French Tech is a well-known term among those in the know when it comes to start-ups. Regularly, the media spotlight it and promote its dynamism. But what exactly is French Tech?
This includes all the people working in or for a French start-up around the world, in particular entrepreneurs, engineers, communicators, developers and research institutes. A start-up is a new, ambitious company with an innovative entrepreneurial project.
Today, the term "disruption" is used to describe their challenge to the traditional economic system. Their business model is based in whole or in part on digital technology.
In late 2013, the government created the "French Tech initiative" to support their growth and create new jobs
In 2019, it's a veritable ecosystem of over 10,000 start-ups in France , with growth of over 30% every year for the past 4 years.
More than 2.5 billion euros were raised to finance their development in France in 2017, and in September 2019 more than 340 million euros have been raised to accelerate the development of French start-ups.
The start-ups and the government intend to go further and pursue their ambitions.
Since 2013, France has been able to take advantage of the "start-up culture" around stakeholder engagement.
Let's be clear: the French Touch's ambition is to become Europe's benchmark start-up ecosystem.
Entrepreneurs work hand in hand with the government to foster the emergence of international leaders.
Firstly, French Tech wants to give special support to "deep tech" players , companies basing their growth model on a significant proportion of technological capital.
More often than not, they are at the forefront of disruptive innovation. The French government has decided to commit 70 million euros to support them in 2018, in particular through the Innovation Council.
Because there is no start-up without startuppers, hiring new talent is a priority for young entrepreneurs.
More often than not in the service sector, recruitment represents the bulk of their added value.
The "French Tech Visa" program is designed to attract foreign engineers, developers and entrepreneurs.
Finally, the creation of the "Next 40" stock market index listing the 40 most promising start-ups is due to be launched in the last quarter of 2018.
The "French Tech 2022" program is a government initiative with the aim of continuing to support startups towards more growth in the medium term.
It promotes the dynamism of French start-ups, their role in the economy and job creation.
Scalability is at the heart of everything we do to create a truly competitive international environment.
On a local scale, the French government has awarded 13 "Métropoles French Tech" labels across metropolitan France.
They are linked to several national and foreign economic hubs. However, these metropolises are still very dependent financially, and their existence depends mainly on support from the public authorities.
Finally, the French Tech pass is a program designed for hyper-growth start-ups to accelerate their international deployment. Supported by a number of major organizations(BPI France, Business France, INPI, etc.), it simplifies their administrative procedures.
The government and startups are also keen to develop support grant programs.
The French Tech stock exchange and the French Tech Accélération fund should continue to grow.
Supported by start-up gas pedals, the results to date have been fairly positive. However, the amount of aid granted and public funding sometimes remains insufficient to enable certain projects to truly emerge.
This new page in the history of French Tech will be written alongside Kat Borlongan, the new director of Mission French Tech. She will work in collaboration with Mounir Mahjoubi, Secretary of State for Digital Affairs.
"It's up to you!" is the credo of French start-ups!
Create a brand and an innovative project, surround yourself with the best talent, invest your strengths alongside a French Tech Metropolis and become an active ambassador for the French startup ecosystem in France and internationally!
Written by our expert Paul LASBARRERES-CANDAU
December 10, 2019
