MonacoTech, a “startup incubator” that supports innovation in Monaco, has signed a collaboration agreement with the international conglomerate Hinduja Group, owned by the British Asian Hinduja brothers, promoting exchanges and networking between start-ups and companies.

The agreement was signed by Lionel Galfré, Director of MonacoTech, and Monegasque company HGM – member of Hinduja, represented by Ajay Hinduja and Edouard Mousny.

The purpose is for the two structures to benefit from the strengths of the other, namely the very vast, international, multi-sectoral experience of the Hinduja group and the innovation and dynamism of the projects supported by Monaco Tech.

“MonacoTech start-ups have the ability to free themselves from routines and burdens by proposing either a technological innovation capable of reinventing the processes and business models of a market, or to reverse the market approach of a sector by providing concept innovation,” said the government-run business incubator in a press statement.

“They have the creativity, the dynamism and the breath of creation linked to their youth. These start-ups, on the other hand, very often suffer from a lack of funding, experience and knowledge of sectors, networks, support and relays internationally.

“Meanwhile, large companies, such as the Hinduja group, have expertise, know-how, financial resources and a particularly international network of great value and potentially very powerful.”

Courtesy:World Akkam