Start-up incubator and accelerator

Monaco is confirming its position as a centre for innovation and is thus further stimulating the development of its economy.

On 8 November 2017 the incubator was inaugurated by H.S.H. the Sovereign Prince, Jean Castellini, Government Counsellor-Minister of Finance and Economy and Xavier Niel.

By creating MonacoTech, an accelerator and incubator for Monaco’s start-ups one year ago, the Monegasque state, in partnership with Monaco Telecom and Xavier Niel, hoped to send out a strong message in order to attract and assist innovative start-ups from the health, finance, environment and smart city sectors.

The aim is simple: MonacoTech helps innovative companies or business projects with high growth potential to get established in the Principality, enabling them to take full advantage of the Monegasque ecosystem, while working in harmony with Monaco’s vision and strategy.

This vision of tomorrow’s economy, based on a commitment to diversify the country’s economic activities and to stimulate job creation, is the result of deliberations conducted by the Government since the end of 2015. The intention being to shape Monaco’s economy of tomorrow. Two years were necessary to organise the project and make it into a crucial link in the Principality’s innovation chain, which has already enabled the creation of 26 jobs (excluding interns).

The results are in, and one year on, MonacoTech has launched 3 calls for applications in June and September 2017 and in April

2018, totalling more than 230 applicants from thirty different countries. 24 start-ups have received support and 16 start-ups.

In order to take stock of this first year of activity, the successes and prospects for this coming year, the editorial team went to meet with Fabrice Marquet, Director of MonacoTech and his team, composed of Laure Fagard, Laurie Rogers and Carl Frauenstein.

To read all the article of Monaco Business Magazine бизнес, The Russian Business Magazine of Monaco.

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