Erasmus for Young Entrepreneurs is a European mobility scheme initiated by the

European Union The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been des ...

in 2009, which gives new or aspiring entrepreneurs an opportunity to get a first-hand, practical coaching from experienced entrepreneurs running

small and medium-sized businesses Small and medium-sized enterprises (SMEs) or small and medium-sized businesses (SMBs) are businesses whose personnel and revenue numbers fall below certain limits. The abbreviation "SME" is used by international organizations such as the World Bank ...

(SMEs) in one of the 27 EU Members States. Erasmus for Young Entrepreneurs is financed by the

European Commission The European Commission (EC) is the executive of the European Union (EU). It operates as a cabinet government, with 27 members of the Commission (informally known as "Commissioners") headed by a President. It includes an administrative body o ...

and operates with the help of intermediary organisations competent in business support, coordinated by a Support Office (currently run by EUROCHAMBRES). By February 2017, more than 4,500 exchanges have been established and over 15,000 applications have been received.

History

In 2007, the

European Parliament The European Parliament (EP) is one of the legislative bodies of the European Union and one of its seven institutions. Together with the Council of the European Union (known as the Council and informally as the Council of Ministers), it adopts ...

introduced a new budget line entitled "Erasmus for Young Entrepreneurs”. The European Commission then started to design the Pilot Project with the aim of supporting mobility periods abroad for recently established and nascent entrepreneurs, with a view to improving their skills and fostering the cross-border transfer of knowledge and experience between entrepreneurs. Erasmus for Young Entrepreneurs comes under the Small Business Act for Europe which considers this initiative a key contribution “to create an environment within which entrepreneurs and family businesses can thrive and entrepreneurship is rewarded”. It currently falls under Programme for the Competitiveness of enterprises and SME's (COSME) 2014–2020.

References

External links

*{{official website, http://www.erasmus-entrepreneurs.eu/ Entrepreneurship organizations European Commission