We've been tracking these developments for the last half-decade*, some links after the jump.
From AltFi, June 13:
Brexit didn’t quite lure financial startups away from London but France’s status as a fintech hub is growing.
....MUCH MOREFrom just three unicorns in 2017 to more than 25 now, France’s startups have come a long way, with president Emmanuel Macron largely credited with kickstarting the lagging ecosystem.
And although founders agree that the French president, elected in 2017, accelerated the growth of the market, the country’s transformation into a startup hub started long before.
“The tech ecosystem has dramatically changed. It started a bit earlier I think in 2013, especially under the ministry of Fleur Pellerin [who launched the French Tech label],” said Geoffroy Guigou, co-founder at instant credit provider Younited.
Younited is one of 10 French fintech unicorns.
The French Tech Mission was created to provide support for the development and growth of the startup ecosystem in the country and is a part of the Ministry for the Economy, Finance and the Recovery. It now has a network of 13 hubs internationally, with 108 community satellites located 45 French cities and territories, as well as 63 foreign cities.
While the seeds of the startup boom were sown before 2017, all founders AltFi spoke to agree that Macron’s business friendly attitude helped create an environment where innovation could thrive, a lot faster.
The amount of capital invested in French startups has risen from €2.5bn in 2017 to €10.8bn in 2021, according to PitchBook data....
*December 2018:
France: "For Emmanuel Macron, AI is more than a technological revolution. It is a political revolution of hope in an increasingly dystopian future"
...Ahead of and during the tour Reuters had a couple headlines, amusing in juxtaposition:
Also on the FrenchTech channel:
"French government officials advocate for a €500m investment in blockchain technology"
The country might be better served adding to the €1.5 billion that
President Macron has pledged for research in Artificial Intelligence.
But I might be biased.
"The Race is On for European AI Research"
Profit From The Global Riot Control Industry
"The Top-10 French Artificial Intelligence Startups"
The Creator of the iPod and the iPhone Seeks to Dethrone Tech’s Giants
It’s a crisp January morning in Paris’s 13th Arrondissement, and
outside Station F, the former freight terminal that is the epicenter of
France’s startup scene, twentysomethings climb out of cars hailed using
iPhone apps.
Tony Fadell’s Next Act? Taking on Silicon Valley—From Paris
2019
"Station F: A symbol of France's startup ambitions"
"Going private: France makes sacrifices for its startup nation"
Q&A with M. Macron's New Digital Minister, Cédric O, on Tech in France
And many, many more. Use the 'search blog' box upper left, if interested.
