The competition has often been graced by those who have already established themselves as some of the best young players in the world and have dazzled to the surprise of nobody. However, it has been much more important to others.
Since becoming a more high-profile event in the 90s, being revamped to take place in a single nation across a single month like other major international tournaments, it has served as a launchpad for many, putting them on the path to stardom.
Andrea Pirlo
Pirlo would go on to become one of the greatest Italian players ever, but nobody knew that at the turn of the century. He entered U21 EURO 2000 on the back of a solid but unspectacular season on loan at Reggina from Inter, where he was struggling to establish himself.
At the tournament in Slovakia, though, he showed just how much potential he had. Captaining Italy, he impressed throughout the event and scored two goals in the final against the Czech Republic - one a trademark free-kick - to win his nation the title and win himself the Player of the Tournament award.
While he failed to nail down a spot in the starting XI upon his return to Inter, his now-enhanced reputation earned him a mid-season loan move to Brescia, where everything changed for him.
He was converted from a number 10 to a deep-lying playmaker due to Italian legend Roberto Baggio playing in his usual position and thrived in his new role, so much so that AC Milan signed him for €17 million at the end of the campaign.
Petr Cech
Cech was already Sparta Prague's first-choice goalkeeper and a Czech international when U21 EURO 2002 came around having picked up his first cap three months prior. However, his role in his nation's run to the title in Switzerland helped him become known beyond his own country's borders.
In the final against a stronger France side that had beaten the Czechs 2-0 in the opening game, Cech produced an excellent performance to keep things goalless for 120 minutes. In the penalty shootout that followed, he made two saves to win his nation their first-ever youth title.
"They had a great goalkeeper, great not only in size but also in the way he played, and that made the difference," France manager Raymond Domenech said afterwards, and he wasn't the only Frenchman to take notice of the goalkeeper, with Rennes opting to sign him in the summer that followed.
He quickly established himself as the French side's goalkeeper, and impressed enough to earn a move to Chelsea two years later. The rest, as they say, is history.
Klaas-Jan Huntelaar
Huntelaar entered U21 EURO 2006 with a point to prove after being left out of the senior side's World Cup squad despite just being named Ajax's player of the season and the Netherlands' talent of the year after joining the Amsterdam side six months prior. And prove a point he did.
The striker was unquestionably the star of the tournament, scoring four goals, including two in the final and a beauty of a lob over France's Steve Mandanda in the semis. Oranje were crowned champions and he was named the player of the tournament.
He was subsequently made Ajax's vice-captain and given a chance by national team manager Marco van Basten, getting two goals and two assists in his debut against the Republic of Ireland. Despite having Ruud van Nistelrooy and Robin van Persie to contend with, he remained a regular squad member after that and established himself as Ajax's star man.
After two dazzling seasons in the Eredivisie and a goalscoring cameo at EURO 2008, he was signed by Real Madrid.
Manuel Neuer
Neuer has become one of the greatest goalkeepers of all time at Bayern Munich, and his performances at U21 EURO 2009 played a big part in him getting a move to the German giants.
The then-Schalke man conceded just one goal in five matches during Germany's run to the title and was especially impressive in the semi-final against Italy, in which he made incredible saves to keep out Mario Balotelli and Thiago Motta.
"I believe that Manuel Neuer is interested in coming to FC Bayern. Should Schalke give us a signal that they are ready to talk, we will start negotiations," Bayern chairman Karl-Heinz Rummenigge said on the month of the tournament, and his club upped their interest after it.
While Schalke held on to Neuer for two more seasons, Bayern finally got their man in 2011.
Xherdan Shaqiri
Shaqiri was another player who caught Bayern's eye at the tournament with the Swiss winger lighting up the 2011 edition.
In his first chance to impress on a bigger stage, the Basel man only scored once - it was one of his many wonder goals - in Switzerland's surprise run to the final, but was a nightmare for defenders throughout and was named in the team of the tournament.
Just over half a year later, he moved from Basel to Bayern for around €12 million and would go on to spend over a decade playing at the highest level of European football for them, Inter, Liverpool and Lyon.