The Erasmus for Young Entrepreneurs (EYE) programme is a remarkable initiative that has gained recognition throughout Europe. This programme is specifically tailored to assist emerging entrepreneurs in launching their businesses and acquiring valuable expertise. It facilitates the pairing of new entrepreneurs from one country with experienced entrepreneurs in another European country for an exchange lasting up to six months.
For Ukrainian entrepreneurs seeking to expand their knowledge, develop, and elevate their businesses, this presents an unparalleled opportunity.
The programme offers advantages to both new and host entrepreneurs, serving as a platform for collaboration, idea exchange, and mutual support in business development.
Of particular note is the absence of an age restriction to apply, as long as the applicant is over 18 and has either recently established a business or has been operating a small or medium-sized enterprise (SME) for a minimum of three years, they are eligible.
The European Commission has recently introduced a dedicated project to support new entrepreneurs from Ukraine, allocating a budget of €3 million to recruit up to 430 new Ukrainian entrepreneurs over the next two years and pair them with host entrepreneurs across Europe, signifying significant growth potential.
The financial support provided to new entrepreneurs partially covers living expenses during their visit and travel to and from the exchange, relieving them of financial concerns and enabling full immersion in the experience.
Furthermore, the duration of the exchange is flexible, spanning from one to six months or being divided into shorter periods within a maximum timeframe of 12 months.
The programme does not impose a deadline for registration, and interested parties are able to apply online at their convenience. The application process entails furnishing personal and business information, articulating motivations, and outlining the added value a participant can offer their host entrepreneur. Additionally, selecting an intermediary organisation, which serves as a local contact point and provides guidance throughout the programme, is also required.
The benefits for both new and host entrepreneurs are significant. The programme represents an exceptional chance to gain fresh insights, learn from others, and tap into new markets while nurturing business growth and expansion.
Since its inception in 2009, the scheme has received over 46,000 applications, with more than 23,000 entrepreneurs participating in close to 12,000 exchanges. Entrepreneurs from Ukraine have completed 180 business exchanges under the programme, with 8 ongoing in March 2024.
This programme presents a plethora of opportunities and has the potential to substantially alter the lives of emerging entrepreneurs. Seize the opportunity to grow, learn, and advance your business. Submit your application now and take the initial step towards a successful entrepreneurial journey.
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