The North Chamber of Commerce and Industry in cooperation with Norwegian-Russian Chamber of Commerce have initiated a new  international program “Young Entrepreneurship” . In the program the students and lectures from the Murmansk State Technical University (MSTU) and Murmansk Academy of Economics and Management as well as companies representatives are participating. The Program is financed by the Ministry for Foreign Affairs of Norway. The goal of the Program is to exchange experience and case studies how to start and develop business in Russia and in Norway.

Norwegian and Russian students started their work with an entrepreneurship program in Murmansk in this  October. They were challenged by Sparebank 1 Northern Norway/North West 1 Alliance bank with realistic business case.

The training sessions are part of the Matchmaking Norway-Russia: Entrepreneurship Program – Young Entrepreneurs. Companies and organizations such as North Chamber of Commerce and Industry, Statoil, Mannheimer Swartling, Confederation of Norwegian Enterprise (NHO), the Chamber of Commerce of Industry of the Russian Federation,  and others are central partners and contributors.

Gatherings are implemented with 3 working groups for the academic year 2013-2014, and take place in Arkhangelsk, Murmansk, Moscow, Ålesund, Tromsø and Bodø.

The young entrepreneurs have got a real challenge form the industry with realistic business cases. In Murmansk Sparebank 1 Northern Norway/North West 1 Alliance presented a case where the students were to write a business plan within the aqua culture business, with elements like increased production capacity in Norway, export of salmon to the Russian market, and also establishment of a daughter company and production in Russia; challenges with many cross-border dimensions. Main objective is to obtain funding from the banks.

Beside most common aspects of starting one’s business, the NRCC sessions focused a lot on the specific features of doing business in the two respective markets. For many of participants – and for mentors as well - it was an eye opening experience.