• fr
  • en

Q & A

The start-up’s requirements

How much does it cost to participate in the MonacoTech incubator?

Startups can participate in the programme for a monthly fee of €300 per office.

What are the criteria for applicants?

We are looking for people of all ages and from all backgrounds, ready to defend their ideas passionately and forcefully, but also pragmatically. There is just one condition: to be eligible for the programme, you must have an existing team in place, united around an innovative project.

How many people can be part of my startup?

Today, our startups are mostly made up of two to three people. In principle, each startup is limited to a maximum of four offices at our premises. If you have a larger team, you can still apply, although if your application is accepted you will only be allocated a limited number of offices. Not all of your team need necessarily be based at MonacoTech. You can have personnel at premises elsewhere in Monaco.

Does the company’s registered office need to be in Monaco?

Our primary aim is for the startups that we support to achieve success and establish at least a part of their business in the Principality. While your startup need not necessarily be registered in Monaco when you join MonacoTech, we do hope that this will be the case in the future. It is also possible to establish the registered office of your company at the incubator’s premises.

Is there a preferred sector for participation in the incubator?

The incubator programme is open to all ideas. As such, companies do not need to operate in a particular sector, provided the business project is innovative. However, we may invite applications from entrepreneurs and businesses in a particular sector at some point in the future.

What are the main selection criteria?

In the long run, our aim is for the startups that follow our programme to flourish and create jobs in Monaco. The panel will therefore attach importance to the project’s potential positive impact in the Principality. Of course, the co-founders’ attitude and mindset will also be evaluated, along with the project’s potential for success.

What rules apply at the incubator?

As at any organisation, there are rules to be followed for the benefit of all. One rule in particular is of paramount importance for us. We require at least one of the co-founders or managing directors to be based full-time at our premises. If this rule is not respected, the collaboration between MonacoTech and the startup concerned will be ended.

How long can I stay at MonacoTech? How long is the incubation period?

The “incubation period” is tailored to the start-up’s requirements. We do not set a fixed period, as we prefer to provide maximum support to startups for as long as they need it.

However, review panels will take place every three months to assess the progress of projects. Startups that have not met their obligations will be removed from the programme.

What added value does MonacoTech provide thanks to its location?

It is important to bear in mind that Monaco offers a rich and fertile business ecosystem. The Principality covers two square kilometres and is home to 38,000 inhabitants, over 130 nationalities, 6,000 companies, and a diverse range of different entrepreneurial profiles…

MonacoTech fits perfectly into that dynamic environment. Thanks to its extensive network, the incubator can put startups in contact with a variety of different parties both up- and downstream from the entrepreneurial project, including private investors, mentors, contributors, service providers, and institutions.

What type of support does MonacoTech provide to startups? Is training available? What does the programme involve?

Startups receive support throughout their time at MonacoTech. Each week is organised around key meetings: a weekly get-together with the director on Monday mornings, workshops with professionals from the business world on Tuesdays and Thursdays, and a methodology class on Wednesdays and Fridays. Conferences are also held, to provide information and advice on the incubation process. In addition, as part of MonacoTech’s partnership with the International University of Monaco (IUM), our startups get access to entrepreneurship and management courses allowing them to build up their knowledge and skills whilst developing their project.

Startups receive a wealth of support to deal with all of the difficulties they might encounter, and are never left to face challenges alone!

Does MonacoTech help with administrative formalities?

Absolutely. We have everything needed to help simplify your administrative procedures, and have a direct relationship with the Principality’s Business Development Agency.

When will the next applications open?

No date has been fixed at this point. We recommend following us on our social networks to stay informed.

For information, our most recent round of applications was launched in late January, and ended in early March. After that, the various stages of the selection process took place, culminating with the acceptance panel which identified the most convincing projects. The startups selected moved into the premises in mid-June.

When is the incubator open?

The incubator is open 24/7. You may come and go freely using the electronic badge provided.

How to reach MonacoTech

Ideally located in Monaco’s Fontvieille district, MonacoTech can be reached easily by car, bus or train. There are two car parks within 200 metres of the premises, the Stade Louis-II and Saint Antoine car parks. Bus n°100 from Menton or Nice stops at Places d’Armes, which is just five minutes’ walk from the incubator. Monaco train station is around a ten minute walk away.

 

Do you have other questions, concerns or comments? Not found what you are looking for? Email us at contact@monacotech.mc and we’ll get back to you asap!

 

Q&A