Erasmus for Young EntrepreneursFebruary 01, 2019 - January 31, 2022
Erasmus for Young Entrepreneurs
"Erasmus for Young Entrepreneurs" is an European exchange programme aiming 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 European country travel and stay to host entrepreneur 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 9th cycle. Bulgarian ICT Cluster is IO responsible for Bulgaria from the beginning of the Programme and could support numerous exchanges of experience under the YEIM Project.
If you have a business idea or if you have already started your own business, Erasmus for Young Entrepreneurs offers you the possibility to spend up to six months abroad to learn how to bring your business to the next level.
ICT Cluster is an intermediate organisation form Bulgaria under the programme at the moment has €100 000 to support young entrepreneurs, with no experience to contributes to travel and subsistence costs during the visit and gain the skills and knowledge to develop their own successful business.
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 aviable 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.
There are no age limit and no topic restrictions, any industry or sector can take part.
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?
Just 6 easy steps:
- Prepare your CV
- Prepare your business plan /up to 10 pages business plan template/
- Register in www.erasmus-entrepreneurs.eu
- Chose ICT Cluster as your Intermediate Organization
- Connect with an entrepreneur in another country and negotiate details for the exchange (dates, objectives, etc.)
- Start the exchange
For more information and help please contact ICT Cluster.
Success stories of Bulgarian new entrepreneurs:
Yordan Pashov - Success Story [movie]