The French Tech momentum

Launched in 2019 by French President Macron, the French Tech Next40/120 programme supports the most successful French start-ups to help them become world-class technology leaders. This programme echoes the objectives of the France 2030 plan, which aims in particular to support emerging players “to use innovation to face France’s challenges of today and tomorrow”.

A three-point strategy

At the event La rentrée de la French Tech held in November 2021, the Minister for Digital Transition specified the new areas of development of the government’s strategy to support French start-ups.

French Tech is thus “the ecosystem of French start-ups and all those that make it up, from biosciences to marketplaces, wherever they are in the world”. The government is applying this strategy according to three aspects:

- The French Tech first aims at massively increasing the number of start-ups supported over the next few years and all over the country, in sectors of the future such as greentech, health and food;

- This strategy must also improve the support directed to the most innovative start-ups, particularly in deeptech, and their ability to industrialise;

- Finally, the government wants to deploy a follow-up of French start-ups in their international development, and particularly in Europe. This strategy, the Minister explained, is part of the Scale-up Europe initiative, “"with the aim of federating and supporting European start-ups” in order to bring about the emergence of “European technological champions”, particularly in the digital field.

The French Tech gains momenum

It is in this spirit that the French Tech Next40/120 ranking was created. The ranking also illustrates, in this year’s promotion, “the acceleration of French Tech”. And the Minister emphasises the fact that “even though the renewal rate is almost identical to that of the previous year, the entry level is higher” insofar as the fundraising and turnover of these start-ups have increased considerably[1].

In economic terms, companies in this new class plan to create 19,000 new jobs in France and in their subsidiaries abroad. This objective “represents almost double the forecast of last year’s selection and reflects the continued acceleration of our ecosystem, all over France”.

In addition, many of the start-ups listed in the French Tech Next40/120 “offer solutions that are part of the everyday life of the French”. Indeed, the share of French people using innovations from the French Tech Next40/120 is growing sharply. The press release published during this promotion that details this growth shows that the French “were 53% in February and are now 62% to use the services of the French Tech Next40/120 at least once a month, in industries as diverse as health (Doctolib, Lifen, Alan), phone tech and IT (Backmarket, Recommerce, Certideal), music (Deezer, Devialet), training (Openclassrooms, 360Learning, Ornikar) and mobility (Blablacar, Heetch)”. 

A plus for the selected companies

As the press kit also points out, companies selected as part of the French Tech Next40/120 programme have access to a tailor-made support package:

- a dedicated start-up account manager in charge of an exclusive contact with the company;

- Improved visibility through communication operations and a presence in official delegations in France and abroad;

- a specific range of services, thanks to 60 partner administrations that are committed to simplifying and accelerating public services (funding, international development, recruitment, intellectual property);

- access to a community of high-potential companies, with experience sharing between entrepreneurs.

To know more:

- the French Tech government strategy for supporting start-ups:

https://www.economie.gouv.fr/french-tech-gouvernement-devoile-nouvelle-strategie-accompagnement-startup

- the 2022 class of the French Tech Next40/120 ranking:

https://presse.economie.gouv.fr/01-02-2022-1964-cedric-o-devoile-la-promotion-2022-du-classement-french-tech-next40-120/

[1] According to the French Ministry of the Economy, the lowest fundraising in the Next40 has increased from €22M in 2021 to €49.6M in 2022; the lowest fundraising for the 40 start-ups selected on this criterion in the FT120 has increased from €23M in 2021 to more than €30M in 2022 and the lowest turnover in the FT120 has increased from €14M in 2021 to €18.7M.

Photo credit: https://lafrenchtech.com/fr/la-france-aide-les-startups/french-tech-120-2/