Objectives of the Erasmus + Scholarship to tackle unemployment

Dec 4, 2020

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Objectives of the Erasmus + Scholarship to tackle unemployment

Erasmus + for young entrepreneurs was designed as the realization of a large cross-border program that comes to stimulate the exchange of business and management experience. The exchange takes place through the stay of a potential or newly established entrepreneur with an experienced entrepreneur who runs a small or medium-sized business (SME) in another country.

The European Commission started the program in 2009 with the aim of reaching 10,000 exchanges by the end of 2020. Erasmus for young entrepreneurs is carried out through local contact points, selected through annual calls for proposals.

Main benefits of the program

Erasmus for Young Entrepreneurs was created and has the ultimate goal of promoting European business culture among young people. The program that consolidates and reinforces entrepreneurial attitudes by stimulating skills, knowledge and experiences, increases the number of new companies. It also enhances the international exchange of ideas, knowledge and increases and consolidates cooperation between small companies at the same time that it helps small companies to renew and internationalize, in short, it constitutes a good contribution to the creation of jobs.

Benefits for participating entrepreneurs

- Creation of New Entrepreneurs

- Develop your ability to run a small business

- Acquire relevant skills and knowledge

- Get practical experience

- Make use of a new business attitude

- Get knowledge about another market and culture

- Win international cooperation opportunities

- Get new ideas and fresh perspectives

Who is eligible for the program?

 The new entrepreneurs:

- Potential entrepreneurs with a credible business plan or people who have already started their business in the last three years

Age limit:

- All ages can participate

No subject restrictions :

- Any industry or sector can participate

How to take part

New and experienced entrepreneurs who wish to participate in the entrepreneur exchange program can apply through the program's website and choose their preferred local point of contact in their respective countries of residence. Your application must include a CV, a motivation letter and, if you are a new entrepreneur, a business plan. Once accepted, you can search for an entrepreneur in the program's database. We recommend that you read the registration guide carefully so that you have all the required information at hand before starting the registration process.

The role of the Commission

The stay of new entrepreneurs is partially financed by the European Union. By the end of 2020, COSME funding will have supported a total of 10,000 new entrepreneurs.

EYE Global Project

Given the success of the program, the European Parliament proposed a pilot project in 2017 to test a geographical extension of the program to countries outside of Europe. EYE Global started in 2018 with Israel, Singapore, and the USA (New York State and Pennsylvania). So far more than 50 exchanges have been carried out and by the end of the pilot, March 2021, it should be about 120. The pilot project will be followed by a preparatory action of three years.

Erasmus crosses borders

The exchange of experiences takes place during a stay with the experienced entrepreneur, which helps the new entrepreneur to acquire the necessary skills to run a small business.

There is thus an extraordinary interaction between the host who benefits from new perspectives on his business and has the opportunity to cooperate with foreign partners or learn about new markets.


Create new business relationships

Whether you are a new entrepreneur or are accompanied by a lot of experience, the program can offer a great added value to your business : the potential benefits include the exchange of knowledge and experiences, opportunities to establish contacts in Europe, new business relationships or markets in abroad.

The stay is partially funded by the European Union. The "SMEs growing in Europe" SGE project is consistent with the political framework defined by the " Small Business Act for Europe " and represents a concrete measure that effectively contributes to strengthening the competitiveness and sustainability of companies within the participating countries in the Erasmus Program for Young Entrepreneurs. SGE fosters entrepreneurial skills and culture and provides expert support for SME creation, growth, internationalization and access to finance.

SGE project

The SGE project offers, within the contractual period of the program and beyond, good business exchange opportunities for new entrepreneurs to receive individual support and establish a very rich and sustainable business cooperation with an experienced entrepreneur in another participating country, following business activities day to day.

The entrepreneurs are accompanied after the exchange in follow-up activities, in order to ensure a strong impact on their businesses and create the bases for a lasting business relationship between the two entrepreneurs involved in the exchange.

The quality of the relationships is ensured throughout all the phases of the project, from the recruitment and evaluation of candidates to the matchmaking and weekly monitoring of the exchanges, which are based on a clear, strategic work program for both entrepreneurs.

Main goal

The main objective of the project is to facilitate New Entrepreneurs (NE) to plan and achieve successful cooperation with a Host Entrepreneur (ES) in another participating country. The SGE consortium, which spans 10 countries (Spain, Italy, Romania, Poland, Greece, Austria, Malta, Macedonia, Hungary and the Netherlands), is built on strong relationships with companies, with a network of more than 65,000 SMEs and in demonstrated ability to implement successful transnational business exchanges between innovative SMEs.

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