Project “Contest „Create for the Region "" aim is to give opportunity to students in Latvia and Estonia to reveal and showcase their entrepreneurial talents and such personal qualities as ability to take responsibility and ability to deliver results. In doing so, students will build their reputation and gain better career opportunities in the future, while helping to develop regions of Latvia and Estonia . The competition format is chosen in order to attract media attention and obtain the maximum support from their universities which would build their own reputations through contest as well. The long term vision for the project is to become a tool through which the energy, creativity and ambitions of youth, as well as universities’ resources are being diverted to the creation of new economic value in Latvian and other EU countries. The fact, that contest would be running in several countries in future, will give opportunity to create multi-talented and multi-national teams that would use local resources and advantages in order to jointly create global companies. The students, who will participate in the project, will gain huge live experience as well as new level of consciousness and understanding of things. By doing that, a new generation of entrepreneurs would be built, who is ready to create and work not only for one’s own benefits, but for the sake and wellbeing of whole society. The project will become a quality brand that will open doors to new carrier possibilities and growth opportunities for every participant. In the first pilot project that will end in 2016, 400 youngsters from 20 universities will participate and realize their business projects in 30 different regions of Latvia and Estonia. The project will have a prize fund and media which will make it more like a reality show. Project has already started in Latvia and has proved that it could reach all ambitious goals. It is crucially important to launch this project internationally at this moment and test different approaches for attracting student teams and regions, as well as test different length and contest rules. If it would be run only in Latvia, it would take 5-6 years to test them. Thus it will give opportunity to spread this contest across the Europe and create international student companies and carry out international student business projects in later years The experience that is gained in Latvia, will be used in Estonia in autumn 2014 in order to launch project there and make it international. Throughout the whole project, Latvian side experience will be transferred to Estonia that would allow to test instantly different approaches and quickly learn from mistakes. Project will consist of 3 stages. In first stage will be approached municipalities about participation and student teams would apply for the contest and best of them will be selected. Application and selection stage will last 3-6 month. During second stage, teams will work out action plan, in which they will describe business ideas that they are going to carry out in the next stage. Third stage is in which real activity will go on and teams will try to realize their business ideas by using all available resources. They will do that 1 year ( Estonia) or 2 years (Latvia) and they could establish their own companies in order to do that or help already existing companies with their business projects. Organizers’ approach to this project is by giving opportunity and information that would help them to attain their goals. There will not be much learning provided by organizers, leaving it for universities. 80 new jobs and 15 new companies will be created and at least 3m EUR financing to different business projects will be attracted at the end of the project. Most active youngsters will receive great carrier growth proposals and each of 400 youngsters will understand for real what it is to be an entrepreneur and how hard or easy is to carry out business projects and create new value. The medium term goal is to make this project financially self-sufficient from contributions of stakeholders. It will be happening in at least 10 EU countries and will become an effective tool for solving local economic problems by using energy and talents of local and international students.