Business incubator
SIVA establishes a new incubator in Murmansk in Polar Star Innovation centre. The premises will be ready in autumn 2007, target group for Incubator are Norwegian and Russian companies and private individuals that aim to test new business ideas in the Russian market.
Incubator in innovation center Polar Star will contain knowledge and network, space and important office services that will be at companies’ disposal!
Incubator is an offer to private individuals and companies from Norway and Murmansk region that wish to develop and implement new knowledge and technology to new products or services.
- Selection of well qualified incubator leadership
- Qualified and proper help, follow up, assistance and counseling on a high scientific level
- Network to competence, company partners and investment environment
- Correct entrance policy that involves choice of companies that can grow fast
- A clear exit policy that says when a successful company should exit the incubator
- Clear requests to incubator companies that also say when a less successful company should exit the incubator
- Clarified long term ownership of incubator premises for at least 5 to 10 years
- Sufficient infrastructure, access to the Internet, common office equipment (copy machine, fax etc.) for all companies in the incubator
- Strong support of local institutions (university, local authorities and other)
- Independence from local political influence and other forms of external influence.
Incubator will provide companies with assistance and help in launching and operational phase. The help will vary from company to company and the time when help is given. Service and counseling will be chosen within the fields where challenges, complexity, advantage and need are supposed to be the greatest.
Criteria for admission to the Incubator
Admission criteria are that company or individual has developed his/her/its idea that cannot go further without launching a real company, or company or individual person has established a company recently and discovered that it needed another environment or better conditions in order to grow further.
Potential candidates (hereby companies and individual persons) must have a plan that goes further than the very establishment. The candidate must have certain goals to expand its company and some ideas on how to achieve that. The candidate must have real need for the service that incubator provides. Candidate’s aim must be to become so operative that it can move out of incubator and give its place to others. Business plans that include industrial cooperation or innovation cooperation between Norway and Murmansk region are prioritized. In principle, this is valid for both Norwegian and Russian companies or private individuals.
Suggestion for selection of topical candidates is made by Innovation centers administration. Final decision is made by Incubator expert council.
It is assumed that incubator time for companies will last for approximately 3 years. This can vary. Some may need more time. The company will be evaluated every half a year in order to measure the progress. Incubator expert council will decide the time of exit.
Exit policy
In principle, each company should leave the Incubator after 3 years. The exception is made in the cases where company has an extraordinary possibility and need a bit more time. The evaluation in such cases will be made upon growth principle and other advantageous values regarding the potential to create working places.
The companies that do not take advantage of a normal growth rate in accordance with their possibilities, or have a passive attitude, i.e. ignore advice and recommendations from the council in innovation center, can lose their right to participate further in the incubator. Failure in payment (rent, services etc.) can also be a reason for dismissal.
Conditions of company’s exit from the incubator are specified in rent agreement between the innovation center and each company.
If you have any questions in the meantime please contact Innovation center’s administration on mail@barentsnova.com.
For additional information and application please click here