Young Entrepreneurs Offered Opportunity to Gain Valuable Experience across EU

23 February 2010

The EU funded programme ‘Erasmus for Young Entrepreneurs’ has today launched across Europe for the second year after a year of successful partnerships were established.

The programme aspires to link up talented new entrepreneurs with more experienced entrepreneurs from another EU country in order to help both parties grow and develop their businesses.  The programme is still in its pilot phase but aims to increase growth and productivity in the SME sector across the EU.

Laura Bayford, Managing Director at Westminster based consultancy Verdant Consulting hosted new entrepreneur Rosamaria Reig from Spain to work with her for two months in October. Through working with Rosamaria she is exploring opportunities to develop new business across Spain and the two business women are looking for other ways to work with each other in the future.  Laura said:

“Erasmus for Young Entrepreneurs is a great programme that is not promoted enough. Business people across the UK should be more aware of the benefits it can bring.”

There are seven intermediary organisations managing the programme across the UK.  Knowledge Dock at The University of East London is managing the programme in the London area. Eleanor Precious, Student Enterprise Manager said:

“We set up 11 mobilities last year but have funding to work with another 20 organisations. I would like to invite more new entrepreneurs who are just starting businesses to apply. They can be placed with an entrepreneur with a similar business background in another country, and their living costs will be subsidised by the EU.”

Richard Brownsdon, a new entrepreneur in the process of setting up an online retail business was placed by Knowledge Dock with an online business in Madrid. He said:

“I had a business plan in place before I set off to Madrid. However I learnt so much from my host that I now have a much clearer idea of my aims and goals for my business. I feel ready to get the business up and running.”

In the UK alone, approximately 40 mobilities are currently underway or have been completed with total numbers to date across Europe at the 400 mark.

-Ends-

Notes to Editors

Knowledge Dock
Knowledge Dock is the University of East London’s (UEL) enterprise development service and European accredited Business Innovation Centre (BIC). Knowledge Dock is the only BIC in London, one of 12 in the UK and part of a European Business Network (EBN) which consists of 160 organisations across 21 European countries.

Knowledge Dock actively connects students to business opportunities, enables entrepreneurs to make the right connections to start their business, SMEs to the specific expertise to grow their business, and connects industry to the academic knowledge at the University of East London (UEL).

The Knowledge Dock Business Centre, located at the University of East London Docklands campus, houses a range of business support, enterprise development and conferencing facilities.

University of East London
The University of East London (UEL) is a global learning community with over 23,000 students from over 120 countries world-wide. Our vision is to achieve recognition, both nationally and internationally, as a successful and inclusive regional university proud of its diversity, committed to new modes of learning which focus on students and enhance their employability, and renowned for our contribution to social, cultural and economic development, especially through our research and scholarship. We have a strong track-record in widening participation and working with industry.

Verdant Consulting www.verdantconsulting.co.uk

Verdant helps organisations improve their results through:

• Understanding their customers, employers and stakeholders
• Being clear about their objectives
• Developing creative ways of delivering measurable results