Erasmus for Young Entrepreneurs celebrates its 15,000 exchanges strengthening the European business ecosystem

The Erasmus for Young Entrepreneurs (EYE) program has reached its 15,000 exchanges, a key milestone that marks the consolidation of the initiative as a bridge between entrepreneurs who start their entrepreneurial journey and experienced businesses that share their knowledge and experience. In Spain, the programme is supported, inter alia, by the Instituto Tecnológico de Canarias, which acts as an intermediary office for dealing with exchanges and relations with ‘hosts’.

Since its launch in 2009, the programme has supported more than 30,000 entrepreneurs in more than 40 countries, boosting transnational collaboration, accelerating business creation and strengthening the competitiveness of SMEs, which play a key role in Europe by representing 99 countries. % the business fabric and be strategic pillars for innovation, employment and economic growth.

Tangible results for businesses and entrepreneurs

Exchanges allow entrepreneurs to gain skills and competences, while expanding their networks and accessing new international markets. The result is a stay that generates benefits for both the new entrepreneur and the host, translating all this into the following:

• Management experience. An 88 % of the people who make a stay ensures that they manage to better understand the operation of business.
• Contacts. An 83 % creates new business contacts.
• Expansion. A 64 % manages to expand into international markets.
• Innovation and creativity. A 72 % Hosts ensure that experience allows them to introduce new ideas and knowledge into their businesses. In fact, a large majority indicate that they have perceived significant changes in their business after the stay.

Towards a competitive and cohesive European market

By integrating new ideas and knowledge into the business ecosystem, Erasmus for Young Entrepreneurs facilitates a transition to more digital and green business models that fit ever-changing economic models. The initiative also fosters international cooperation, contributing to the objective of consolidating a more cohesive and integrated European market in the Single Market Programme.

After reaching its 15,000 exchanges, the program continues to grow to consolidate itself as the European platform to promote international entrepreneurship and provide new entrepreneurs with a set of tools and opportunities with which to shape their business projects.

From the islands, the Technological Institute of the Canary Islands offers support to entrepreneurs and regional ‘hosts’ and the rest of the country to boost their growth. All information on destinations can be found here.

Original information from Erasmus for Young Entrepreneurs Support Office c/o Eurochambers.