MonacoTech — Monaco's State–Telecom–Entrepreneur Startup Incubator

Monaco — a 2 km² city-state whose economy has long rested on banking, tourism and real estate — launched MonacoTech in November 2017 as a joint venture between the Monegasque government, telecoms operator Monaco Telecom, and French entrepreneur Xavier Niel (founder of Station F in Paris), to build a domestic technology and start-up sector from near-zero.
The incubator takes no equity from the start-ups it houses and is deliberately selective and small-scale: its 800 m² facility in Fontvieille holds space for around 20 resident companies at a time, and recent selection rounds have accepted only a handful of finalists from dozens of applicants (6 selected from 65 applicants in its January 2025 cohort). Sector focus leans toward blue tech, green tech and deep tech, reflecting Monaco's maritime and environmental priorities, and residents get access to Monaco Telecom's 5G network and a network of business angels and mentors.
As of early 2025, MonacoTech reported having supported more than 50 start-ups since 2017, with 21 currently in residence, together credited with creating 120 jobs, roughly half of them based in Monaco itself. Graduates include ventures across yachting-tech, medtech and biotech.
The figures are self-reported by the incubator through press coverage rather than independently audited, and 'jobs created' is not broken down by duration or full-time equivalence. Because roughly half of the jobs attributed to MonacoTech-incubated companies sit outside Monaco, the programme's direct local talent-retention effect is more modest than the headline number suggests, and the facility's ~20-company capacity caps its scale by design rather than by demand.

Read the full analysis: https://monacotech.mc/en/