In recent years, the French startup ecosystem has enjoyed incredible momentum, driven by a new generation of entrepreneurs, investors, engineers, designers and many other talented individuals. France has been called a new “Startup Republic”, dotted with thriving hubs and talent that are vehicles for a robust entrepreneurial mindset.
This domestic momentum has a name – “French Tech” – and French startups are rallying around this emblematic moniker. The ecosystem is developing very quickly and there is no doubt that France has now reached a tipping point.
This can be easily seen in Paris with its numerous innovation stakeholders, and where a strong political will acts as a driving force. The city is quite simply bubbling with activity, with over 40 business incubators, 80 coworking spaces, 20 fab labs, close from 1,500 startups being set up annually, and a growing number of success stories. Today, there is an exceptionally strong impetus in Paris and this has been acknowledged and heralded by international rankings.
For example, it is the world’s leading city for intellectual capital and innovation (PwC Cities of Opportunity, May 2014) and it is now the leader in Europe for the vibrancy of its innovation market as regards the amount of fundraising and number of transactions. Lastly, it appears in the top six world tech cities (CB Insights, “The Next Silicon Valley”, November 2014).