Malta Enterprise has been re-appointed as an intermediary organisation for the Erasmus for Young Entrepreneurs programme which enables aspiring entrepreneurs, whether they wish to create a new venture or expand an existing one to international markets, to gain valuable skills and experience.
Erasmus for Young Entrepreneurs provides practical and financial assistance to new entrepreneurs, who get to spend time with experienced host entrepreneurs in another EU country and learn first-hand how to manage a small or medium-sized business (SMEs).
Existing enterprises may also particpate in the programme as hosts.
The programme's specific objectives are to promote on-the-job-training, exchanges of experience and information between partners, and to enhance market access, identification of potential partners and networking. In this manner, new businesses may be created whereas existing ones may become more robust, competitive and sustainable.
Concrete benefits for Malta’s start-uppers:
- Building of the entrepreneurial skills and knowledge necessary to run a successful business (e.g. marketing/sales, financial management, business plan elaboration), thereby increasing the sustainability/resilience of new businesses
- Financial grants to help offset the costs of the stay abroad
- Access to new markets, especially in other EU Member States
- Cross-border cooperation between new entrepreneurs and their hosts as a result of the programme
- Acquiring know-how and strengthening of technical skills
- Networking and building of strong relationships
- Increased self-confidence of the new entrepreneur