MonacoTech, the start-up incubator and accelerator established by the Monegasque Government in partnership with Monaco Telecom, was recently inaugurated by H.S.H. the Sovereign Prince, Jean Castellini, Minister of Finance and Economy, and Xavier Niel.
In an open area of more than 800 square metres, including a co-working space, MonacoTech began hosting some 15 start-ups a few days ago. Five out of 67 applicants were successful at the first selection panel (CIEL, Hyve, KeeSystem, TerraioT, and YouStock), and a further 10 (out of 115 applicants) were chosen by the second selection panel (Novetech Surgery, Lanéva Boats, PHYG, Surgisafe, Coraliotech, Gangz, Nanotek Materials, Linkyourleasure, Teale, and YACHTNEEDS).
MonacoTech is the only organisation of this kind in the Principality. Its primary goal is to support the creation and launch of innovative projects thanks to a dynamic ecosystem and network (including business angels, venture capital, banks, etc.). As Jean Castellini emphasised: “This initiative from the Government is part of the change we need to introduce to transform the Principality’s economy over the years to come.”