Monaco Economic Board V1


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25 June 2018

MonacoTech: innovation is critical to the Monegasque economy

Launched in autumn 2017 and officially opened on 8 November last year, MonacoTech, the start-up programme created by the Monaco Government in partnership with Monaco Telecom and Xavier Niel, is now an integral part of the country’s economic landscape. Since its inception, it has earned a reputation as a dynamic force for reflection and promoting innovation. It has also added some new talent...

During its first year, MonacoTech received some 172 applications. Fifteen of these projects were chosen during two selection sessions. All of these companies are ambassadors of Monegasque innovation (you can find out about them here) and they have recently been joined by seven new start-ups chosen by a third panel (made up of professionals, entrepreneurs and representatives of institutions*):

  • © Government Communication Department / Manuel Vitali

    O’Sol hopes to make solar energy accessible to portable or emergency applications thanks to solar solutions which are mobile, smart and easy to use. The company is also developing generators that deploy their panels and follow the sun automatically (like sunflowers). These can be set up and dismantled in under a minute, and they can also be linked together to create a smart micro-network (
  • Black River is a start-up which designs underwater vehicles, including the BR1000, its flagship product, which “aims to be the most advanced in the world.” The BR1000 is multifunctional (it can operate autonomously but is also capable of transporting a pilot and passenger). Its design was inspired by the tuna fish, which has a remarkable ability to move around underwater. It has applications in the military, research and the oil and gas industry.
  • URBANLab offers solutions for pedestrian flow simulations which “put people back in the centre of focus.” Essentially, this is about giving “stakeholders in urban development the ability to live in a space before building it,” and “transforming urban data into smart information.” The aim? “For everyone to be able to travel around town as quickly and safely as possible.”
  • Classic & Electric’s idea is to convert classic cars to run on electricity, while fully preserving their original characteristics and identity and thus “creating the future of cars from the past.” The conversion is completely invisible from the outside and preserves the integrity of sub-assemblies and systems (clutch, gearbox, transmission, suspension, brakes, dashboard, etc.). Not to mention the fact that it is 100% reversible (
  • iDruide is a start-up offering an innovative, secure solution (protection and non-commercialisation of pupil data), developed specifically for the education sector. The solution comprises a tablet with a detachable keyboard, an operating system, mobile device management and class management software. The concept: one tablet for each pupil and teacher, which can be used at home or at school to “encourage independence and academic success” and “develop new ways of learning” thanks to technologies “that combine intuitiveness and ergonomics.”
  • SKYdeals is a tool that enables travellers to take advantage of private sales during a flight from their smartphones or tablets connected to WiFi (products from major brands and exclusive offers for tours and services at their destination). It is a true e-commerce platform dedicated to connected air travellers (
  • OSM / Orbital Solutions (Monaco) is a new player in the rapidly expanding nanosatellites sector (nanosatellites are satellites weighing just 1–10 kg and placed in low-earth orbit; they offer significantly reduced production costs). The company is helping to “democratise” the use of space and develop applications which were unthinkable ten years ago in numerous sectors, such as environmental studies, earth observation, IoT, machine-to-machine communications, etc.

A lively space

In addition to hosting start-ups, these premises have also been the venue for a number of events held by MonacoTech or other organisations such as the Monaco Economic Board and the Junior Chamber International Monaco: meetings, conferences, presentations and even a concert during the Printemps des Arts Festival. So it’s entirely natural that the 5th Start-up Weekend Monaco took place at MonacoTech from 27 to 29 April this year.

MonacoTech, Monaco Telecom and the Printemps des Arts Festival joined forces to present a conference on IanniX software and an electroacoustic concert on 13 February – a highly innovative project to promote digital art. © Government Communication Department / Charly Gallo

MonacoTech website:

* Cyril Guenoun, Co-Founder of Aglaé Ventures, Robin Rivaton, President and Founder of Real Estech, François-Xavier Leclerc, Manager of the Financing and Economic Development Division at the Business Development Agency, Patricia Niego, Founder of Beaunies Invest/Member of the Women Business Angels, Aurélie Lavaud, Co-Founder of BimBamJob, André Saint-Mleux, Business Angel & State Administrator for RMC and Monaco Telecom, Frank Julien, Member of the National Council, and Henriëtte van Niekerk, Director of Clarksons Platou.


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