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1 Matchmaking Program Norway Russia: Entrepreneurship Program Young Entrepreneurs Plan of implementation (Final decision by the Steering Committee) Norwegian-Russian Chamber of Commerce

2 Matchmaking Norway-Russia: Entrepreneurship Program Young Entrepreneurs Implementation: Planning autumn 2012/spring 2013, implementation Project owner: Lecturer/ Academic Advisor: Scope of work: Financing: Target group: Norwegian Russian Chamber of Commerce (NRCC) Representatives from Business and Academy Develop and implement a tailor made training program for young entrepreneurs in Norway and Russia using a combined system of lectures, selected business working tools and group work with realistic business cases Ministry of Foreign Affairs of Norway and organization partners Russian and Norwegian students, younger Russian academic staff, and company representatives Partners: Russian Chamber of Commerce (CCI s) NHO Innovation Norway (IN) SIVA Junior Achievement-Young Enterprises Norway (JA-YE Norway) Junior Achievement Russia (JA-Russia) Gubkin Russian State University of Oil and Gas Plekhanov Russian University of Economics MGIMO Murmansk State Technical University Murmansk Academy of Economics and Management Kola Science Centre (Apatity) Northern (Arctic) Federal University Northern Business Institute University of Tromsø Ålesund University College University of Nordland Comment: There are several other universities and institutions in both Norway and Russian with interest to take part in the program. These might be included and invited for year two in the program. 2

3 1. Background information The Entrepreneurship program Young Entrepreneurs is one of two integrated parts of the NRCC Matchmaking program Norway-Russia, financed by MFA of Norway: The first part, Matchmaking Program (MMP), has already started on the 1 January Its purpose is to support Norwegian and Russian business enterprises in finding matching partners in Norway and Russia. As a basis for initial agreement of collaboration the matching partners sign a MoU. Thereafter they seek to establish optimal models of cooperation. The second part, Entrepreneurship program-yong entrepreneurs (EPYE) will begin after summer It has a different timeframe perspective in regards to business matchmaking since most of the participants first will go through a training program to enhance their entrepreneurial knowledge, skills and competence, before they start looking for business partners. In turn both programs will increase the Norwegian and Russian business collaboration, respectively in the closer (MMP) and long-term (EPYE) perspective. In the following, this plan describes the EPYE program only: 2. Purpose: The Entrepreneurship Program-Young Entrepreneurs (EPYE) is organized with the aim to increase long-term sustainable business collaboration between Norway and Russia. To make such results become real this program establishes gatherings in Norway and Russia with group works between: Norwegian and Russian course participants / students Norwegian and Russian enterprises Norwegian and Russian academic institutions A focus is made on realistic business cases in Norway and Russia that the participants will analyze by working in groups. The academic teaching material and methods of the program has been selected with this focus in mind. Experience from other entrepreneurial programs is implemented where applicable. 3. Objectives: The entrepreneurial modules shall include exercises in thinking and performing entrepreneurship with focus on analyzing and solving exemplified business cases from business experiences. Increase the knowledge of young entrepreneurship participants about Norwegian and Russian trade and investment markets, including opportunities and challenges 3

4 Increase cultural awareness by working in bicultural working camps on site Contribute to the recruitment of motivated young, talented professionals to Norwegian and Russian companies that will stimulate entrepreneurial activities Strengthen the network between Norwegian and Russian participants, including companies, associations, and university partners The main asset of this program is the participants who are Norwegian and Russian students and business representatives from both countries. 4. Definitions and explanations: i) Entrepreneurship is the act and art of being an entrepreneur or one who undertakes innovations or introducing new products, services, solutions, finance and business acumen in an effort to transform innovations into economic goods. ii) There are as well social and political forms of entrepreneurial activity iii) Entrepreneurship that is describing activities within a firm or large organization might also been mentioned as intra-preneurship iv) Business acumen is keenness and quickness in understanding and dealing with a business situation in a manner that is likely to lead to a good outcome Comment: For sake of simplicity we made a choice among several existing definitions and explanations of the word entrepreneurship, definitions that are more or less similar 5. Success criteria: The program defines several success criteria such as, but not limited to: The program is implemented with motivated course participants and in sufficient numbers Relevant and realistic business cases and active enterprises behind such A combination of student participants from Norway and Russia as well as young Russian academic employees and active enterprise representatives from both countries. Business cases are analyzed and solutions, or relevant elements of such, are found and in accordance with expectations for the program and for each business case Relevant contributions from Academic Advisors and institutions 75 % of the participants pass the final evaluations and exams Contribution to long-term sustainability and effects within participating institutions by embedding and including international entrepreneurship excellence- knowledge, competence, skills are revealed during the solving of the industrial business cases 4

5 6. Main Partners In Russia and Norway: Place University/Organization Moscow Russian Chamber of Commerce (CCI) Moscow Chamber of Commerce Gubkin Russian State University of Oil and Gas Plekhanov Russian University of Economics MGIMO Murmansk Murmansk Chamber of Commerce Murmansk State Technical University Murmansk Academy of Economics and Management Kola Science Centre (Apatity) Arkhangelsk Arkhangelsk Chamber of Commerce (CCI) Northern (Arctic) Federal University Northern Business Institute Tromsø University of Tromsø Ålesund Ålesund University College Bodø University of Nordland Participating representatives from Norwegian and Russian Business enterprises and enterprises that are presenting business cases 7. Program description Course content - learning activities and teaching methods: This course is structured around basic processes of entrepreneurship, business idea commercialization and international business development. These processes are exemplified, discussed and used in the context of Norwegian-Russian trade and business relations and through extensive group work with business cases presented by Norwegian and Russian enterprises. Lectures and learning of different analytical working tools provide participants with vital knowledge for working with selected business cases. The program of the entrepreneurship course consists of 3 modules gatherings; two of the modules to be conducted in Russia and one - in Norway. Prior to the first module, the course participants will be acquainted with a course literature providing a theoretical foundation on which the learning activities in the modules will be based. The students should pass a written exam testing students theoretical knowledge prior to learning activities in the first module. Prior to each module the students will receive an information package where they also will find info about the companies that are selected to present their business cases at the different camps. The students have to study the information of these packages and do some required preparations. Only at the camps the business cases will be revealed to the participants. Both NRCC and education institutions will function as coordinators between the course participants, learning institutions and business companies, unless otherwise specified. The topics for the different modules are described below: 5

6 Entrepreneurship camps/modules: Camp 1 in Russia: Start-up and commercialization Opening ceremony of the entrepreneurship program Market information about relevant Russian regions and Norway Exam in written form Innovation camp with presentation and work with a major business case The commercialization process development of business idea, product or services, market, customers, opportunities, risks and competitors Excursion Comment: This camp will begin immediately with focus on entrepreneurial thinking, team work and business cases. JA-YE Norway and JA-Russia will assist in leading into the exercises and a mayor business case that will get focus and be part of all three camps. The camp is in Russia. Camp 2 in Norway: Management, strategies and Norwegian Russian business experiences Market information about relevant Norwegian regions Corporate governance functions: Role of shareholders/owners, board of directors and enterprise management Investment strategies and financing opportunities Work with a new separate/regional business case Work with the major business case ( from camp 1) Excursion and company visit Norwegian Russian trade and business relations Cultural awareness, similarities and differences between Norway and Russia Comment: In this camp the mayor business case will be looked into from different perspectives. A new local business case will additionally challenge the participants to the limit of their entrepreneurial capabilities. The camp is in Norway. Camp 3 in Russia: Internationalization and market growth Trade and business experience and strategies in a Norwegian Russian relation Business networks and cultural codes Work with a new separate/regional business case Work with the major business case from camp 1 and 2. Final presentation Technology as driver for entrepreneurial products and innovations Project organization and management in international business development International business communication International marketing strategies 6

7 End of program, ceremony with program certificates Comment: The focus will be on business cases and international orientation as well as technology innovation. The camp includes an exam that consists of both a theoretical part and a practical part with presentation of business case solutions. The participants are at this point equipped with extensive entrepreneurial abilities, skills and motivation. They are introduced to different business networks such as, but not limited to, NRCC, NHO, Russian Chamber of Commerce, NBA in Murmansk, investors and business incubators such as Innovation Norway (IN) and SIVA. The camp is in Russia. Mode of delivery: Face-to-face in 3 intensive modules (2-3 days each) Assessment methods and criteria: A file-evaluation consisting of the following components (passed/not passed): - an entry test/school exam during the beginning of the first module - group work with two cases and following oral presentation Delivery of a final assignment case for 100% of the grade (after module 3). A minimum of 75% compulsory attendance of modules is required in order to be allowed to deliver the final assignment case, and thus complete the course. The University partners can for each institution decide if they want to offer the course with credits and grading system (A-F). Recommended or required reading: Bodø Graduate School of Business will produce a list of required literature. The level of knowledge of the participants/students will be tested with a written exam the first camp day. Locations of study: The project will include 3 working groups of young entrepreneurs who will meet 3 times per academic year and in the following places during year one: 1) Murmansk - Tromsø - Murmansk 2) Arkhangelsk - Ålesund - Arkhangelsk 3) Moscow - Bodø - Moscow 7

8 Duration year one: Activity Arkhangelsk group Murmansk group Moscow group Camp 1 Arkhangelsk September 2013 Camp 1 Murmansk October 2013 Camp 1 Moscow November 2013 Camp 2 Ålesund January 2014 Camp 2 Tromsø February 2014 Camp 2 Bodø March 2014 Camp 3 Arkhangelsk March 2014 Camp 3 Murmansk April 2014 Camp 3 Moscow April Learning outcome: Knowledge and understanding Skills Upon successful completion of the course the student will be able to demonstrate the knowledge and understanding of basics of the business planning and business idea commercialization processes Processes of how to start-up and run a company and close it after its purpose is achieved. Corporate governance functioning, including the role of shareholders/owners, board of directors and enterprise management Generic internationalization strategies, entry models on foreign markets and international funding opportunities Challenges for doing international business, especially impacts on business processes of differences in institutional business environment, cultural differences, formal/informal practices, differences in negotiation tactics Opportunities and barriers for development of national and regional business cooperation between Norway and Russia in the light of contemporary Norwegian-Russian political, economic and trade relations Existing Norwegian-Russian business networks and sources of financial support Students should be able to obtain the following skills: The ability to identify in a group work setting opportunities and challenges and solutions for international business development 8

9 The ability to navigate in unknown markets through activating existing business networks, building personal networks, alliances and mobilizing partnerships to foster business development To meet ethical challenges when engaging in international business development Navigation in Norwegian Russian business development and relations 9. General competence: Students will be able to: Cooperate in an international team and navigate in international business environments Develop and communicate solutions to a business case after having defined in written and oral form its opportunities and challenges in an international context. Plan, organize and manage own work in multicultural settings Additional benefits for the course participants: Students with good entrepreneurial progress/performance in the course may be offered opportunities to work in an environment where they can develop business ideas further in cooperation with Norwegian and Russian partners. Entrepreneurship competence is also required from companies for their development of new or improved products and services Benefits for the companies that present business cases: Marketing opportunities: Authorities, business, students, universities Alternative ideas and solutions to actual challenges (hopefully) More attention from business and authorities to a business case Company Social Responsibility by contribution to the training of future entrepreneurs in Norwegian and Russian business Later effects: Possible new business establishments / projects Possible entry into different business incubators in Norway / Russia ( SIVA in Murmansk etc) Recruitment base for Norwegian and Russian enterprises NRCC s B2B can assist with business partner search for graduates 9

10 10. Enrollment, participation and requirements: Prerequisites: Students must have completed at least 2 years of Bachelor either within business, economics, technology society science, but not limited to these areas. The course is reserved for students and young entrepreneurs less than 30 years old. Applicants to the course students and younger company representatives - will go through the admission process. In the application personal information and a motivation letter must be documented. Students should be fully able to use English as a working language. Offered as a free-standing course: Travel costs for students and young Russian academic staff will be covered by the program except for camps organized in the participants own country. Such covered costs will include travel, accommodation, visa, meals for the days of implementation. The program will be open for a limited number of self-funding young candidates less than 30 years from Norwegian and Russian companies. The fee for such company representatives is NOK 5.000,-exclusive of travel and accommodation costs. However, Russian company representatives do not pay any participation fee except for travel and accommodation. Students should be fully able to use English as a working language and the organizer will test the students language skills during a compulsory interview in English. 10

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