January 2021 was the scene of a first in the Principality. Until now, a public institute had never acquired a stake in a private company. Has the Monaco Scientific Center (CSM) broken the lock and perhaps opened the way for others ? The future will tell. But when the CSM agreed to enter the capital of the start-up Coraliotech, there was a sort of legal uncertainty. “It has not been an easy journey. It needed a lot of discussion to see if it was possible or not” says Rachid Benchaouir, founder and CEO of the young company. Long weeks of consultation, with the involvement of “government lawyers”. Once the legal validation was received, the process followed. “All the steps had to be validated by the Board of Directors of the CSM and by the supervisory authority. That’s how we all met on January 11th of this year to officially record this entry into the capital.”
Click here to read the full article and watch the full interview (in French) of Monaco Info below.
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