Updated last 26.03.2021
What is the program about?
The Erasmus for Young Entrepreneurs Program funded by the EC is a crossborder exchange program providing to new or prospective entrepreneurs opportunities to learn from experienced entrepreneurs running small enterprises located in other states in the scope of the program.
What is the main goal of the program?
Exchange of experience takes place during a stay with an experienced entrepreneur (host entrepreneur) who helps the young entrepreneur obtain skills required to run a small business. The benefits for the host entrepreneur are in terms of new prospects for development of his/her business and for building partnerships with counterparts abroad or networking. Regardless whether you are a new or an experienced entrepreneur, the Programme may offer enormous added value for your business: the possible benefits include knowledge and experience exchange, contacts and cooperation at the territory of all of Europe, establishment of new trade relations or finding international markets.
Who is eligible to apply under the program?
To be eligible, new entrepreneurs have to meet one of the following requirements:
- To be determined to start their own business based on a viable business plan; or
- To have started own business in the past three years.
The future (or the already registered) company or business can be from any sector of the economy. There are no age restrictions for the applicants.
Other requirements:
- To have a permanent residence in one of the participating in the programme states;
- To have a particular project or business idea, elaborated in the business plan;
- To be highly motivated and committed to the execution of cooperation during your stay with an experienced entrepreneur in another participating in the programme state;
- To be ready to contribute to the development of the business of the host entrepreneur and to provide your own skills and knowledge;
- To be ready to co-finance the funds under the programme for covering your expenses during your stay abroad.
As a host entrepreneur you are eligible to participate in the programme, if:
- You have a permanent residence in one of the participating in the programme states;
- You are an owner / manager of a small or medium-size enterprise, OR you are a person, who participates directly in the entrepreneurship business at level small and medium-size enterprises;
- You have managed a company for at least several years;
- You are ready to share your knowledge and experience with a new entrepreneur and to be her/his mentor within this process.
What are the deadlines for application in calls for proposals under the program?
You can apply at any time.
How can you apply under the program?
Each new entrepreneur must prepare the following documents: CV, motivation letter, and business plan. The next step is to register via an online form. New entrepreneurs who are willing to participate in the exchange program for entrepreneurs should apply through the website of the European Commission, selecting the intermediary organization in charge they prefer. The intermediary organization in charge must be operating in the home country of the entrepreneur as it will function as management and local contact point throughout the process. Subsequent steps are described in detail on the website of the program.
Changes in relation to Covid-19
In view of the restrictions, imposed by theCovid-19 pandemics, the Programme “Erasmus for Young Entrepreneurs” adapts temporarily its rules. A distance exchange is possible for a period from 1 to 3 months. The entrepreneurs participating in the distance exchange are not entitled to financial aid. If after three months the travels are not restricted, the physical exchange could be implemented for a maximum of 6 months and the new entrepreneur is entitled to financial aid. The duration of the exchange (distance + physical) should be effectuated within a period of 12 consecutive months. These exceptional rules will be applicable until 31 December 2021 (this deadline is only tentative and it can be changed during the next months depending on the situation).
Brexit-related changes
The withdrawal agreement provides for the United Kingdom and the persons or legal entities and companies, established in the United Kingdom, to continue their participation in the Programme until 31 January 2023.
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