The term "new entrepreneur” includes both nascent entrepreneurs, who are firmly planning to start their own company in the coming months, or those who have already set up their own business in the last three years. Whether planned or already existing, the business can be in any sector. New entrepreneurs must demonstrate a sound educational and vocational background and a viable business idea. They must be a permanent resident in one of programme participating countries and should be able and willing to raise additional funds to cover the costs of the stay that exceed the EU’s grant.
Host entrepreneurs are experienced businessmen or women (i.e. more than three years of activity), ideally owners of a micro or small enterprise (SME) in the European Union or persons directly involved in entrepreneurship at SME board level, abiding by the EU definition of micro, small or medium-sized enterprise. They must be willing to cooperate with the new entrepreneur towards developing his/her entrepreneurial skills and know-how.