The Blue Fund: a new phase to stimulate innovation and strengthen Monaco’s digital economy

The Prince’s Government is relaunching the Blue Fund initiative to support the Principality’s economic development, drawing on the many opportunities offered by digital technology.

This second phase aims to stimulate innovation and accelerate economic growth, while meeting the new needs of local businesses.

A first success in the service of economic continuity

The Blue Fund, launched at the end of 2020, after the health crisis, is an initiative of the Department of Finance and Economy (D.F.E.) and the Interministerial Delegation responsible for the Digital Transition (D.I.T.N.), as part of the Extended Monaco for Business program. This economic recovery program has supported the digital transition of businesses in the Principality, playing a crucial role in ensuring the continuity of economic activities in the face of the challenges posed by the crisis.

Since its launch, more than 700 companies have benefited from the scheme, representing a total of €52 million in projects, including €24.3 million in direct aid. This first phase also mobilized local Digital Services Companies (ESN), which carried out more than 90% of the transformation projects, thus strengthening the Monegasque digital ecosystem.

More than 3,500 professionals have also benefited from specialized training, contributing to the development of skills within companies and the overall dynamism of the economic fabric.

Phase 2: a recovery focused on innovation and competitiveness

The success of this first phase encourages the Government to launch a second phase of the Blue Fund, which is evolving from an economic recovery program to a digital optimization program in order to promote development. This new phase is structured around two strategic axes:

1. Strengthening the digital transformation of companies: after accelerating the adoption of new technologies in the first phase, this new phase aims to deepen and diversify digital uses, by promoting innovation to enable companies in the Principality to reach a new level of competitiveness and growth in an increasingly digital environment.
2. Launch of the MonacoSanté Sécurité plan: this new strategic axis aimed at health stakeholders, in partnership with the Department of Social Affairs and Health, constitutes a real innovation in the second phase of the Blue Fund. This plan is specially designed to strengthen the security of health data, a major issue in the digital age. This initiative marks a decisive step forward in ensuring trust and aims to strengthen the protection of sensitive information while stimulating innovation in the health sector.

With this new phase, the Blue Fund continues to support the digital transition of Monaco companies, while strengthening the economic competitiveness of the Principality in a constantly evolving digital environment.

For more information visit eme.gouv.mc or monacosanté.mc.

Source: Government Portal