Westerwelle Scholarship for Entrepreneurs in Germany

Written by Michael Nz. on July 19, 2022

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Scholarship details

  • Area of study

    All
  • Country of the Scholarship

    Germany
  • Scholarship Valid Until (Year)

    2023
  • Type of scholarship

    Bachelor's scholarship
  • Scholarship amount given

    $7000 - $9000
  • Type of scholarship administrator

    University
  • Mode of scholarship (Online/Offline)

    Offline
  • Applier's country

    All
  • Expenses covered

    All
  • Scholarship Contact Details

    office@westerwelle-foundation.com

What is Entrepreneurship?

With the term entrepreneurship we identify the effect of undertaking, a verb that refers to carrying out a work or a business. There is no commonly accepted definition of entrepreneurship.

Some authors consider it an activity related to the creative destruction of Schumpeter, others have emphasized the discovery of opportunities and others have focused on the creation of new companies.

Entrepreneurship involves turning a new idea into a successful innovation using skills, vision, creativity, persistence, and exposure to risk.

In short, an enterprise is any new activity that a person does, which may or may not have the purpose of achieving economic gains. Entrepreneurship is carried out by entrepreneurs.

Concept and Definition of Entrepreneurship

According to Wikipedia, the word entrepreneurship comes from the French entrepreneur (pioneer), and refers to the ability of a person to make an additional effort to achieve a goal or objective, also being used to refer to the person who started a new company or project, a term that was later applied to entrepreneurs who were innovative or added value to an existing product or process, which today has led to the concept of current entrepreneurship.

Types of Entrepreneurship

Entrepreneurship is the process of designing, launching, and managing a new business, usually starting as a small business or start-up, offering a product, service, or process for sale.

Here are some of the types of entrepreneurship:

business entrepreneurship

Entrepreneurship is the initiative or aptitude of an individual to develop a business project, or another idea that generates income that allows him to mainly cover his basic expenses, and that of his family.

Business entrepreneurship, as was said before, has arisen due to the country’s economic crises, which leads the individual to develop innovative ideas in the market that allows him to grow in difficult times.

However, entrepreneurship has its advantages, first of all, that of generating income, jobs. Then, it allows the individual to be his own boss, and therefore manage his own time and make his own decisions.

cultural entrepreneurship

Cultural entrepreneurship can be seen as the generator of cultural companies or organizations with the aim of not losing the meaning, nor the symbolic value of the products and customs belonging to a country.

social entrepreneurship

Social entrepreneurship seeks to meet the needs of the society in which it operates. As such, social entrepreneurship is a person or organization that tackles problems in the community, be it social, economic, and cultural.

In reference to this point, a distinction arises between business entrepreneurship since the latter seeks profit for the entrepreneur, while social entrepreneurship seeks solutions that improve society without any economic gain.

Westerwelle Young Entrepreneurs Program. This international project that will take place in Berlin, Germany, is an opportunity for people involved in entrepreneurship, there you will have the opportunity to learn about business development and promotion and about new business methods in emerging markets.

The Westerwelle Scholarship from Germany is for a duration of six (6) months which includes participation in a conference where you will have the opportunity to showcase your skills as an entrepreneur. While you are participating in this entrepreneurship training you will share experiences with your fellow youth and former Westerwelle.

One of the main benefits of this award is the full funding it offers its members. This project has the support of important companies such as Google, Oracle, Evonik, and Gi2, among others.

Scholarship for young entrepreneurs

Institutions where you will study:

Westerwelle Young Entrepreneurs Program, Germany.

Levels and study areas:

Business training.

Who can participate?:

Participants from emerging economy countries.

Scholarship endowment:

Westerwelle will provide the following prizes to its participants:

  • Fully Funded Five (5) Day High-Level Conference.
  • Six (6) month remote training program.
  • Contact with investors and world-renowned companies.

Conditions that must be met by participants:

  • Being a young entrepreneur from a country with an emerging economy.
  • Having created a for-profit company in the last five (5) years, it must be related to developing markets.
  • Have a good command of the English language, spoken and written.
  • Be available to participate in conferences and events during the six (6) months of the international scholarship for entrepreneurs in Germany.
  • Submit an online registration application via the official Westerwelle website.

Instructions to apply:

  • Submit a professional resume.
  • Financial information of your company.
  • Personal details.
  • Among others.

If you need more information about this scholarship for young entrepreneurs, check the official website of Westerwelle and check every detail to consider. If you need help, you can request it through the same online portal.

Deadline:

Until August 9, 2022.

Official Page Link:

Admission

Official notice: Westerwelle


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