Problem addressed

In both Slovakia and Hungary, young people under the age of 25 are around three times more likely to be unemployed (11.4% in Hungary and 16.1% in Slovakia) than the rest of the adult population (3.4% in Hungary and 5.8% in Slovakia). This is due to a mix of structural barriers (e.g. skill mismatches) and cyclical factors (economic upturns and downturns). Stimulating youth entrepreneurship is one approach to addressing this challenge. However, entrepreneurship education is not widely taught at schools. Opportunities to experiment with entrepreneurial ideas and meet and learn from entrepreneurs are rare in formal education in Slovakia and Hungary. This gives young people little chance to develop their entrepreneurial competences and acquire valuable skills for the labour market.

Innovative solution

The Emerging Young Entrepreneurs (EYES) programme provided training and business opportunities to young entrepreneurs under the age of 25 from both Slovakia and Hungary. The programme, which ran from September 2017 to April 2019, was the only programme in the region to focus specifically on upskilling young potential entrepreneurs through educational events, training and networking opportunities across two countries. The programme also aimed to increase labour mobility and cooperation between public institutions, communities and companies on either side of the border.

The programme ran start-up competitions to propel promising new entrepreneurs into the business space, as well as networking events for emerging entrepreneurs and national and cross-border events for sharing experiences. The programme combined theoretical learning with hands-on support. One of the activities, for example, was a pitching masterclass that involved 70 participants who were taught to pitch a business concept by an experienced business expert. The expert subsequently selected 5–6 of the most promising pitches for a ‘deep dive’ mentorship, providing hands-on support and one-to-one guidance. The final selected start-ups were then put forward to pitch at an international conference, which acted not only as a promotional opportunity, but was also a chance to learn from highly experienced entrepreneurs operating in other international markets.

A centralised digital learning platform was established as part of the programme, where emerging entrepreneurs can freely access various guidance and training materials. The platform also includes thematic articles covering topics essential to business skill development such as international marketing and brand building, communication strategies, financial management and specific training tools on successful blogging and delivering pitches.

The programme was implemented by the Budapest Enterprise Agency (BEA) in partnership with the Slovak University of Technology in Bratislava and Hungarian Export Promotion Agency (HEPA), the former Hungarian National Trading House.

Key results and benefits

The EYES programme provided educational and networking opportunities to over 300 start-ups in the region and delivered many key learning events. Over 18 months, it reached a vast audience of 10 000 people – 10 times more people than planned – in the form of views, likes, shares and comments on its social media activities and online articles.

The events run by the programme were deemed successful. The Budapest Start-up Night, in November 2018, was attended by more than 600 people. The event was accompanied by business-to-business networking, an exhibition and an award ceremony, and had high-level political attendance from the Hungarian Minister of Finance and Deputy Prime Minister and the Deputy Mayor of Budapest. The event also gained media interest from Forbes magazine.

The EYES had a positive impact on young people, as reported in testimonies from event participants, calling EYES workshops ‘the best educational experience for our company… [having] gained useful skills for communication, leadership and marketing’. The programme also helped employers gain access to talented, skilled young entrepreneurs for specific business opportunities.

Potential for mainstreaming

The EYES was supported by the European Regional Development Fund (ERDF) under the Interreg Slovak-Hungarian Cooperation Programme. ERDF support, totalling EUR 198 205, was essential in allowing the BEA to deliver a collaborative project in both Hungary and Slovakia. The BEA manages an increasing number of international projects and is keen to expand opportunities within the broader ERDF Slovakia-Hungary Cooperation Programme.

The programme has potential to be transferred to other contexts given that it is already bridging two national contexts and working in a transnational dimension. The online platform, which can still be accessed by young people interested in developing their start-up expertise, also supports the project’s sustainability. The BEA will continue to seek opportunities and EU support to allow for further cross-border work on small to medium-sized enterprises and emerging young entrepreneurs in Hungary and other EU countries.