Erasmus for Young Entrepreneurs (EYE) is a unique EU-funded exchange program offering new entrepreneurs a chance to spend time in another EU country to work alongside an experienced entrepreneur. The program allows professionals to learn essential skills for managing small to medium-sized enterprises and to gain insights into operating in diverse markets. Whether you’re looking to refine your approach, gain new skills, or network with seasoned professionals, Erasmus for Young Entrepreneurs opens doors to valuable experiences and connections.
Why Erasmus for Young Entrepreneurs?
Imagine having access to talent and innovation from across Europe. Through Erasmus for Young Entrepreneurs, you not only gain practical knowledge but also contribute to building a more integrated European business landscape. This exchange is not a traditional job, but rather a learning experience backed by financial support to cover living and travel expenses. It’s a stepping stone for entrepreneurs looking to refine their business concepts and apply best practices learned from experienced mentors.
About the Program
Erasmus for Young Entrepreneurs provides new entrepreneurs (NEs) with the opportunity to collaborate with Host Entrepreneurs (HEs) in any of the EU Member States, the UK, and several other partner countries. Over 27 EU countries and additional COSME nations participate, including North Macedonia, Turkey, Ukraine, and beyond. Whether you’re interested in expanding your skill set or simply eager to gain global experience, this program allows you to grow and learn in a supportive international environment. (Source: erasmus-plus.ec.europa.eu)
Participants will receive financial support to contribute to their living and travel expenses while participating in the programme. The amount granted varies from country to country. The programme can last between 1 and 6 months. However, it is possible to split the stay into several parts, as long as it is completed within 12 months of the start of the programme.
Who Can Participate?
The program caters to two main profiles:
New Entrepreneurs (NEs): Aspiring entrepreneurs or those in the early stages of their business journey can apply. Applicants must present a viable business plan, demonstrate a solid educational or vocational background, and possess qualities such as initiative and commitment.
- Required Documents:
- Curriculum vitae (CV)
- Motivation letter
- Business plan
- Required Documents:
Host Entrepreneurs (HEs): Experienced entrepreneurs with a successful track record (ideally 3+ years) who wish to mentor a new entrepreneur are encouraged to participate. HEs should be willing to share insights and guide NEs in building their business acumen.
- Conditions:
- Permanent residency in an EU or participating COSME country
- Updated CV with relevant business experience
- Motivation for participating in the program
- Conditions:
How It Works: The Four Phases of Erasmus for Young Entrepreneurs
The EYE program is structured to ensure a seamless and productive exchange between NEs and HEs. The phases are:
Application Phase
Interested entrepreneurs (both NEs and HEs) submit an online application and select an Intermediary Organisation (IO) to assess their eligibility.Matching Phase
Accepted candidates can access an online catalogue, allowing them to explore profiles and match with a potential mentor or mentee.Contracting and Preparation Phase
Once a match is confirmed, an activity plan is created. This document outlines objectives, a business/learning plan, tasks, and responsibilities. A financial agreement is also signed to formalize support for the NE.Implementation Phase
The NE and HE embark on the exchange, reporting on milestones and objectives, while their IO monitors progress and evaluates the results.
What New Entrepreneurs Can Expect to Learn
During the exchange, NEs participate in various activities to build critical skills and gain hands-on experience. Common tasks include:
- Shadowing and collaborating with the HE
- Conducting market research and exploring new business opportunities
- Engaging in project development, innovation, and R&D
- Learning SME finance basics
- Developing branding, sales, and marketing strategies
How Zoran Mitrović Consulting Can Help
At Zoran Mitrović Consulting, we help individuals and organizations.
Whether you’re a new entrepreneur looking to gain experience or an established business interested in hosting, Zoran Mitrović Consulting is here to help you navigate the Erasmus for Young Entrepreneurs program. We can guide you in crafting your application, connecting with the right match, and ensuring your exchange experience is tailored to your goals.
Writing and submission
Management and Coordination
Partnership building
Communucation
Ready to Start Your Entrepreneurial Journey?
Whether it’s assistance with application processes, finding suitable interns, or creating a strategic plan for your exchange, we’re here to help. Reach out today and let’s discuss how we can make the most of this opportunity for you!
