GlobalTech International, an incubator based in Monaco, has raised 2m euros from undisclosed backers to fund Internet-related start-ups. At present GlobalTech, which specialises in early stage investments and management consulting, has only PlanetEuro.com in its portfolio, which is a B2B trading site based in Monte Carlo.
GlobalTech was founded by its CEO Thomas Bonetti and is based in Monte Carlo. Bonetti, who spent more than 20 years in Silicon Valley building up PC businesses and was previously managing director of US telecommunications company Atlantic, set up the incubator after working in Monaco advising the principality on its telecommunications systems. The company claims that Monaco is a beneficial location to run a business from and not only from a financial perspective. Bonetti said: 'From Sophia Antipolis in France to Monte Carlo in Monaco, this region which we affectionately call Silicon Riviera, is booming with high technology opportunities.'
GlobalTech intends to continue raising funds, but according to Simon Akeroyd, the company’s head of finance, the key to the company's success is a mix of money and ability. Akeroyd said: 'Our plans call for us to invest not only our money but, more importantly, our experience.'
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