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ME entrusted with Erasmus for Young Entrepreneurs programme

 

Malta Enterprise in collaboration with Stiftelsen Europa Institutet in Sweden will be working to facilitate exchanges for entrepreneurs between Malta and Sweden within the framework of the Erasmus for Young Entrepreneurs programme.

Partly funded by the European Commission, which gave its green light to the collaboration between the organisations in Malta and Sweden, the Erasmus for Young Entrepreneurs exchange programme offers new entrepreneurs the possibility to work for up to six months with an experienced entrepreneur in another EU country.

The exchange programme is particularly beneficial for those individuals who are thinking of starting or have just set up their own business, who are given the opportunity to acquire relevant skills whilst working with experienced owners of small and medium enterprises across Europe.

On their part, the experienced entrepreneurs participating in the programme and hosting the budding entrepreneurs 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 programme acknowledges the fact that many founders of SMEs lack management, experience and other key skills required to succeed in today's highly competitive markets, as well as the fact that the vast majority of SMEs operate only in one country with limited possibilities for growth.

Recognizing the importance of entrepreneurship for economic growth and job creation, it thus seeks to help new entrepreneurs acquire the relevant skills, whilst both new and experienced entrepreneurs would be expanding their European outreach.

Erasmus for Young Entrepreneurs is a win-win collaboration, whereby both new and experienced entrepreneurs can discover new European markets or business partners, different ways of doing business, as well as opportunities for networking. The entrepreneurs may also decide to pursue their collaboration on a longer term by becoming business partners after the end of the exchange period.

In this manner, the programme stimulates entrepreneurship, competitiveness, internationalisation 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.

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.

As a local contact point in Malta, Malta Enterprise will guide interested entrepreneurs throughout the exchange programme: helping with the application process, helping with finding and establishing a successful relationship with a suitable entrepreneur, as well as answering any questions.

Malta Enterprise will also provide financial support to new entrepreneurs participating in the programme, 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.

More information may be viewed on www.erasmus-entrepreneurs.eu  or by contacting Malta Enterprise on 2542 0000 or [email protected].