Fabian Demicoli

Erasmus for Young Entrepreneurs


Do you have a brilliant business idea? Are you a newly established entrepreneur? Would you be interested in expanding your company with fresh
ideas?

 

Then you
need look no further than the Erasmus for Your Entrepreneurs programme
(www.erasmus-entrepreneurs.eu), a mobility initiative co-financed by the
European Union.

This
programme organized by Malta Enterprise offers new entrepreneurs the
possibility to work for up to six months with an experienced entrepreneur in
another EU country. These exchanges take the form of ‘mentorships' whereby both
the new as well as the host entrepreneur benefit in various ways. Through the
collaboration with experienced entrepreneurs the individuals will benefit from
achieving new and relevant skills about will help them set up their own
business. On the other hand, the experienced host participant would benefit
from fresh perspectives on their own business whilst also getting the
opportunity to cooperate with foreign partners or learn about new markets.

The
entrepreneurs may also decide to extend the collaboration with new
entrepreneurs after the end of the exchange period. In this manner, the
programme stimulates entrepreneurship, competitiveness, internationalization
and growth of start-ups and established SMEs in the EU. It also contributes to
the transfer of know-how and building of management skills essential for the
running of an SME.

 

Who can
participate?

New
entrepreneurs eligible to participate in the programme are those who firmly
plan to start a business or otherwise have an existing business that is not
older than three years, irrespective of their personal age or the sector in
which they operate.

A host
entrepreneur can participate in the programme if he or she is the owner or
manager of an SME or directly involved in entrepreneurship at SME board level;
has experience running a company for several years; and is willing to act as a
mentor by sharing knowledge and experience with a new entrepreneur from a
different European state.

Malta
Enterprise can guide interested entrepreneurs helping them with the application
process, finding and establishing a successful relationship with a suitable
entrepreneur, as well as answering any questions. Malta Enterprise will also
provide financial support to whom participating in the programme, (partly)
covering travel costs to and from the country of the stay and subsistence costs
during the visit, which may last between one and six months.

 

In a few
words, what are the benefits of participating in this programme?

Benefits
for new or aspiring entrepreneurs:

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
    European Union 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 European Union country;
  • Insights into the business environment of another European Union
    country
  • Improved language skills.

         

 

Benefits for host entrepreneurs:

As a host
entrepreneur participating in the programme, you will benefit from the exchange
by having the opportunity to:

  • Work
    with an energetic and motivated new entrepreneur who can contribute to your
    business with innovative views, new skills and knowledge;
  • Benefit
    from a "fresh eye" on your business, and specialised knowledge that
    the new entrepreneur may have and that you do not master;
  • Act
    as a coach or mentor;
  • Learn
    about foreign markets, expand your business opportunities and engage in
    cross-border activities;
  • Interact
    with entrepreneurs from other EU countries and get opportunities to collaborate
    with them;
  • Network
    and build strong relationships, which can be useful for mutual consulting,
    business referrals, and for finding business partners abroad;
  • Improve
    your language skills.

 

 

 

The large
majority of host entrepreneurs enjoyed the experience so much that they decided
to host other new entrepreneurs afterwards!

The programme
information guide can be downloaded from here:

 For more information contact Malta
Enterprise on or on tel: 2542 0000 or visit
the official Erasmus for Young Entrepreneurs programme website: www.erasmus-entrepreneurs.eu.
http://www.erasmus-entrepreneurs.eu/upload/ERASMUS-GUIDE_EN.pdf 

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