Erasmus for Young Entrepreneurs is for you!
Erasmus for Young Entrepreneurs is a programme initiated by the EU which seeks to give an opportunity to new or aspiring entrepreneurs, to learn from experienced entrepreneurs running small and medium sized businesses in other EU member states. In this way, Erasmus for Young Entrepreneurs aims at facilitating exchanges of experience between entrepreneurs established in EU member states.
This programme can be applied for by both; the new entrepreneur and the host entrepreneur. The new entrepreneurs will benefit from on-the-job training in a small or medium sized enterprise. The latter will be of great assistance to new business owners since from this experience insightful experience on how to run a successful business can be gained. Furthermore, this opportunity might also lead to other benefits such as access to new markets and possibilities for collaboration with other business partners. This experience is also beneficial for the host entrepreneur, thanks to this opportunity the host entrepreneur can benefit from new and innovative ideas from a motivated new entrepreneur. In fact in a Statistics Report (September 2012) issued by the European Commission 94% of the respondents answered that their relationship with the new entrepreneurs was successful.
The duration of the stay abroad can be from 1 to 6 months. However, this project also provides the possibility to divide the stay into slots of a minimum of 1 week spread over a maximum of 12 months. The process of applying for Erasmus for Young Entrepreneurs is divided into four phases; the Application Phase: whereby interested new entrepreneurs and host entrepreneurs can apply through an on-line registration tool, the Matching Phase, the Contracting and Preparation Phase and finally the Implementation Phase. The financial support provided for the new entrepreneurs will contribute towards travel costs to and from the country of the stay and subsistence costs during the visit.
Success Story - New Entrepreneur
Name:
Lucian Avadani
“It was an incredible opportunity which I totally recommend to new entrepreneurs that have just started or intend to start a business. Erasmus for Young Entrepreneurs provides an opportunity to learn at an early stage the art of entrepreneurship and how to avoid risks. In future, I hope that I will, in turn, become host entrepreneur and return the favour to another new entrepreneur in the European Union.”
Status:
New Entrepreneur
Country:
United Kingdom
Success Story- Host Entrepreneur
Name:
Ella Alcasas
“Without the programme it was impossible to imagine to be able to open a new branch in another country simply because it was too complicated for us, we would have needed to study a whole new market there.
Each new person coming into your company or interacting with your company gives it more energy and more perspective. You can learn a lot from that so I highly recommend it!”
Status:
Host Entrepreneur
Country:
Luxembourg
Company Name:
Onformonics
The Erasmus for Young Entrepreneurs programme also aims at informing participants about the opportunities offered by the Single Market such as lower transaction costs for businesses, larger market size, improved competitiveness, more choice and innovation, transitions costs etc. This promotion also aims at guiding businesses on how to overcome market and business obstacles.
The local contact point for the Erasmus for Young Entrepreneurs is Malta Enterprise, for more information on this programme kindly contact the Project Manager, Mr Pedro Alvarez on [email protected]. As a local contact point, Malta Enterprise will guide interested entrepreneurs throughout the exchange programme: helping with the application process, helping with finding and establishing a successful relationship with a suitable entrepreneur, as well as answering any questions.
SMEs, voluntary organisations and local councils interested in obtaining information on EU funding opportunities are encouraged to contact MEUSAC on [email protected] or on 2200 3300.