New Entrepreneurs

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Can I participate as a start-up entrepreneur?

You can participate in the programme as a new entrepreneur if:

  • You are firmly planning to start a business, based on a viable business plan;
  • You have started your own business within the last 3 years.

Your (future) company or activity can be in any sector and there is no age limit.

However, you must also:

  • Be a permanent resident in one of the Participating Countries;
  • Have a concrete project or business idea, reflected in a business plan;
  • Be motivated and committed to collaborate during your stay with an experienced entrepreneur from another Participating Country; be prepared to contribute to the development of the host entrepreneur’s business and make your skills and competences available;
  • Be ready to complement the programme funds as needed to cover the costs of your stay abroad.

Download the New Entrepreneur Flyer: new-entrepreneur-flyer

 

Benefits

Active participation in the Erasmus for Young Entrepreneurs programme offers aspiring entrepreneurs access to a wide range of benefits to help successfully run or start a new business:

Up to six months stay with an experienced entrepreneur in another Participating Country to gain first-hand knowledge about business start-up in a wide range of areas such as: marketing/sales, financial accounting, customer relations, business finance etc. You will also have the opportunity to improve your business plan;

  • Building self-confidence and skills: sector-specific knowledge or know-how, technical and management skills;
  • Opportunities for collaboration with other entrepreneurs and the development of cross-border business co-operation;
  • Networking and building of strong relationships, which can be useful for mutual consulting, business referrals, and for finding business partners abroad;
  • Insights into different cultural and organisational settings and how companies function in another Participating Country;
  • Insights into the business environment of another Participating Country
  • Improved language skills;

Thanks to the Erasmus for Young Entrepreneurs programme, participants achieve long-term benefits, which are illustrated in the Erasmus success stories

Activities & Responsibilities

As a new entrepreneur in the Erasmus for Young Entrepreneurs programme, you will have the following tasks and responsibilities:

  • Draft and sign a “Commitment to Quality” which ensures the smooth working relationship between you and your host entrepreneur. Among others, it sets out the objectives of the stay and a proposed plan of activities during the stay;
  • Sign an agreement with your local contact point for the payment of the grant for your stay, specifying the tasks, responsibilities, financial conditions and legal implications of the project within the agreed timetable;
  • Submit a feedback questionnaire after your stay abroad, describing the work performed, the skills and knowledge you acquired and the benefits of the exchange on the development of your own business;
  • Contribute to a successful and productive stay.

Together with your host entrepreneur, you will decide which activities you will carry out during your stay. They can include:

  • Shadow and work with your experienced host entrepreneur;
  • Conduct market research and develop new business opportunities;
  • Participate in projects of entrepreneurship development, innovation and research & development;
  • Improve or sharpen your business plan;
  • Understand business finance;
  • Discover the branding, sales and marketing strategies of the host entrepreneur’s company.

Have a look at the exchange success stories to get an overview of the wide range of activities undertaken by new entrepreneurs during their stay abroad

Financial Support

Grant for your stay abroad

The financial support to new entrepreneurs contributes to travel and subsistence costs during the visit. The grant is paid by the local contact point chosen by the new entrepreneur (registered in the online application). The new entrepreneur and his/her local contact point sign an agreement which determines the funding granted during his/her stay, and how it will be paid in practice (e.g. partial payment at the beginning of the stay, monthly payment, etc). The financial support is calculated monthly and reflects the overall living costs of the country of stay.

Download the table of monthly financial assistance paid per country of stay