Thousands of entrepreneurial competitions take place every year around the globe to promote innovation, business acumen and forward thinking. Many of these competitions differ in composition, and the motivations for pursuing each one of these vary. Incentives may range from achieving a monetary prize, to honing one’s skills and manifesting a creative idea. Yet, the ultimate gratification for any young entrepreneur is seeing their start-up business elevate from the ground. When it comes to luxury services, there is no better place than Monaco to witness your business plan take off!

With an area of just two square kilometers extending from the Mediterranean shore to the Maritime Alps, Monaco is one of the most successful economies in Europe. Its GDP is among the world’s highest and it has a zero percent rate of unemployment, allowing it to be a platform for global businesses with eminent success stories.

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The Monaco community may be small, but its network spans across the world. Out of its 32,000 inhabitants, 125 are of different nationalities, making it one of the most cosmopolitan nations on earth. The Principality is an international crossroad for the world’s leading talent.

32,000 inhabitants of 125 different nationalities

Over the years local organizations have formed, to foster new talent, professional networking and growth of small business. The International University of Monaco for example, hosts a yearly forum in March called the “The Next Generation of Entrepreneurs”. They bring together top, young, entrepreneurial talent from around the world, to pitch their business ideas and acquire insight from experienced entrepreneurs. Another organization that aims to build business relationships between major international companies and start-ups in the digital service sector is the Monaco Sophia Business Hub. They hold monthly events aimed to promote, educate, and unite Monaco’s business community to nurture a creative marketplace that will enhance our tech-based economy.

Monaco serves as an international platform for incubation of business ideas and concepts. Its residents and organizations provide young entrepreneurs with significant resources, which help them put their projects into action for yet another success story.