When one says Erasmus, our mind immediately goes to those awesome juvenile days spent abroad, when we made friends from all around the globe, learnt how to cook tortillas or goulash, practiced a few foreign languages and met the incredible wonders of Europe.
With a light sense of nostalgia for what one has left home, this is possible the very moment in which most of us understand we are the same, that moment in which weather you are Spanish, Italian, French, German, Polish, Belgian is not relevant at all.
What’s Erasmus For Young Entrepreneurs
Even though the students exchange under the Erasmus programme does not need any introduction, few know about the existence of another key European action dedicated to mobility and exchange, yet this time for Young Entrepreneurs.
With more than 11.000 exchanges activated over the last decade, the Erasmus for Young Entrepreneurs programme, promoted by the European Commission to facilitate exchanges of experience, learning and networking for new entrepreneurs has become a key action in fostering a more skilled, open and fair Europe.
Launched in 2009 as a pilot project and then absorbed as a Framework Programme by the European Competitiveness of Enterprises and Small and Medium-sized Enterprises (COSME now EISMEA) for the 2014-2020 seven-year period, the Erasmus for Young Entrepreneurs is a cross-border mobility programme created to support the development of the skills needed to run a small or medium-sized enterprise in Europe.
The exchange is implemented via the stay of a newly established or potential entrepreneur with a well-experienced entrepreneur running a small or medium-sized enterprise (SME) for a period ranging from 1 to 6 months.
The benefits are mutual, from one perspective it helps new entrepreneurs to acquire the skills needed to run a small firm, on the other the host benefits from fresh perspectives on their business and gets the opportunities to cooperate with foreign partners or learn about new markets.
EYE in Europe and beyond
Since its kick off, the programme has received over 20,000 applications and reached 11,000 exchanges in 45 countries among those participating in the COSME programme. Italy and Greece continue to be the most represented countries with 18.02% and 17.54% respectively of the total applications received. Among the destinations, in addition to the 27 member states of the European Union, there is the possibility of the exchange in some non-European countries that have joined the initiative. These include Canada, South Korea, Israel, the USA, Singapore and the United Kingdom.
News about EYE programme in 2023
As a new cycle of the program started only one month ago (February the 1st 2023), few important adjustments seem to have been made.
For the first time the European Commission set specific KPIs to favor the participation and the exchange with industries from the digital and energy sector, aligning the program to the priorities of this current working period (2021-2027).
Our leading role
Materahub, who has been one of the programme coordinators since its launch, for the next 4 years will lead a consortium of 10 partners managing a budget of almost 2 millions euros for the exchanges.
Among which around 30% will be dedicated to support the exchange between young entrepreneurs and enterprises operating in the Cultural and Creative sectors.
Applications are open and running
If you have a business idea, if you want to test it and learn from experienced businessmen and businesswomen, this is your chance.
To gather more information about the grants and apply follow the instructions on our website erasmusforentrepreneurs.eu.
