The scheme, This Is My Future, aims to inspire 500,000 start-ups over the next three years through a series of tools and access to specialist advice. It is backed by a budget of e2.2 million.
It includes a web platform with inspirational content from young entrepreneurs and practical tools to test ideas, as well as networking events, mentoring and a portal linking entrepreneurs to advice from established businesses and funding sites.
A network of young entrepreneurs based initially in five hub markets will be responsible for growing the network, nurturing membership and commercialising the This Is My Future website.
The EACA has secured support for a TV, print and digital campaign to promote the website from media owners such as Google and Facebook, as well as industry bodies including the European Magazine Media Association, the European Publishers Council and the Association of Commercial Television in Europe. StartUp Britain is also backing the campaign.
Moray MacLennan, the EACA president and chief executive of M&C Saatchi Worldwide, said: "The EACA is uniquely placed in terms of skills and influence to devise and implement a meaningful campaign to engage young people."