Mr Jean Castellini, Minister of Finance and the Economy – chaired the first meeting for the allocation of offices and workspaces of the Monaco Boost program.

Mr Stéphane Valeri, President of the National Council, also too part. A number of applications for the Monegasque business incubator were examined. Forty-eight percent of businesses are in the process of being created and 52 percent of young companies are in development.

The enterprises cover a wide variety of sectors and one motivation for new businesses is to be able to utilise physical offices to recruit staff.

The selected entrepreneurs can look forward to taking up their spaces as soon as next month.

In its press release the Government said that Monaco Boost is realising its role as a springboard for start-ups and is an integral part of the Principality’s economic recovery.

FILE PHOTO: Monaco Boost sees the light of day in January