Monaco relaunches the Blue Fund initiative following its success
Monaco relaunches the Blue Fund initiative following its success - The Monegasque Government is relaunching the Blue Fund initiative to support the Principality's economic development, highlighting the many opportunities offered by digital technology in the Principality. The goal is to stimulate innovation and accelerate economic growth, while meeting the new needs of local businesses.
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. The program has supported the digital transition of companies 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 euros in projects, including 24.3 million euros 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.
The success of the first phase has led to the Government launching the second phase of the Blue Fund which is structured around two main principles: firstly, increasing the digital transformation of companies and deepening and diversifying their digital uses in order to reach a new level of competitiveness and growth. Secondly, the launch of the MonacoSanté Sécurité plan aimed at healthcare in partnership with the Department of Social Affairs and Health, with a plan specially designed to strengthen the security of health data and increase the protection of sensitive information while stimulating innovation within the healthcare sector. With this new phase, the Blue Fund continues to support the digital transition of Monaco's businesses, while strengthening the Principality's economic competitiveness in a constantly evolving digital environment.