Business & Finance
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MonacoTech launched its website Monday at midnight from which applicants can submit their business projects for either the Incubator or Accelerator program. The site – www.monacotech.mc – in both English and French, is the entry platform for startups seeking support.
Headed by Fabrice Marquet, MonacoTech has been created by the Monaco government, in partnership with Monaco Telecom and French entrepreneur Xavier Niel. It has multiple objectives: to support innovative projects in business creation in Monaco; to create successful companies; to diversify the Principality’s economic activities by positioning itself as a credible and radiant innovation capital and to generate indirect economic spin-offs. In the long term, the role of MonacoTech is to perpetuate new companies and integrate them into the local economic fabric.
Local and international projects in any field related to technology, in fintech, healthtech, smart city, connected objects, and so on, will be studied by a jury of professionals. As previously announced, MonacoTech will have space totalling 820m2, which can accommodate up to 20 startups, that is to say about sixty seats, with a semi-public part and co-working space, from a cost of €150 to €300 per month. Startups will benefit from support in terms of advice, follow-up, support and financing during the initial stages of their creation. The premises are scheduled to open in the autumn of 2017.
Speaking at the CleanEquity conference in March, Minster of Economy Jean Castellini said, “Together, we will try to make Monaco a base of start-ups in the telecom industry but I would want the cleantech nuggets of tomorrow to be born, raised and incubated in the Principality, as well as healthtech and fintech.”
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CFM Indosuez has inaugurated an innovative solidarity finance offer with the Oceanographic Institute with a donation of €130,000, 30% of which comes from investors fees.
Entries are now open for the MDO Monte-Carlo Prize, an international award for outstanding companies in terms of innovation, technology, design and sustainability.
The first six months of this year saw strong recovery in most aspects of the economy, however there are sectors that are still struggling with the impact of the Covid pandemic.