Historically, France has represented the crème de la crème in art, architecture, culture and cuisine. The country can also claim soccer as an area of skill and expertise. But perhaps lesser known is that France is also an epicenter of technology and innovation.
At CES 2018, France was the most represented country other than the U.S. Out of the 800 startups in attendance, 274 were from France, bringing the latest in everything from smart cars to AI and robotics. This spirit of advancement, combined with steady economic growth and flexibility, is what is driving France to become the next international tech hub.
Synonymous with the tech industry, Silicon Valley is a nearly $3 trillion neighborhood thanks to companies like Apple, Google and Facebook. It’s the heart of America’s high-performing tech sector and home to many cutting-edge research labs and enterprises. For the past several decades, the Northern California region has been the planet’s go-to tech destination—where the world’s brightest minds set up shop to build something great.
But across the Atlantic, an ideal mix of opportunity, talent and resources is brewing.
Global and local tech funding
Last year, France hit a 10-year high in foreign investments, fueled by high expectations for more business-friendly policies under President Emmanuel Macron. In the first half of 2017, venture capital investments grew by 18 percent to $1.5 billion. In January, the world’s biggest tech companies announced $4.1 billion in new investments and the creation of at least 2,200 jobs over the next five years.
Right now, there are over 9,400 startups in France, and startup funding is on the rise, driven by a record number of deals and dollars in 2017, upwards of 743 deals (up 45 percent year-over-year) and $3 billion (an increase of 49 percent YoY) compared to 2016. That’s a lot of money fueling a lot of new ideas.
For his part, President Macron has a vision of France as the next global tech hub. He wants the country “to be a start-up nation,” as he told attendees at VivaTech, an entrepreneurial conference in Paris last June. “A nation that thinks and moves like a start-up.”
Paris tech hubs
France is home to 450 incubators and accelerators, including two of its most well-known: Station F and Partech Shaker. These campuses offer incredible working spaces, and many opportunities for networking and mentorship.
Station F is the world’s largest startup hub, with the capacity to house up to 1,000 startups across 3,000 desks and 36,000 square feet of space. It’s located in a former railway shed, complete with Jeff Koons sculptures in the lobby, in the 13th arrondissement in southeast Paris.
Designed to encourage a new generation of entrepreneurs, startups that take residence there are all part of accelerator programs run by corporate partners like Zendesk and Vente Privee.
Attracting world-class talent
The nation is actively trying to attract startup founders, employees, and investors to the country through a combination of mentorships, grants, and subsidized work spaces. Through initiatives like the French Tech Visa, which fast tracks a process for participants to obtain a renewable four-year residence permit, France is already bringing in top tech talent from all over the world.
Looking beyond Silicon Valley
What makes Silicon Valley so successful and unique is that it supports a vivid ecosystem of tech companies big and small, new and established. Together, they share ideas, resources, talents, and values, nurturing each other to realize their visions.
Today France is entering into this “virtuous circle model” with established tech players ready to contribute to the overall success of the ecosystem.
So, while Silicon Valley will always be a foundation for the tech community, France–with major backing from the president himself–is positioned to become a new pillar of innovation and entrepreneurial activity.
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JB Rudelle founded Criteo in 2005 and has driven its growth into a truly global organization with technology as its heart beat and its clients as its focus. Having transitioned his role from CEO to executive chairman in 2016, JB returned to the role of CEO in April 2018. A serial entrepreneur, in addition to a number of start-ups, JB also founded The Galion Project, a non-profit think tank that helps other entrepreneurs to grow faster.
