Monaco’s entrepreneurial eco-system has received a major “boost” thanks to the opening of another government funded start-up incubator capable of supporting 108 businesses.
Monaco Boost was officially launched on Wednesday 6th January by Minister of State Pierre Dartout, Finance and Economy Minister Jean Castellini and President of the National Council Stephane Valeri.
Like its sister incubator MonacoTech created in 2017, Monaco Boost is able to provide office space to start-ups looking to get established and register as a company in the Principality.
“I welcome the implementation of this tool available to Monaco’s entrepreneurs who create and innovate, and which will be used to promote economic initiatives in the Principality,” said the minister of state.
Monaco Boost is located in zone F of Fontvieille and is 100% owned by the State, with Laurence Garino, head of the Monaco Welcome Office, taking on the position of administrator.
The 1,200 square metre business centre is made up of 32 closed office spaces, two co-working areas that include 16 shared offices and 12 “hot spots”, two meeting rooms, one multipurpose room, a cafeteria, a relaxation area and a terrace.
The whole space is capable of accommodating 108 companies.
The government has indicated that by the end of January 2021, a call for applications will be launched for individual offices, with a view to installing the first contractors in April 2021. The Allocation Commission will be chaired by the Minister of Finance and Economy Jean Castellini and include National Council representatives, the Administration des Domaines, the Directorate of Economic Expansion, and SAM Monaco Boost.
Photo by Michael Alesi – Government Communication Department