How has the Erasmus for Young Entrepreneurs programme evolved since its inception, and what are the key milestones achieved so far?
Since its launch in 2009, the Erasmus for Young Entrepreneurs (EYE) programme has experienced impressive growth and continuous development, evolving from a modest initiative into a mature and impactful EU-level programme. Initially conceived to address the reluctance among Europeans to start businesses and to support the creation of SMEs—the pilar of the European economy—EYE has grown in both scale and scope.
One of the most significant indicators of this evolution is the increase in participation. The programme began with just 50 participants annually, but by 2023, it had achieved a record-breaking 5,000 applications in a single year, amounting to well over 13,000 business exchanges in total and engaging approximately 26,000 entrepreneurs. This reflects not only heightened awareness but also growing trust in the programme’s ability to deliver tangible results.
Key milestones include the diversification of exchange destinations, which now span more than 40 countries, including contacts beyond Europe in North America and Asia. This geographical expansion signals a strategic shift towards fostering global entrepreneurial collaboration. The focus of exchanges has also shifted increasingly towards green and digital sectors, aligning with the EU’s policy priorities for sustainability and innovation.
The programme has supported many high-impact success stories, including entrepreneurs who went on to be featured in Forbes' “30 under 30” and others who developed innovative technologies, such as lightweight drones for emergency organ transport. The introduction of the EYE Innovator Awards has also helped to highlight standout contributions and create aspirational role models within the network.
Despite setbacks such as the COVID-19 pandemic—which disrupted physical exchanges—EYE has proven resilient and adaptable. The programme's continued refinement, focus on quality, and ambition to create synergies with other EU entrepreneurship programmes, such as Enterprise Europe Network and EU cluster initiatives, indicate a dynamic and forward-looking strategy.
Having celebrated its 15th anniversary last year, EYE is not only a mature initiative but a strategic platform helping European entrepreneurs gain critical early-stage experience, build international networks, and strengthen the continent’s economic fabric through exchange of skills, innovation and collaboration.
Why is this programme so important at EU level?
The Erasmus for Young Entrepreneurs (EYE) programme holds strategic importance at the EU level as it directly supports the Union’s broader economic, social, and innovation agendas. In a continent where small and medium-sized enterprises (SMEs) form the of the economy—accounting for over 99% of all businesses in the EU—nurturing entrepreneurship is a cornerstone of sustainable growth, job creation, and global competitiveness.
EYE addresses one of the key challenges Europe faces: a relatively low rate of entrepreneurial activity compared to other regions. By lowering the threshold to business creation through practical, cross-border exchanges, the programme boosts confidence among would-be and early-stage entrepreneurs. It enables them to gain critical skills in business planning, management, problem-solving, and international collaboration—core competencies that are essential to navigate a complex and dynamic global economy.
At a time when the EU is striving to build a more resilient and inclusive economic ecosystem, EYE plays a pivotal role in fostering innovation and social mobility. The programme is especially vital in helping to reduce regional disparities by supporting participation from underrepresented areas, thus contributing to the EU’s cohesion goals. Its flexibility—no age limit, broad sectoral focus, and growing emphasis on digital and green industries—ensures it stays aligned with EU policy priorities such as the twin transitions and the European Green Deal.
Moreover, EYE creates tangible EU value through cross-border cooperation, enhancing the sense of European identity and solidarity. It fosters trust and understanding between business communities across the continent, paving the way for long-term partnerships, joint ventures, and internationalisation. The fact that 20% of host entrepreneurs report intentions to pursue business collaborations with their exchange counterparts highlights the strategic multiplier effect of the initiative.
The EU’s financial support also plays a critical role in ensuring accessibility, particularly for individuals who may not have the means to undertake international placements. This inclusivity underpins the programme’s social relevance and broadens its impact.
What are the main challenges faced by new entrepreneurs participating in the EYE programme, and how does the programme support them in overcoming these obstacles?
New entrepreneurs entering the Erasmus for Young Entrepreneurs (EYE) programme often face a range of challenges, particularly those linked to starting a business in a competitive and uncertain environment. These include limited practical experience, lack of access to international networks, difficulty navigating regulatory landscapes, and insufficient confidence in their entrepreneurial capabilities. For many, the challenge also lies in translating innovative ideas into viable, sustainable business models. This is particularly true for entrepreneurs who have strong technical or creative ideas but little formal training in business development or management.
The EYE programme addresses these issues head-on by offering new entrepreneurs a structured, immersive learning experience with a seasoned host entrepreneur in another country. Through this peer-to-peer exchange model, participants gain first-hand exposure to the real-world workings of a business, learning key skills such as market analysis, customer relations, supply chain management, and financial planning. By observing and contributing to day-to-day operations, they acquire critical insight that is difficult to obtain through formal education alone.
Another major challenge is building a professional network, especially across borders. Many early-stage entrepreneurs operate in isolation and lack the connections needed to expand, find partners, or access new markets. EYE facilitates international networking from the start, giving new entrepreneurs access not only to the host’s business but also to their ecosystem of suppliers, clients, and collaborators. This often results in enduring relationships, with 92% of participants maintaining contact after the exchange and 20% of host entrepreneurs considering joint ventures.
In addition, the programme provides an alumni platform where past participants can further collaborate and exchange information. Synergies with business-oriented EU networks like the Enterprise Europe Network also help new entrepreneurs tap into broader support structures for innovation and market access.
Furthermore, intermediary organisations—funded by the EU—guide both hosts and new entrepreneurs through the application, matching, and exchange process, helping to resolve logistical or administrative issues that could otherwise become roadblocks.
In essence, EYE transforms early entrepreneurial challenges into growth opportunities, equipping participants with the tools, knowledge, and confidence to turn ambition into sustainable enterprise.
How can Chambers of Commerce leverage their local business communities to enhance the outreach and effectiveness of the EYE programme? Can you elaborate on the role of intermediary organisations within the EYE programme and how they contribute to successful exchanges?
Chambers of Commerce are ideally positioned to amplify the Erasmus for Young Entrepreneurs (EYE) programme at the local and regional levels due to their deep-rooted connections with business communities and their established reputation as trusted intermediaries. By actively promoting EYE to their member companies, especially experienced entrepreneurs open to international cooperation, Chambers can help build a strong pool of potential host entrepreneurs, which is essential for successful exchanges.
Moreover, Chambers can identify and nurture aspiring entrepreneurs in their regions, directing them toward EYE as a valuable stepping-stone in their business journey. By embedding the programme within broader entrepreneurship initiatives—such as start-up incubators, training workshops, or mentoring schemes—they can position EYE as an integral part of local entrepreneurial ecosystems. Hosting informational events, spotlighting success stories, and sharing testimonials through newsletters or social media can also increase awareness and credibility.
In addition, Chambers can facilitate matchmaking by aligning sectoral interests between new entrepreneurs and host companies. Their insight into local industry strengths—be it manufacturing, tech, agriculture, or creative industries—can help target outreach and ensure exchanges are relevant and impactful. This tailored approach strengthens the likelihood of long-term collaboration between exchange partners, including joint ventures or cross-border business development.
Crucially, intermediary organisations—including Chambers of Commerce and other bodies such as business support centres or innovation hubs—are the operational backbone of the EYE programme. Selected and funded by the European Union, these organisations manage the end-to-end process: recruiting participants, supporting applications, ensuring quality matching, monitoring exchanges, and reporting outcomes. Their hands-on guidance ensures that both new and host entrepreneurs are well-prepared and supported throughout the experience.
They also act as problem-solvers, helping participants navigate administrative or cultural challenges during the exchange. Their role becomes even more critical when exchanges involve non-EU countries, where differences in legal systems, business practices, or expectations can be more pronounced.
By leveraging their credibility, outreach networks, and operational capacity, Chambers of Commerce and intermediary organisations not only enhance the visibility of EYE but also ensure that exchanges are meaningful, productive, and sustainable.
With the expansion of EYE to destinations beyond Europe, how do you envision the programme's impact on fostering international entrepreneurial collaborations?
By enabling cross-border exchanges with countries outside the European Union—including destinations in North America and Asia—EYE opens new pathways for international collaboration, innovation, and market access.
This expansion enhances the programme's strategic value on multiple levels. Firstly, it exposes European entrepreneurs to diverse business environments, regulatory systems, consumer behaviours, and innovation ecosystems. These insights are crucial for building globally competitive start-ups and for equipping entrepreneurs with the adaptability needed to succeed in international markets. It allows entrepreneurs to test their products or services abroad and refine their strategies based on global feedback.
Secondly, EYE fosters soft diplomacy and business cooperation between Europe and its international partners. These people-to-people exchanges help build long-lasting relationships, trust, and shared understanding, which are foundational to sustainable economic partnerships. At a time of geopolitical uncertainty and fragmented supply chains, such cooperation becomes even more valuable.
The reciprocal benefits for host entrepreneurs in partner countries are equally important. They gain access to fresh ideas, innovative European perspectives, and potential business opportunities within the EU Single Market. This mutual learning often leads to commercial partnerships, co-creation of products, or joint ventures—evidenced by the fact that a significant portion of participants remain in contact and collaborate after their exchange.
In the long term, the internationalisation facilitated by EYE can stimulate cross-border investment, trade, and innovation. By helping to seed globally minded, agile businesses, the programme contributes to the EU’s competitiveness and its ability to shape global standards and values in entrepreneurship.