Erasmus for Young Entrepreneurs

Expected Outcome

The expected results are:

a) Circa 7,000 individual entrepreneurs matched;

b) Circa 10,000 entrepreneurs registered;

c) Circa 100 Intermediary Organisations involved in the implementation of the programme;

d) Circa 35 countries covered;

e) Rate of successful exchanges above 90% (entrepreneurs’ feedback).

Scope

Erasmus for Young Entrepreneurs is a mobility scheme that allows potential or newly established entrepreneurs to spend a period of time collaborating with an experienced entrepreneur in another participating country. These mobility actions aim to help the entrepreneurs enrich their business knowledge and experiences as well as learn and network with entrepreneurs in other programme participating countries. This measure will expand and strengthen the existing network of Intermediary Organisations (IOs) which act as local contact points in participating countries.

The IOs are in charge of recruiting and matching the entrepreneurs and facilitating the mobility actions. They also promote the programme and its benefits at local and national level and collect feedback from participants. This action also aims at offering opportunities to entrepreneurs from SMP participating countries to foster an exchange of business knowledge and expertise in new destinations beyond SMP countries.

The specific objectives are:

a) Enhancing entrepreneurship and supporting creation of start-ups.

b) Helping new entrepreneurs acquire and build managerial skills and further develop their business plan/activity by learning from experienced entrepreneurs.

c) Learning on the job by the new entrepreneurs by working with the host entrepreneur on concrete business projects.

d) Supporting the host entrepreneur in researching, developing and testing or piloting new business concepts, products or services by the new entrepreneurs bringing in fresh ideas from another environment (in national, academic, market etc. terms).

e) Raising entrepreneurs awareness for the benefits from going international and, in particular, from exploiting the potential of the European market.

f) Intensifying the networking and business relationship between entrepreneurs from different participating countries, especially laying the ground for further internationalisation of SMEs' businesses and for further spreading of innovative methods or products.

g) Promote the participation of entrepreneurs from the EU outermost regions referred to in article 349 TFEU and from their neighbouring third countries.