Erasmus for Young Entrepreneurs is a European mobility scheme initiated by the European Union in 2009, which gives new or aspiring entrepreneurs an opportunity to get a first-hand, practical coaching from experienced entrepreneurs running small and medium-sized businesses (SMEs) in one of the 28 EU Members States or in other countries part of the COSME programme. The programme helps new and host entrepreneurs to develop relevant skills for managing and expanding their own business. By February 2017, more than 4,500 exchanges have been established and over 15,000 applications have been received