Bolstering the rise and development of global tech champions
French Tech is one of the world’s most vibrant technology ecosystems. At President Macron and the Prime Minister’s initiative, France is offering a growth-friendly environment for innovative companies. This is of crucial importance in terms of employment and of sovereignty and the challenge is now to increase the momentum. France is thus helping finance the fast-growing tech companies through unprecedented institutional support and is introducing specific support for French start-ups via the Next40 and French Tech 120 programmes.
French Tech now has seven unicorns (BlaBlaCar, Deezer, Doctolib, Ivalua, Meero,OVH and Veepee) as opposed to only three in 2018, but there remains a lot of room for growth. Amounts raised by startups have doubled between 2015 (€1.8 billion) and 2018 (€3.6 billion). It should be more than €5 billion this year.
However, France is still only the second-largest ecosystem in Europe trailing after the United Kingdom, although ahead of Germany. The European Union itself continues to lag behind its US and Chinese counterparts. For this reason, the French government has set a target of having more than 25 unicorns by 2025 to strengthen France’s position in Europe and to help it assert itself on the international stage.
In order to achieve this target, overcoming the restrictive factors that hinder the growth of French startups is a priority. These hurdles have to do mainly with funding, the regulatory and administrative environment and recruitment.
Four key initiatives are being launched by the government:
Unprecedented funding from private institutional investors from both France and abroad to fund the final stages of business developments
A special government programme tailor-made to boost our future tech champion. The Next40 is a selection of 40 startups with huge potential and the ambition of becoming world-class technology leaders. The French Tech 120 comprises the Next40 along with 80 other high-potential companies selected on a similar basis.
An extensive network of government startup correspondents to create a regulatory and administrative environment that helps companies grow.
Flagship initiatives to expand the talent pool available to our startups.
For further information, please download the press kit below.