Friday 21 April 2023 1Freitag, 21. April 2023 1

AER European Citizens´Forum 18th of April 2011

match and connect

Project for young entrepreneurs

Kompass – Center for EntrepreneursSusanna SelvaduraiFrankfurt MainGermany

Kompass – Centre for Entrepreneurs

Since 2000 KOMPASS is dedicated to provide counselling and

training to promote start-ups and young entrepreneurs.

Kompass’s work is based on a socioeconomic consultation and qualification approach. Along with financial and market economics aspects, this approach considers not only personal aspects such as motivation, social background, specifics of the business sector and mentalities, but also expertise and entrepreneurial core skills

Kompass has provided entrepreneurship services to over 17.000

clients to date.

According to the last survey, (conducted in 2010), over 4.000 entrepreneurs have successfully started new businesses

Durch Beteiligung an überregionalen Aktivitäten und europäischen Modellprojekten hat sich die KOMPASS GmbH eine über die Grenzen des Rhein-Main-Gebiets herausragende Reputation erworben.

Friday 21 April 2023 3

4 + 1-Phase-Model

Orientation& Information

Planning& Qualifications

Start-up& Implement

Success& Growth

Pre-Start-up

P H A S E

Post-Start-up

P H A S E

get information

Approach& Admission

use knowledge

meet the team

Information

1-2-1 with a business

advisor

assessment of business

competencies

Research

get qualifications

Business & revenue

registrationOngoing coaching

Strategy planning

Start up:

- budgeting & finance concepts- business plan development • register your business

• register for VAT & Revenue-calculate chances & risks

-- workshop to create business ideas

Ongoing coaching

Kompass – Centre for Entrepreneurs

Since 2000 Kompass activities have contributed to a 15% growth

in regional entrepreneurship (vs. 8% nationally), placing Frankfurt in the top tier of entrepreneurial cities in Germany.

Kompass provides a platform for orientation and direction for entrepreneurs

we link our partners and sponsors, to create a place where our clients have access to workshops, training and counselling and easy access to our partner institutions.

Kompass provides transnational services: concept development and implementation of projects, training

and educational measures to promote entrepreneurship.

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JUMPPWomen

enterprises

Chambersof Crafts

&Commerce

FrankfurtEconomicDevelop.

GmbH

KompassTown

ofFrankfurt

Job Center

Uni-versities

FIZ RKWConCapMicro-finance

Banks of garanties

PlanningAssociation

Hessen

SWAKHRT

AER

Employers&

TradeAssociation

Govern-ment

Ministeryof Hessen

Dep. forCreativeEconomy

match and connectunemployed youths starts their own businesses

Initial position:

Unemployment rates among young people remain constantly on a high level

In 2008 5.000 unemployed youths in Frankfurt were looking for future perspectives and job opportunities .

Many initiatives are aimed at providing job opportunities, but littlehas been done to promote young entrepreneurs.

match and connectunemployed youths starts their own businesses

Objective:

The objective of our programme match and connect had been to encourage and promote entrepreneurship among youths.

match and connectunemployed youths starts their own businesses

Project partner:

Federal employment office

Special department of the ministry of labour to promote students and university graduates

successful senior entrepreneurs

match and connectinstruments

Instruments:

0. Information for advisers of the labour offices 1. Information for unemployed youth´s selected by the labour

office 2. Profiling 3. Computer based entrepreneurship games 4. Workshops and Seminars in Planning and Qualification 5. Practical training in companies 6. Mentoring programme 7. Market test phase 8. Get together

match and connectinnovative approach for young entrepreneurs

Innovative approach – a combination of:

mentoring; the mentor = entrepreneur shares his knowledge and experience in matters of operational technical issues within the professional fields

individual counselling and coaching training and qualification practical training in SMEs to get practical experience in the

areas of business strategy, marketing, sales, communication and efficient processes. Additional to the practical training students get a good understanding of the challenges of entrepreneurship

get together – young professionals meet members of the business community and other institutions

match and connectunemployed youths starts their own businesses

Duration of the project: 12 month

► 12 interested youths during the duration of the project Results:

6 of the initial participants had immigration backgrounds 4 start-ups were completed during the project period

3 of the young entrepreneurs had immigration backgrounds

match and connectobstacles

Obstacles:

not all consultants of the labour office could be convinced that self employment is a good alternative to permanent positions

some of the participants were not aware of the requirements on

competencies of being an entrepreneur time constraints of the labour office banks are very hesitating to provide loans to young entrepreneurs for some of the participants we could not find a company for

practical training in the same industry

match and connectrecommendations

Recommendations for future programmes:

different programmes for different target groups (university graduates, craftsmen, schools, etc.)

training in soft skills as well as in economical skills

combination of mentoring methods as a main successfactor: every student should be hand matched with an experienced business mentor

guidance by the mentor should continue after the launch a combination of practical training and “get together’s” as

important success factors

match and connectrecommendations

combination of guaranteed funds: to give banks an incentive to

provide loans to young entrepreneurs

possibilities for international exchange should be provided

young people need to be encouraged to develop ideas on being self employed - therefore programmes should start on a previous level (e.g. seminars about market trends, workshops to create a business idea, get together with senior entrepreneurs)

match and connectrecommendations

Thank you for your kind attention!