By: Eric Althaus
March 8th, 2021

The “Mark Challenge” is a business plan competition powered by the International University of Monaco (IUM) that connects students, alumni, academic professionals, and business leaders from all over the world. Located in the Principality of Monaco, because of its strong focus around the business environment and the aim to develop successful and thoughtful leaders and entrepreneurs, the Mark Challenge aims to motivate powerful individuals to develop the business concept of their dreams, with the help of experts in the sector and with the assessment of a competent and international jury.

This motivating projects requires the participants to have an innovative business idea in the premium or luxury product or service field, be fluent in the English language, and have a passionate entrepreneurial spirit with the right capabilities to demonstrate a sustainable business model with a social or environmental impact.

This year, besides the annual Mark Challenge, different yachting partnerships have been made to enhance this sector in Monaco. Known as the European capital of yachting, Monaco, with the help of IUM, Onboard (consultancy firm based in Monaco), Yachting Ventures (10-week accelerator programme for the next generation of yachting entrepreneurs), and YPY (Young Professionals of Yachting), focuses on promoting the yachting world at an international level.

The prices for the winning team are valued over € 12,000 and sponsored by Relevance Digital, Suisse Monaco, and Networking For Leaders.

Additionally, a jury comprising members of the Monaco Yachting Cluster will award a Special Yachting Award to the best innovative project in Yachting. Winners of this award will receive prizes from the Monaco Yachting Cluster and YPY Monaco.

As Althaus Luxury Yachting we are proud of what the Principality of Monaco is doing for the young and motivated individuals who are keen and passionate to enter the yachting sphere. Our company annually welcomes a passionate student aiming to pursue his internship and acquire strong yachting knowledge and experience.


Eric Althaus