The European Commission Enterprise and Industry DG has raised the flag for the start of the 2010 European Enterprise Awards (EEA). These awards recognise and reward excellence in enterprise and entrepreneurship promotion especially at regional level. Key objectives are to showcase the best initiatives promoting enterprise and to raise awareness of the added value of entrepreneurship.

EEA aim to raise awareness of partnership between local administrations and businesses, and highlight the role of entrepreneurial success in developing Europe's economy. Participation is open to national, regional or local authorities, or public-private partnerships, from anywhere in the EU, Iceland, Norway or Turkey. There are two stages; entrants can only be considered for the European Awards once they have completed initial selection at national level. The national competitions was be launched in June; each country was free in how it organises selection at national level. A high profile jury will choose the final winners, to be announced at a ceremony in May 2010.

There are five categories for EEA 2010, slightly modified following the previous competition so that they are in line with the priorities of the Small Business Act:

1. Promoting the entrepreneurial spirit: recognises actions and initiatives at national, regional or local level promoting an entrepreneurial mindset and culture;

2. Investing in skills: recognises regional or local initiatives to improve entrepreneurial, vocational, technical and managerial skills;

3. Improving the business environment: recognises innovative policies at regional or local level to promote enterprise start up and growth, simplify legislative and administrative procedures for businesses and implement the ‘Think Small First' principle in favour of small and mediumsized enterprises (SMEs);

4. Supporting the internationalisation of business: recognises policies to encourage enterprises and particularly SMEs to benefit more from the opportunities offered by markets both inside and outside the European Union; 

5. Responsible and inclusive entrepreneurship: recognises regional or local actions promoting corporate social responsibility and sustainable business practices.

The Jury's grand prize goes to the entry considered the most creative and inspiring entrepreneurship initiative in Europe.

More than 350 local and regional authorities from all EU Member States competed in the national round of the European Enterprise Awards in 2008. Some 47 organisations were nominated for the final, with winners announced in Prague at special ceremony that marked the end of the first European SME Week in May 2009.