MonacoTech, the Incubator and Accelerator startup program created by the Monaco State in partnership with Monaco Telecom was inaugurated by Prince Albert, Minister of Finance and Economy Jean Castellini and Xavier Niel, owner of Monaco Telecom, on Wednesday afternoon.
With more than 800 square metres of open space, including a co-working space, two fab labs and a ping-pong room, MonacoTech has already welcomed 15 startups over the last few days, from various countries including Singapore and Canada.
MonacoTech is the only organisation of its kind in the Principality. Its main objective is to support the creation and launch of innovative projects through a dynamic ecosystem and a network of business angels, venture capital, banks, and so on.
Jean Castellini, in the presence also of Minister Marie-Pierre Gramaglia, Minister for Public Works, the Environment and Urban Development, and Minister of State Serge Telle, pointed out: “This initiative of the Government is part of the necessary evolution to transform the economy of the Principality over the years to come.”
The Minister of Economy added, “The baby has been born and will grow quickly. We wish her a long happy life.”
There was also acknowledgement from Minister Castellini and Xavier Niel of the efforts and “brilliance” of MonacoTech Director Fabrice Marquet, a Monegasque who launched two businesses of his own during his years living abroad.
The first selection jury had selected five startups out of 67 submitted files (CIEL, Hyve, KeeSystem, TerraioT, YouStock) and the second jury 10 of the 115 files submitted (Novetech Surgery, Lanveva Boats, Phyg, Surgisafe, Coraliotech, Gangz, Nanotek Materials, Linkyourleasure, Teale, Yachtneeds).