For over ten years the British-Portuguese Chamber of Commerce have been an authorised administrator (Intermediary Organisation = IO) for the EU-funded project known as Erasmus for Young Entrepreneurs (EYE) which promotes mobility and entrepreneurship throughout the continent by matching aspiring entrepreneurs (NEs) from one European Single Market Programme (SMP) country with experienced business owners (HEs) in another European country.
Prior to Brexit the UK was a very active partner in EYE, but as a consequence of leaving the European Union, British entrepreneurs (both HEs and NEs) were excluded from further participation. However, a new funding cycle has recently been launched which allows NEs from European SMP countries to go to the four non-SMP destinations of UK, USA, Canada and Singapore.
The Chamber in Portugal’s participation in EYE has proven to be very beneficial to the Chamber, and also for their Members – and so now they would like to share this opportunity with you.
Advantages for companies:
• To qualify as an HE the individual must have been an owner/founder/co-founder of their own company for a minimum of three years and have a willingness to share their learning experience with an enthusiastic nascent entrepreneur keen to develop their own business plan in preparation for them embarking on their own entrepreneurial career.
• The NE will receive a monthly stipend from the IO in their own country, as a contribution towards their expenses, so there will be no associated costs for the receiving HE.
• Once the NE returns to their own country, the HE will have a point of contact very familiar with their products or service, and who might then represent their interests in a new territory/potential market. Frequently NEs engage in a partnership or joint venture with their generous hosts for whom they are grateful.
• HEs often appreciate the hosting experience as a training exercise for themselves which helps their personal development as a leader and mentor.
• NEs are often recent graduates qualified in the latest technologies, yet lacking in real-life opportunities to apply their skills. Hosts can benefit from these up-to-date skillsets to modernize and improve their own work practices.
• Many Hosts regard their mentoring as being in line with their CSR commitments and aligns with their will to giving back to the community or the concept of or “Pay It Forward”.
• As exchanges to non-SMP countries are for a minimum of one month and a maximum of three months, there is no need for any visa beyond the 90-day stay. NEs are responsible for organising their own flights, accommodation, visas and insurance.
