Financing Innovation: Monaco joins Horizon Europe Meeting in Brussels

Two representatives from Monaco will be travelling to Brussels on 6 July to discuss the much-anticipated ‘Horizon Europe’ program, a European Union program for the financing of research and innovation. Stéphan Bruno, Director of Economic Expansion and François-Xavier Le Clerc, Head of Financing and Development for the Economy will join the meeting with the European Commission.

Several months ago, the Prince’s Government met with the Directorate-General for Research and Innovation, which is responsible for the EU’s policy on research, science and innovation, making it now possible for companies and entities in the Principality to participate in calls for Research and Development launched under the Horizon Europe program.

This means that eligible Monegasque companies can now participate in collaborative Research and Development projects thanks to co-financing between the Principality of Monaco and the European Commission.

Following a study aimed at determining the potential of Monegasque companies to respond to calls for research and development projects from the European Commission and to identify interest in themes common to Monaco and Europe, the Princely Government has chosen the following four themes: Energy, Health, Bioeconomy and Digital.

“This new system complements the development and innovation support tools for Monegasque companies and will help the dynamism and economic influence of the Principality,” states the Princely Government’s website.

The upcoming meeting in Brussels will be an opportunity to present and commence the pre-validation process for projects by the Department of Economic Expansion and to finalize the process of implementing the system.

What exactly is Horizon Europe?

Horizon Europe is the EU’s key funding programme for research and innovation with a budget of €95.5 billion. It tackles climate change, helps to achieve the UN’s Sustainable Development Goals and boosts the EU’s competitiveness and growth.

According to the European Commission’s website, Horizon Europe “creates jobs, fully engages the EU’s talent pool, boosts economic growth, promotes industrial competitiveness and optimizes investment impact within a strengthened European Research Area.”