The amber coast for SMEs: “Victoria” Foundation of Knowledge and Technologies for Small and Medium Business

Kaliningrad region (the Russian exclave by the Baltic Sea) is famous for its amber-rich beaches and unique nature. However, ”Victoria” Foundation of Knowledge and Technologies for Small and Medium Business is helping foreign companies to enter the Kaliningrad region and Russian markets and to see the advantages of business-making in the region. This leading non-governmental organization also encourages local people to start their own businesses by providing them with all the necessary tools for a successful head-start.

Kaliningrad region (the Russian exclave by the Baltic Sea) is famous for its amber-rich beaches and unique nature. However, ”Victoria” Foundation of Knowledge and Technologies for Small and Medium Business is helping foreign companies to enter the Kaliningrad region and Russian markets and to see the advantages of business-making in the region. This leading non-governmental organization also encourages local people to start their own businesses by providing them with all the necessary tools for a successful head-start.

E-Visa to facilitate the region development 

Kaliningrad region is a Russian exclave located between two European countries – it is neighbouring Poland and Lithuania, and is bordered by the Baltic Sea. The region has a population of almost 1 million citizens.  

In 2013 federal programme “Socioeconomic Development of the Kaliningrad Region until 2020” was launched, to eliminate excessive administrative barriers in the field of customs administration. As a result, since July 2019 it is possible to enter Kaliningrad for free, by obtaining e-visa online. This is expected to increase the further development of the region.

Professional West-to-East business gateway

“Victoria” acts as a professional gateway on the Amber Coast of the Baltic Sea with a Western approach to help to create useful links in the East. The Foundation has two main objectives. Firstly, it searches for up-to-date proven business concepts, technologies, solutions and services from abroad and applies them to Russia. These business packages are mainly used to help young, retired or unemployed people and others who do not have a business idea to start a business.

Secondly, it helps SMEs to organise events, provide sales promotion, advisory, and other support services. Among these services, “Victoria” organises and conducts business missions, workshops, conferences, and other networking events. It also helps to promote individual companies, by giving access to information and resources, provides private consulting services, partners search, matchmaking, etc.

These companies can get up-to-date advisory services, tailored market research, economic reviews, and other market-entry support. Besides these support services, “Victoria” rents office space for events, legal services, etc. This full package makes “Victoria” a perfect place to seek support for young businesses.

Successful partnerships lead to success stories

“Victoria” has a portfolio of successfully adapted new technological advances in the Kaliningrad region. One of the recent ones was working on the adapted dry-ice blasting technology business package, which is used in industrial, carbon-dioxide cleaning. The Foundation provided a commercialisation idea that led to a newly established and successfully working startup. 

“Victoria” also offers a wide range of advantages for companies aiming to enter the Kaliningrad and Russian markets, including broad business network in the Kaliningrad region and all over Russia; knowledge, experience, and data to successfully promote new business developments; wise geographical location of Kaliningrad that can be a gateway from West to East; experience in running professional conferences, missions, seminars, and other business networking events.

How to grow your business with “Victoria” Foundation?

The Foundation’s main focus is to promote small companies with hands-on activities. The incubation period for new companies usually lasts from six months to one year but the timing may vary depending on the level of preparation and complexity of the business. 

“Victoria” peers usually set up two kinds of partnerships. The first one is applied to the model where the Foundation offers new technology adapted for local use and invests in a new company by receiving 70% of the company’s profits. “Victoria” provides accounting, legal and marketing support. Moreover, a partner is able to redeem the Foundation share after 5 years period. The second option for a partner is to bring his own technology and use “Victoria” consulting, legal and marketing services to enter the market. These services cost from 5 to 10% of the newly generated profits.

The “Victoria” Foundation has partners in both the public and private sectors. Foundation’s broad partnership network in Russia makes it easy to connect small companies with business partners. This also facilitates companies’ entering the Russian market and helps them to grow faster.