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Erasmus for Young Entrepreneurs is a European mobility scheme initiated by the European Union in 2009,[1] which gives new or aspiring entrepreneurs an opportunity to get a first-hand, practical coaching from experienced entrepreneurs running small and medium-sized businesses (SMEs) in one of the 27 EU Members States.
Erasmus for Young Entrepreneurs is financed by the European Commission and operates with the help of intermediary organisations[2] competent in business support, coordinated by a Support Office[3] (currently run by EUROCHAMBRES).
By February 2017, more than 4,500 exchanges[4] have been established and over 15,000 applications[5] have been received.
In 2007, the European Parliament 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.[6] 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.[7][8]
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