Erasmus for Young Entrepreneurs pairs people starting their own businesses with established SMEs with the help of chambers of commerce. 700 people applied for the scheme, which provides up to €1,100 per month (EurActiv 20/2/09).
European Commission Vice-President Günter Verheugen, responsible for enterprise and industry, said he was glad to see the programme taking off. "Its objectives to help unlock business potential, reveal new opportunities and make better use of the internal market are more relevant than ever in the context of the current economic crisis," he said.
The first exchange began on Europe Day (9 May) and saw Maltese entrepreneur Jean Pierre Galea travel to Spain to spend six weeks working with web developer Jordi Bufi. Galea, a 25-year-old who has decided to set up his own ICT business, said the scheme offers an opportunity to learn new skills.
"Through this experience I will have the opportunity to learn more about managing a business and also how to deal with the daily challenges of a web development company. My aim is to return to Malta equipped with more knowledge and experience on how to run my business successfully," he said.
Host entrepreneur Bufi runs a small web development business in Barcelona, which began 10 years ago. He said the experience could prove mutually beneficial. "I would really have appreciated a similar initiative when I had begun as an entrepreneur. I think that Jean Pierre can learn many things from us and we will also learn a lot from him," he said.
A total of 870 entrepreneurs are expected to spend between one and six months in another EU member state over the next 18 months. To avail of the scheme, new entrepreneurs are expected to raise additional funds and demonstrate that they have a viable business plan.
If successful, the pilot programme could be expanded as part of the European Commission's efforts to encourage cross-border business. Companies across Europe continue to focus on their national market rather than exploiting commercial opportunities elsewhere in the European Union, with just 8% of SMEs exporting their goods and services within the EU.
