At the helm of MonacoTech since June 2023, Sandrine Sauval is breathing new life into the Monegasque incubator. In this interview, she talks about the challenges facing start-ups, the need for strategic funding and the flagship partnership with Start Up Connections, which is opening up new prospects for innovative young companies in the Principality.
A few words about your career?
I started my career in consulting at IBM, then at BNP Paribas, where I worked on complex banking transformation projects. These experiences taught me how to structure strategic approaches and manage teams in demanding environments. I joined the MonacoTech incubator in 2022 as deputy director. Today, I'm fully committed to developing Monaco's entrepreneurial ecosystem through MonacoTech, which stands out for its tailor-made support and international ambitions.
Is fundraising a key issue for the start-ups you incubate?
It's a fundamental lever for accelerating the growth of Monegasque start-ups. It's thanks to this funding that they can innovate, recruit talent, access new markets and, in some cases, simply turn a promising idea into a viable product. This need is particularly acute for Deep Tech projects, which often require significant investment in research and development before generating revenue. At MonacoTech, start-ups in incubation generally need early-stage financing, with amounts ranging from €300,000 to €2 million.
What practical support do you give start-ups in their search for funding?
We have launched a specific support programme to structure fund-raising. This programme is designed to meet the specific needs of start-ups, focusing on three key aspects:
- Structuring the approach: We help entrepreneurs to clarify their strategy and define their financing needs realistically.
- Document preparation: The quality of presentation materials is crucial. From pitch deck to business plan, we work with start-ups to ensure that their documents are hard-hitting and tailored to investors' expectations.
- Matchmaking: We facilitate access to a network of qualified investors, including business angels, venture capital funds and family offices.
What role does public funding play in this process?
It's a major support. We work closely with the Monegasque government to activate the appropriate mechanisms at each stage of development, whether it's to validate the technological feasibility of a project, develop a product or promote its marketing, including internationally. This support maximises the chances of success for incubated start-ups.
What does the partnership with Start Up Connections involve?
Integrating MonacoTech into Indosuez's StartUp Connections scheme is an initiative born of our collaboration with CFM Indosuez Wealth Management. The aim is to strengthen Monaco's entrepreneurial ecosystem by offering MonacoTech start-ups privileged access to this network of qualified investors. In practical terms, the platform enables start-ups to present their projects and funding requirements in a secure and professional environment. Interested investors can then ask to be put in touch with the entrepreneurs.
What are the conditions for accessing the platform?
Our priority is to target start-ups actively seeking funding. Not all MonacoTech start-ups automatically join Start Up Connections. An additional selection is made, in collaboration with CFM Indosuez, based on precise criteria: market potential, relevance of the innovation, maturity of the project and solidity of the founding team. This process ensures that the projects presented are sufficiently mature and well-prepared to meet investors' expectations. The aim is to create a virtuous circle: start-ups that are successfully financed attract more investors and more promising projects, reinforcing the dynamism and attractiveness of Monaco's ecosystem.
What has MonacoTech achieved since its creation?
Since 2017, MonacoTech has hosted 59 projects, 27 of which are now operating companies. These start-ups have generated 150 jobs, around half of which are in Monaco. This record demonstrates our impact on the local economy. We focus on innovative technological projects in sectors such as biotech, blue/greentech, medtech and fintech, which help to strengthen the Principality's economic fabric.
What are your ambitions for the future?
Our ambition is to be a springboard for growth for the companies and technologies of tomorrow, those that will transform our society and shape a sustainable future, while creating jobs and strengthening Monaco's appeal as a hub of innovation excellence.
Our aim is to position MonacoTech as a key player in our strategic sectors and, as part of this drive, we are continuing to develop our networks and relationships with our partners (companies, manufacturers, investors) to increase growth and funding opportunities for our start-ups.
