"Erasmus for Young Entrepreneurs" is an European exchange programme aimming to help new entrepreneurs to acquire relevant skills for managing a small or medium-sized enterprise (SME) by spending time working in another EU country with an experienced entrepreneur in his or her company.
The programme is financed by the European Commission and operates across the EU with the help of more than 100 local, regional or national intermediary organisations/IOs/ competent in business support. Their activities are coordinated at European level by EUROCHAMBRES, the Association of European Chambers of Commerce and Industry, which acts as Support Office.
The programme establishes business to business relationships. New entrepreneurs from one Еuroepan country travel and stay to host entreprenuer to another EU country and get daily entrepreneurial knowledge and experience with him/her in the period of 1 to 6 months.
The matching of the new entrepreneurs with the host entrepreneurs is carried out with the help of the intermediary organisations (IOs).
The pilot project started in the beginning of 2009 and now is in its third phase.
Bulgarian ICT Cluster is the only IO, responsible for Bulgaria from the begining of the Programme.
Who can participate?
New entrepreneurs (NE): New entrepreneurs are entrepreneurs who are firmly planning to set up their own business or have already started their own business within the last three years. The business can be in any sector. NEs must demonstrate a sound educational and vocational background and a viable business idea.
Host entrepreneurs (HE): Host entrepreneurs are experienced entrepreneurs who own or manage a micro, small or medium-sized enterprise more than 3 years.
Benefits for the new entrepreneur
• Learning from an experienced entrepreneur in another EU country and knowledge on start-up and business management form the host entrepreneur;
• Practical and financial assistance, such as match-making, issuing contracts, induction before going abroad, logistical and local support during the stay, and a European Commission grant to the travel and subsistence costs during the stay abroad;
• Development of international connections and knowledge about foreign markets;
• Benefit from possible co-venturing opportunities and the development of cross-border markets;
• Gain of insights into a different cultural and organisational setting/workplace.
• Understanding of the regulatory framework in another EU country.
Benefits for the host entrepreneur
• Work with a serious, committed and motivated new entrepreneur contributing to your business through new ideas and views;
• Access to new skills and innovative knowledge provided by the new entrepreneur;
• Gain of knowledge about foreign markets - including business contacts - and increased opportunities to internationalise your business;
• Improved growth potential of your company and opportunity to establish a new business partnership directly with the new entrepreneur from another country;
• Opportunity for interaction with host entrepreneurs from other EU countries and become part of a dynamic pan-European business network of successful entrepreneurs;
• Benefit from the assistance of professional intermediary organisations for the search of a potential business partner and the support of the relationship with the new entrepreneur.
How to participate?
The online registration form for HE and NE is available on the programme website: www.erasmus-entrepreneurs.eu
NE should prepare Europass CV format (http://europass.cedefop.europa.eu/europass/home/hornav/Downloads/EuropassCV/CVTemplate.csp) and business plan. You can download business plan template here >>> Business plan can be submitted in any language, however, you should take into consideration that English is favored as it is understood by almost all users of the online database (new entrepreneurs, host entrepreneurs and intermediary organizations) and consequently facilitates the matchmaking. The Executive summary of the business plan should be in English.
HE should prepare brief curriculum vitae. A summary CV specifying your entrepreneurial experience and information about your current business is sufficient. The CV should contain at least a description of the product/service offered, years in the active business as well as a description of the previous experience as entrepreneur.
For more information and help please contact ICT Cluster.
Success stories of Bulgarian new entrepreneurs:
Yordan Pashov - Success Story [movie]