of programme participating countries.
What are the characteristics of a host entrepreneur?
A host entrepreneur has to have a minimum of 3 years of experience in the management of a micro, small, or medium enterprise in one of the programme participating countries or to be directly involved in entrepreneurship as a board member of a SME.
Host Entrepreneurs shall have the ambition/willingness to share their experience and skills with aspiring entrepreneurs benefiting from them in the acquisition of new skills and new areas of business in another programme participating country.
Host entrepreneurs must commit to ensuring the development of aspiring entrepreneurs’ skills through mentoring and training on the job process.
Is there an age limit to participate in the program?
There is no age limit to participate in the Erasmus for Young Entrepreneurs programme, whether you are aspiring or host entrepreneurs. Therefore, please keep in mind the other requirements specified in the Application Guidelines with respect to experiences and competencies.
Can self-employed professionals apply as hosts or aspiring entrepreneurs?
Yes, according to the European definition of small and medium-sized enterprises, self-employed professionals are considered entrepreneurs and thus can participate in the program as hosts or aspiring entrepreneurs.
Is the program limited to specific areas?
No, business activities can be related to any sector.
What is a business plan?
A business plan is a document containing a summary of the operational and financial objectives of your own business, diagrams and detailed budgets. It highlights how the set goals will be achieved.
Can a host entrepreneur accept more than one aspiring entrepreneur?
There is no limit to the number of aspiring entrepreneurs that can be hosted individually. However, as a rule, a host entrepreneur cannot host two or more aspiring entrepreneurs simultaneously. An exception can be made if the hosting company has two founding partners and both sign up individually as host entrepreneurs with respect to the programme requirements. Also, a company can host more than one aspiring entrepreneur if there are other board members available for mentorhip and able to produce different commitments.
What financial support is available?
Financial support to aspiring entrepreneurs covers subsistence costs during the stay. The sum might vary depending on the host country as you can find here in the Annex on grant agreements. Intermediary Organizations are responsible for funds disbursement and financial support for new entrepreneurs.