The Blue Fund: a new phase to boost innovation and strengthen Monaco's digital economy

The Prince's Government is launching a new phase of the Blue Fund initiative to help further the Principality's economic development by leveraging the vast opportunities offered by digital technology. This second phase aims to boost innovation and accelerate economic growth while meeting the evolving needs of local businesses.

Initial success for economic continuity

The Blue Fund, launched at the end of 2020 after the global pandemic, is an initiative developed by the Ministry of Finance and Economy (D.F.E.) and the Interministerial Delegation for Digital Transition (D.I.T.N.) as part of the Extended Monaco for Business programme. This economic recovery programme has supported the digital transition of businesses in the Principality, thus playing a crucial role in ensuring the continuity of economic activity despite the challenges brought about by the pandemic.

Since its launch, more than 700 businesses have benefited from the scheme, representing a total of €52 million in projects, including €24.3 million in direct aid. This first phase also involved local Digital Service Providers (DSPs), who carried out over 90% of the transformation projects, strengthening Monaco's digital ecosystem. 

More than 3,500 professionals have also benefited from specialised training to enhance skills within companies and contribute to the overall economic dynamism of the region.

Phase 2: a recovery focused on innovation and competitiveness

The success of this first phase has prompted the Government to launch a second phase of the Blue Fund, which is shifting from an economic recovery programme to a digital optimisation programme to boost development. This new phase focuses on two strategic areas:

1. Stepping up the digital transformation of businesses: after fast-tracking the introduction of new technologies in the first phase, this new phase aims to intensify and diversify the use of digital technology to boost innovation and take the Principality's businesses to new heights of competitiveness and growth in an increasingly digital world
2. The launch of the Monaco Health and Safety Plan: this new strategic initiative aimed at healthcare professionals, in partnership with the Ministry of Health and Social Affairs, is a truly innovative aspect of the Blue Fund’s second phase. This plan is specifically designed to tighten healthcare data security, a major issue in the digital age. This initiative marks a decisive step forward in ensuring public confidence and aims to strengthen the security of sensitive information while also boosting innovation in the healthcare sector

This new phase of the Blue Fund will continue to provide Monaco's businesses with support in their digital transition while strengthening the Principality's economic competitiveness in an ever-evolving digital world.

For further information, please visit:

• eme.gouv.mc
• monacosante.mc