The Blue Fund: a new phase to stimulate digital innovation
© Monaco Government
The Prince’s Government is launching a new ‘wave’ of the Blue Fund initiative to support the Principality’s economic development.
Launched at the end of 2020 in the wake of the health crisis, the Blue Fund was designed to support Monegasque businesses in their digital transition. Since its creation, the scheme has supported over 700 companies, with a total of €52 million worth of projects funded, including €24.3 million in direct subsidies.
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Local Digital Services Companies have played an active role, carrying out over 90% of the transformation projects. The Fund has also enabled over 3,500 professionals to benefit from specialist training. The success of the first phase has consolidated the digital ecosystem in Monaco, prompting the Prince’s Government to launch a second phase.
Two strategic priorities, focused on innovation and competitiveness
Reinforce businesses’ digital transformation. Having laid the foundations for digitalisation in its first phase, the new Blue Fund phase aims to go further by furthering and diversifying digital uses. The aim is clear: to stimulate innovation so that Monegasque businesses can achieve new levels of competitiveness and growth. By introducing advanced technological solutions, the Principality is committed to supporting its economic players as they adapt to an ever-changing digital environment.
Launch the ‘MonacoSanté Sécurité’ plan. The second strategic area, developed in partnership with the Ministry of Health and Social Affairs, focuses on data security in the medical sector. It addresses a major challenge: protecting sensitive information while stimulating innovation in the healthcare sector. The plan bolsters confidence among the sector’s stakeholders, meeting the most demanding standards in terms of data protection.