This article is part of an interview with Monaco Open for Business: Serge Pierryves, Director of Monaco’s Business Development Agency (Direction de l’Expansion Economique).
The new Pass Starup Programme, set up in October 2017, aims to facilitate the support and integration of those startups selected by startup programme panels through SAM “Monaco Tech”.
The programme establishes a specific legal status for the startups concerned, which, as they may come from any country, may have very different statutes or legal forms. In addition, the programme helps startups by providing tutored support from local professionals and a group of mentors.
Included in the programme is a StartUp Programme Grant. This is a one-off grant intended to encourage entrepreneurs to take risks, by providing financial support during the startup’s innovative phase.
The subsidy can cover up to 70 percent of the estimated expenditure budget related to the design, definition and feasibility studies of the project, up to a maximum of €35,000, which is paid in two instalments during the incubation or acceleration period.