Erasmus for Young Entrepreneurs is a cross-border exchange program which gives new or aspiring entrepreneurs the chance to learn from experienced entrepreneurs running small businesses in other Participating Countries.

The exchange of experience takes place during a stay with the experienced entrepreneur, which helps the new entrepreneur acquire the skills needed to run a small firm. The host benefits from fresh perspectives on his/her business and gets the opportunities to cooperate with foreign partners or learn about new markets.

Benefits of Erasmus Young Entrepreneurs Exchange Program

Erasmus for Young Entrepreneurs Exchange program benefits both the New as well as the Host Entrepreneurs. 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 or strengthen your new enterprise. You can also benefit from access to new markets, international cooperation and potential possibilities for collaboration with business partners abroad.

The new entrepreneur and his/her local contact point sign an agreement which determines the funding granted during his/her stay, and how it will be paid in practice.  The financial support is calculated monthly and is based on the monthly lump sum for the relevant country.

As a host entrepreneur, you can benefit from fresh ideas from a motivated new entrepreneur in your business. The new entrepreneurs may have specialized 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 decide to host other new entrepreneurs afterward.

It is really a win-win collaboration whereby both of the new and the host entrepreneurs can also discover new European markets or business partners, different ways of doing business.

On the longer-term, you will benefit from wide networking opportunities, and, possibly, decide to continue your collaboration, possibly as long-term business partners (e.g. joint ventures, sub-contracting activities, contractor-supplier relationships, etc).

Eligibility for the Erasmus Young Entrepreneurs Exchange Program

New Entrepreneurs can participate in the Erasmus Exchange program if they are:

• Firmly planning to start a business, based on a viable business plan; Or have less than 3 years of total entrepreneurial experience.
• A permanent resident in one of the Participating Countries;
• Have a concrete project or business idea, reflected in a business plan;
• Motivated and committed to collaborating during your stay with an experienced entrepreneur from another Participating Country; Likewise, they should be ready to contribute to the development of the host entrepreneur’s business;
• Be ready to complement the program funds as needed to cover the costs of your stay abroad.

Entrepreneurs can have their (future) company or activity in any sector and there is no age limit. However, all participants must be over 18 years old.

Host Experienced Entrepreneurs can participate in the Erasmus Exchange Program if they are:

• A permanent resident in one of the Participating Countries and your company is registered in that country;
• The owner-manager of a small or medium enterprise OR a person directly involved in entrepreneurship at SME board level (not an employee);
• Have been running a company as an entrepreneur (not an employee) for more than 3 years;
• Willing to share your knowledge and experience with a new entrepreneur and act as a mentor.

How to apply for the Erasmus Young Entrepreneurs Exchange Program

1. Prepare your application documents: CV, motivation and, additionally, for the new entrepreneurs, a business plan;
2. Register via the online form (link) and submit your CV and business plan (for new entrepreneurs only);
3. Once accepted, build a relationship with a new or host entrepreneur abroad
4. Reach an agreement with your new or host entrepreneur about the work and learning project
5. A Commitment to Quality should be digitally signed in the IT Tool by all partners involved in the relationship. As a new entrepreneur, you should equally conclude the financial agreement with your local contact point;
6. The duration of the exchange may be from 1 to 6 months with the possibility of dividing the stay into weekly slots;
7. The financial assistance to the new entrepreneur will be provided in several payments, according to the agreement signed with his/her local contact point.

Deadline

Young Entrepreneurs can apply for the Erasmus Exchange Program until 31 December 2019. Applications arriving after the deadline are not eligible for the exchange program.