The Blue Fund is designed to co-finance digital projects by Monegasque companies. It can finance up to 70% of the pre-tax amount of the budget submitted for accepted projects.
Understanding the process
The Blue Fund, part of the Extended Monaco for Businesses program, aims to support economic development through digital technology
The goal is to boost the integration of digital technology. This aim encourages the use of digital technologies to drive growth and strengthen business competitiveness.
Based on the principle of co-financing, the Blue Fund supports digital projects for up to 70% of their pre-tax value, giving priority to high value-added structuring projects that promote the operational efficiency, productivity, and competitiveness of businesses (cloud, cybersecurity, compliance obligations, digitisation of internal processes, integration of data/ AI, etc.), excluding contributing to the financing of any project focused on Cloud Computing.
Blue Fund applicants agree to strictly adhere to the Blue Fund Terms and Conditions to ensure the smooth management and effectiveness of the project. You can find full details about these conditions by clicking here.
For further information, please contact the Blue Fund team at fondsbleu@gouv.mc or by telephone on +377 98 98 96 55
Our team will be happy to answer any queries and to support you with your co-financing application.
In addition to the Extended Monaco for Businesses program, a scheme dedicated to the Health sector is also being implemented:
- Monaco Sante Sécurité, a joint initiative between the Ministry of Health and Social Affairs and the Interministerial Delegation for Digital Transition, focuses on the safety and sovereignty of health data
For more information, please visit: monacosante.mc
Once you have read the Blue Fund Terms and Conditions, go to the Digital Maturity Assessment section.
Please note: when submitting your application, you will be asked to provide the questionnaire, which must be dated within the last month.
To complete the questionnaire, the company must have an Extended Monaco for Businesses account. Create an account here.
Applications must be submitted in French or in english
Once you have created an account on the Extended Monaco for Businesses platform you will need to collate the following documents:
- The result of your digital maturity self-assessment questionnaire (dated within the last month)
- Complete and current details (RIB) of an active bank account in the Principality belonging to the Project Leader
- Proof of financial viability: the project Leader’s latest balance sheet, and for companies that have been in business for less than 12 months, submit proof of financial viability (source of funding, bank certificate, account statement or proof of financial commitments from partners, etc.). As part of the funding application, applicant companies or entities must demonstrate their financial ability to support the project to the extent of 70% of its total value. This condition is intended to guarantee the financial stability of the Project Leader and to ensure the effective implementation of the Project
- A detailed business plan making the case for the Project and setting out:
- Introduction: presentation of the Project and its objectives
- The background: description of the Project context
- Issues: identification of the issues and problems to which the Project responds
- Proposed solutions: presentation of the technological solutions envisaged and how they meet the required needs
- Advantages and benefits: highlight the advantages and benefits the company expects to gain from implementing the Project
- Action plan: a description of the key stages in implementing the Project and the maintenance plan
- Study of the Project's economic impact (including indicators and targets for measuring added value)
- Conclusion: a summary of the main points and a call to action
Please note: to ensure the success of your digital project, it's essential to implement a clear methodology. In collaboration with your chosen Digital Technology Professional, we recommend using our templates (available here), to develop a solid strategy, define clear objectives, identify needs, and plan the key stages of your digital Project. This rigorous approach will help you to prepare an application for co-financing from the Blue Fund, thereby increasing your chances of success. Feel free to use and customise the downloadable template below according to your specific needs.
- If the Project has not yet been completed:
- Detailed quotes*, dated within the last month, issued by Monegasque Digital Technology Professionals (with duly justified exceptions), and signed by the project Leader
- If the Project has already been completed:
- Detailed invoices, issued by Monegasque Digital Technology Professionals (with duly justified exceptions) and proof of the Project's completion (payment receipt and certificate of completion)
- If applicable, VAT returns covering the two months immediately preceding the application. Any VAT return that does not correspond to this specific period will be considered ineligible and will result in the application for funding being rejected. If you submit your returns quarterly, please provide the most recent
Document formats and size:
- Each document submitted must be no larger than 10 MB
- Only the following formats are accepted: .doc, .docx, .rtf, .pdf, .jpg, .jpeg, .png or .tif
The online service is strongly recommended.
Please ensure that all supporting documents, listed in the step 2, are collated and submitted with your application.
To ensure the smooth management and effectiveness of the project, we urge you to adhere to the Terms and Conditions and the procedure.
or further information or any queries, please contact the Blue Fund team at: fondsbleu@gouv.mc or by telephone on +377 98 98 96 55.
Our team will be happy to answer any queries and to support you.
Once you have all the supporting documents, you can submit your application for assistance from the Blue Fund by the special online service via the link below.
Please note: you will receive an email informing you of the response to your application. You can also track the status of your application in your MonGuichet space.
For those unable to use the dedicated online service, applications for assistance from the Blue Fund can be made via post by sending all the required documents to the following address:
DIRECTION DES SERVICES NUMERIQUES
À l'attention du Service Fonds Bleu
2, rue du Gabian
Immeuble les Industries
MC 98014 MONACO CEDEX
Please note: you will receive an email informing you of the response to your application.
Files submitted to the Blue Fund are subject to specific processing times:
- Once a complete application has been received and accepted, processing generally takes 8 to 10 weeks
- A further month is required for Project arbitration
- The total processing time is therefore three months from receipt of a complete and accepted application
Incomplete applications cannot be processed
The application processing team will contact the Project Leaders concerned for any clarification or additional information required.
If necessary, additional supporting documents will be requested by email. You will then have 30 days from the request for additional information to send these supporting documents via the online service (or by post if the request was made by post).
Once this deadline has passed, your application will be deemed to have "expired".
In order to release the first payment:
The purchase orders (aligned with the quote) must be sent by email (fondsbleu@gouv.mc), within one month of the application being approved.
After this deadline, the application will expire. It is therefore essential to forward the signed purchase order(s) (or invoice(s) if the Project has been completed), which will serve as proof of the commitment between the project Leader and the Digital Technology Professional, secure the Digital Technology Professional's obligation to deliver, and define the start and end dates of the Project.
The invoices corresponding to the purchase orders and the proof of completion by email (proof of payment of the invoice by the Digital Technology Professional and certificate of completion) must be sent by email - within one month following their receipt by the project Leader.
If there is a delay in finalising the Project or if the Project is amended or cancelled, the Blue Fund team must be notified
All required documents must be included in a clear and complete manner, quoting the application reference number to facilitate the processing.
The application processing team will contact the project leaders concerned for any clarification or additional information required, if necessary.
These arrangements ensure that projects are financed fairly and efficiently and that the allocated funds are well managed.
Payments are managed by the Public Treasury of Prince's Government and are expected to be made within approximately two months from when the Blue Fund team receives and accepts the supporting documents.