Duration

13 Minutes

Guest

  • Miriam Tuomey

    International Executive

  • Maria Deady

    International Project Manager

Host

  • Alec Drew

    Host of The SME Business Show

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Episode Summary

The Erasmus for Young Entrepreneurs program is designed to facilitate knowledge exchange through a structured mentorship setup. A host entrepreneur, with over three years of business experience, partners with a new entrepreneur who has been in business for less than three years. This collaboration allows both parties to share unique skill sets and learn from each other, addressing gaps in expertise and expanding their business acumen.

In this episode, Alec Drew explores the value and logistics of the Erasmus for Young Entrepreneurs programme with guests Maria Deady and Miriam Tuomey from Dublin Chamber of Commerce, who serve as programme intermediaries in Ireland.

Together they discuss practicalities such as programme duration, funding (stipend for new entrepreneurs), participation from EU and select global countries, and how to get involved through the EYE portal or directly via Dublin Chamber.

Maria and Miriam clarify that participation is open to anyone who meets the experience criteria, thereby encouraging a diverse range of entrepreneurs to engage in this enriching program. They outline how the matching process is simple and efficient, facilitated by an online portal that connects potential partners based on their skills and goals. The ease of application and minimal paperwork required make it an accessible opportunity for those looking to gain international experience and insights.

The discussion highlights the benefits for host entrepreneurs, who can gain assistance from new talent without additional costs, while also receiving fresh perspectives and insights into international markets. For new entrepreneurs, the experience is invaluable; they acquire skills that bolster their business and have the chance to improve their language capabilities while immersing themselves in a different culture.

Alec also addresses practical concerns, such as accommodation challenges that might arise when new entrepreneurs move to cities like Dublin. Maria explains the support systems in place, including welcome packs and continuous assistance from the Chamber to ensure a smooth transition into the host country's business landscape.

Wrapping up, Alec focuses on the overarching goal of the Erasmus for Young Entrepreneurs program: to cultivate a thriving ecosystem of mentorship and collaboration across borders, promote creative exchanges, and ultimately strengthen business ties within the EU and beyond.

Maria and Miriam invite anyone interested to reach out directly or visit the Erasmus portal for more details, encouraging a new wave of entrepreneurs to take part in this win-win opportunity.

 

Key Insights:

  • The Programme Is a Mentorship Exchange, Not an Internship. Erasmus for Young Entrepreneurs is structured around a mentor-mentee relationship between a seasoned business owner and someone new to entrepreneurship. Unlike internships, hosts have no HR or payroll obligations, and the new entrepreneur is not considered an employee.
  • Funded by the EU, with No Costs to Participants. The programme is entirely free for both new and host entrepreneurs. New entrepreneurs receive a stipend from the EU to cover living expenses while abroad, and hosts are not expected to provide any financial compensation.
  • Mutual Knowledge Exchange. Both parties benefit from the collaboration. New entrepreneurs can offer up-to-date skills such as digital marketing or social media, while hosts provide business acumen and operational experience. This creates a meaningful exchange of complementary expertise.
  • Flexible Duration and Structure. The exchange can last from one to six months, and it doesn’t have to be continuous. Participants can break up the time or schedule it around existing commitments. This flexibility makes it accessible to people who are already running businesses or managing busy schedules.
  • Wide Eligibility Criteria. New entrepreneurs must have less than three years of entrepreneurial experience and can be at idea stage or already operating a business. Host entrepreneurs must have more than three years of experience and be in a leadership role, such as a founder or CEO.
  • Broad International Scope. The programme covers the EU27 countries as well as additional single market participants. Recently, countries like the UK, US, Canada, and Singapore have joined, with exchanges in those locations limited to three months due to local visa laws.
  • Practical Support from Intermediary Organisations. Local support is available from intermediary bodies like the Dublin Chamber, which helps applicants through the process, from application to match-making to settling into the host country. They also provide welcome packs and remain available throughout the exchange.
  • Simple Application and Paperwork. Applying is straightforward and begins with a short online form. Once a match is found, both participants complete a commitment document that outlines goals, activities, and expected outcomes. Most paperwork is digital and minimal.
  • Fast Turnaround from Match to Start. Once a suitable match is identified and the commitment document is completed, the exchange can begin in as little as six weeks. However, participants can choose to delay the start date to suit their schedules.
  • Potential for Long-Term Collaboration. The programme often sparks ongoing business relationships. Hosts and new entrepreneurs sometimes continue to collaborate long after the exchange ends, exploring new markets, projects, or partnerships together.

Today’s Guest(s):

Miriam Tuomey, International Executive

Miriam joined Dublin Chamber’s Membership Development team in 2019. Currently working in membership services, her focus is helping all members connect to the wide breadth of services available with Dublin Chamber membership. Such as profiling your business with the Chamber, networking with other Chamber members, Key events and engaging with businesses looking to Internationalise.

Miriam is part of the EEN (Enterprise Europe Network) and EYE (Erasmus for young Entrepreneurs) team in Dublin Chamber and will assist you with connecting to the network and demonstrate opportunities to internationalise your business.

Miriam has over twenty years experience in sales, marketing, and consumer insight roles in both the private and public sectors with organisations such as Bord Bia, Jacobs Fruitfield Food Group, and Eir.

Miriam has a BA in Marketing and studied in TUD, the University of South Wales and the Digital Marketing Institute.

Maria Deady, International Project Manager

Maria joined Dublin Chamber’s International Department in October 2018.

Her role involves working on a range of projects including the Enterprise Europe Network and Erasmus for Young Entrepreneurs to help businesses to maximise their success in overseas markets. Maria is a certified and licensed business mentor from Fundación para el Conocimiento madri+d.

Maria graduated from UCC in 2010 with a degree in Chinese Studies. Prior to joining Dublin Chamber Maria spent a number of years living and working in Shanghai, China.

[00:00]: Introduction.

[00:14] Alec: Hello and welcome to the SME Business Show with me, Alec Drew. Each show focuses on one particular topic, and so we invite an expert, or in this case, experts, to share their knowledge, insights and tips to help you with your business challenges. Today’s topic is all about an underused program called the EYE, and we’re delighted to welcome Maria Deedy and Miriam Toomey from Dublin Chamber of Commerce. Hi, Miriam. Hi, Maria. Miriam, what is the Erasmus for Young Entrepreneurs program?

[00:42] Miriam: It’s a business exchange program, exchanging business ideas from a host entrepreneur and a new entrepreneur. A host entrepreneur is a company that has been in business and they have expertise. A new entrepreneur is a new entrepreneur who has been in business less than three years and they’re looking to exchange their business ideas with another company.

[01:04] Alec: Would you like to tell us just a bit more about that, Maria? Yes.

[01:08] Maria: So it is an EU program called Erasmus for Young Entrepreneurs. It is aimed at host entrepreneurs who is someone who has more than three years entrepreneurial experience and what’s known as a new entrepreneur who is someone with less than three years entrepreneurial experience. The aim is for them to work together to collaborate through a mentorship program.

[01:28] Alec: So if we take the young entrepreneur and let’s say they have their own business, how does that work?

[01:33] Maria: The exchanges can be up to a time of six months. So obviously, if they are running their own business, it can be challenging. That said, there is always the opportunity for them to return to work on their own business throughout the exchange, or they can have a specific amount of time set out on a weekly basis that they would work on their own business. Of course, a lot of the new entrepreneurs, they understand the commitment to this exchange and they find it beneficial just to stay with the host throughout the learning period.

[02:03] Alec: So, Miriam, I suppose this is sort of barter of knowledge and collaboration.

[02:07] Miriam: Yes, it is. It is an exchange of knowledge between the new entrepreneur who might have a newer skill like social media or something like that. And if they go into a more traditional business, they can give their expertise to the older business and they can benefit from their general business strategy knowledge. So it’s completely an exchange of their different skill sets.

[02:29] Alec: And the programme doesn’t have to be a straight six months?

[02:32] Miriam: No, six months is the maximum of the programme within EU27 and the other countries, but it can be from one month to six months and they can take breaks within that. And say they have a six-month programme, but they finish the work within four months, they can end early.

[02:50] Alec: And Maria, is this like an intern?

[02:52] Maria: It’s not like an internship. We are very strict on the term internship. It is a mentor-mentee relationship as the host has no financial obligations to them. They cannot be deemed an intern or an employee.

[03:05] Alec: And that’s important. So they’re not seen as an employee. So there’s no obligations under the whole area of HR.

[03:11] Maria: No, they are funded through a separate EU fund. And therefore, they come at no cost to the host. but also that means there’s no obligation on the host regarding such as payroll or HR obligations.

[03:27] Alec: So you say it’s funded from the EU but Miriam tell me a bit more about the funding and how does that work?

[03:33] Miriam: It’s funded under the Erasmus for Young Entrepreneurs Programme. So the funding is, it’s not a payment, but they’re given a stipend to kind of go to another country. So the payment is given to the new entrepreneur and they are like, it helps them pay for their accommodation and things like that.

[03:51] Alec: And if it doesn’t cover everything, is there any obligation on the host company to support them in any way?

[03:56] Miriam: Absolutely not. We don’t encourage the host to pay them. It’s such a good opportunity for the new entrepreneur to get that valuable learning experience with the host entrepreneur that we’ve given them the stipend to help them do this, but there’s no obligation for the host to top that up at all.

[04:13] Alec: And in terms of who can participate, Maria, who is eligible for this?

[04:18] Maria: So anybody is eligible for it. So if you are a host entrepreneur, your main caveat is that you must have over three years business experience in running your own business. And it must be the CEO or founder who applies. If you are a new entrepreneur, you must have less than three years entrepreneurial experience. You can be an early startup, you can be absolute beginner stage, but you just have to have that initial want to be a business owner.

[04:48] Alec: Yes, and you must also have a skill set that’s of value to the host company.

[04:53] Maria: Yes, exactly. So it might be what your skill set might be regarding digital businesses, but you’re not entirely sure how accounting in a business works. So you will bring your digital skills to your host company and in return, your host might teach you in regards to accounting skills or whatever that you deem necessary.

[05:10] Alec: I know I keep focusing on costs here. How much does this cost anybody? buddy?

[05:15] Miriam: It doesn’t cost anything for the host entrepreneur or the new entrepreneur. They’re giving that set stipend, but there is no other cost involved.

[05:24] Alec: That sounds like a very good deal.

[05:25] Miriam: It is a very good deal, and we do encourage people to do it as much as possible.

[05:30] Alec: And Maria, what are the benefits for the host entrepreneur?

[05:32] Maria: The benefit for the host entrepreneur is they can get an additional set of hands into their business with a very specific skill set that they might be looking for. This skill set, an extra set of hands comes at no financial cost or obligation to them. All they need to share is their business acumen and business. skills and expertise. They also get insights into a different country and that they can just, just there’s lots of benefits.

[05:57] Alec: And they can learn all about these international markets and how it’s relevant to them.

[06:02] Maria: Exactly. So if you are looking to expand into a certain EU country, say France, you can get a French entrepreneur to come to you and you will gain those, just those valuable insights into that market that you’re looking at already.

[06:12] Alec: And I suppose get to understand how that marketplace works and what the structures of companies are, etc.

[06:18] Maria: Exactly. And also, it could be something very similar is if you are moving to that area and you want to change your website to now include French language, you have a native French speaker to go through your website to ensure that it does meet that localisation standards.

[06:32] Alec: And what about the benefits for the new entrepreneur?

[06:35] Maria: Well, the benefits for the new entrepreneur is that they can get to stay abroad for up to six months. They can improve their own language skills, but they can also gain specific expertise to help their own business to grow into the future with the direct knowledge from someone potentially in the same area but it doesn’t necessarily have to be but it can just allow them to grow.

[06:54] Alec: I suppose just continuing on this accommodation in Ireland has proved a real challenge how are you able to help out there if at all?

[07:03] Maria: Yes you are not wrong with that so what new entrepreneurs when they are coming to Ireland they are fully aware of what’s going on what’s going on in the housing market. They are made aware of it by ourselves in Dublin Chamber as an intermediary organisation. We also, as an intermediary organisation, we help provide them with what’s known as a welcome pack for when they arrive into Ireland, which can have some pointers on settling into life. It can be where, you know, where to find accommodation, you know, rates and things. And once again, we are always on hand throughout the entire exchange, not just throughout the entire process and duration of the exchange.

[07:37] Maria: So if they need any additional, we are on site.

[07:39] Alec: And Miriam, how do I go about joining this program?

[07:43] Miriam: Program is easy to join. There’s two options. You can contact either myself or Maria and we can talk you through, but you can also apply on the EYE portal, which is just an easy portal. You just sign up with your basic details. It’s not onerous at all.

[07:58] Alec: So it’s about sort of getting a profile of you and perhaps what you’re looking for.

[08:02] Miriam: Now, we’d be happy to take them through. I think it’s better if they come through us, but they can also sign up directly onto the portal.

[08:08] Alec: And is there much paperwork involved in all of this?

[08:11] Miriam: No, there isn’t. It is a short form to begin with. The paperwork comes after you’ve matched and you’re building your commitment with the host and the new entrepreneur.

[08:19] Alec: So there’s quite a lot of matches available out there.

[08:22] Miriam: There are a number of matches available, but also if you’re not able to find them, myself and Maria will be able to look through the database and try and find one that suits your needs.

[08:31] Alec: And hence the need to fill this paperwork in so you get it right first time.

[08:35] Miriam: Exactly.

[08:36] Alec: And Maria, then what happens next?

[08:37] Maria: So once you’re on the portal, you will have access to that database. I think currently if you’re a host, there’s something in around 5,000 new entrepreneurs out there. So once you’re on the database, you can filter by country, you can filter by language, you can filter by specific skill set. Once you’ve found that match, then what you do is you can propose a match.

[08:57] Alec: All right, so I found a match. What happens next?

[09:00] Maria: So next is between you and the new entrepreneur, you will start a dialogue. And you’ll just chat to make sure that you’re both aligned with each other. If you find that you do, you will receive what’s called a commitment document. This commitment document will just be filled out by both you and the new entrepreneur. And in it, you will state your motivations, what you plan to do during the exchange, the duration of the exchange and any expected outcomes you might wish to have. And then once that’s done, we upload it onto the portal and we will go through an approval process.

[09:27] Alec: So we’re looking at sort of motivations from both sides and are we really a fit for each other?

[09:33] Maria: Exactly. So the aim of it is to get the most benefit for both of the participants. So it’s not just the host and it’s not just a benefit to any. It has to be of benefit to both parties.

[09:43] Alec: As I’ve asked about money, I’ll ask about paperwork. How onerous is the paperwork again around all of this? Because it often puts off people applying for these sort of programmes.

[09:52] Miriam: It’s all done online on a portal. So there’s no actual physical paperwork. The big document, and I feel the most important document so they get the benefit, is the commitment proposal. It’s not too long. It gives you the motivations, as you said, but it also maps out your four-month or your six-month journey of what you’re going to do within each of those timeframes. So you’re getting the most of your time. It’s a big chunk of time for a new entrepreneur and a host entrepreneur to give up. So you want to make sure they maximise it.

[10:22] Alec: So, we’re talking about managing people’s expectations from the beginning.

[10:25] Miriam: Exactly.

[10:26] Alec: So, okay, we’ve now gone through this, along from, finding the match that we get up and running.

[10:33] Maria: So if both you and the new entrepreneur are, you know, excited and interested in this, and you’re working together collaboratively to develop this work plan, the exchange can begin in as quickly as six weeks from when you first match to when the new entrepreneur is on site. However, of course, you know, life happens and sometimes it can take a bit longer or, you know, you can be like, I’m actually at full capacity now, however, from September. Remember, it doesn’t have to be, once you’re on it, you can also set a future date for when the exchange takes place.

[11:04] Alec: So after the exchange has taken place and the programme is completed, what happens then?

[11:08] Maria: So there is a compulsory feedback form for both the host and the new entrepreneur. And then once this is completed, that exchange is then deemed entirely completed. If you are a host and you are interested in this programme, you can then go back and re-host another new entrepreneur.

[11:25] Alec: All right. And is there a deadline for this, Miriam?

[11:28] Miriam: No, it’s a rolling application form. You just go onto the portal at any time of the year and fill in your basic details.

[11:37] Alec: And how many countries are involved in this whole programme, Miriam?

[11:40] Maria: So it’s all of the EU27 plus the additional EU states as part of the single market programme. And then as of February of this year, the UK, US, Canada and Singapore are now a part of the programme. However, for those four countries, the exchange is limited to three months specifically, but that’s due to their own internal visa laws. It’s nothing got to do with the programme.

[12:03] Alec: So I suppose just to wrap it up from your side there, can you give me a brief summary of what the whole programme is about?

[12:09] Maria: Yeah, so it is an international business exchange which fosters mentorship and creativity across different EU countries. The aim of it is to help hosts to share their skill set with new entrepreneurs while promoting single market and promoting business exchange and mentorship.

[12:30] Alec: And the paperwork’s not owners, and it doesn’t cost anybody any money.

[12:33] Maria: Exactly. I mean, it’s a fantastic opportunity, and you can potentially build new business partnerships throughout different countries.

12:40] Alec: A win-win.

[12:41] Maria: A win-win.

[12:42] Alec: So, Miriam, finally, where can we find out more?

[12:44] Miriam: You can go on to the Erasmus for Young Entrepreneurs website, but you can also contact myself or Maria. And I’m miriam at dublinchamber.ie. Maria is maria at dublinchamber.ie. And we would really like to talk to people about this program.

[12:58] Alec: A special thanks to our guests today, Maria Didi and Miriam Toomey from Dublin Chamber of Commerce for sharing so many valuable insights about the Erasmus for Young Entrepreneurs program. If anything we discussed resonated with you, why not reach out to us across any of the social media platforms, SME Business Show. Thank you for your company and we look forward to seeing you again soon.

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