These are the most promising French startups according to the French government

Published February 8, 2021

The French government and the government-backed initiative La French Tech unveiled the new indexes that identify the most promising French startups. The 40 top-performing startups are called the Next40, and the top 120 startups are grouped into the French Tech 120.

The Next40 and French Tech 120 are somewhat new as this is only the second version of those indexes. Out of the 120 startups that were in last year’s French Tech 120, 90 of them are still in this year’s index — 30 are newcomers as there were 123 startups in last year’s French Tech 120.

Combined, they generate close to €9 billion in revenue and provide a job to 37,500 people. Revenue in particular is up 55% compared to last year’s French Tech 120.

Here’s a list of the French Tech 120 — the red logos are part of the Next40:

Image Credits: La French Tech

There are two ways to get accepted in the Next40:

You have raised more than €100 million over the past three years ($120 million at today’s rate) or you are a unicorn, which means your company’s valuation has reached $1 billion or more.
You generate more than €5 million in revenue with a year-over-year growth rate of 30% or more for the past three years.

As for the remaining 80 startups in the French Tech 120:

40 of them have raised more than €20 million in a funding round over the past three years.
40 of them are selected based on the annual turnover and growth rate.

Of course, those indexes are limited to private French companies. For the French Tech 120, there are at least two startups per administrative region.

Based on those metrics, only a handful of the startups in the French Tech 120 have a female CEO and the French government thinks tech startups should do more when it comes to diversity and inclusion. That’s why a small group of people are going to work on a roadmap and some recommendations to improve those numbers.

Representatives of six different startups in the French Tech 120, as well as people from Sista, Tech Your Place and Future Positive Capital, will get together to work on those topics.

In addition to a cool logo for your website, being part of the French Tech 120 comes with some perks. Those companies can access a network of French Tech representatives in different public administrations.

For instance, it’s easier for your company if you want to get visas for foreign employees, obtain a certification or a patent, if you want to sell your product to a public administration, etc.

There are two new additions to the French Tech network. Someone from the Conseil d’État can help you when it comes to legal compliance. The government has also signed a partnership with Euronext to educate entrepreneurs about going public.

Macron announces €5 billion late-stage investment pledge from institutional investors

France overhauls its special visa for tech talent

Published March 5, 2019

The French government has unveiled a complete overhaul of the French Tech Visa for employees working for a tech company. And France is taking a contrarian stance by making it easier to come work in France.

Let’s start with the big number. According to French Tech Mission director Kat Borlongan, there are more than 10,000 startups that meet the requirements to access the French Tech Visa and hire foreign employees more easily. (And if you live in the European Union, you don’t need a visa, of course.)

I asked Borlongan why it was important to overhaul the French Tech Visa. “Because our startups needed it,” she told me. “There are two dimensions to that. There’s the economic supply-demand part — all the high-growth startups we interviewed pretty unanimously said that hiring was their number one priority and that they were looking for profiles that weren’t readily available in France.”

“The second is cultural. As strong an ecosystem as the French Tech is becoming, it’s still perceived as overwhelmingly French. To succeed globally, we need to become global ourselves, in terms of team composition, mindset, markets, etc.”

Unlike many American visas, you don’t need to prove that you’ve been looking for candidates in France. You don’t need to pay crazy-high immigration lawyer fees — the French Tech Visa costs €368 in administrative fees. Future employees don’t need to meet any diploma requirement.

The previous version of the visa was limited to roughly 100 companies that were selected as part of the Pass French Tech program. Employees also had to graduate with a master’s degree. So it’s a huge change.

And it’s a pretty sweet deal for foreign employees as well. Your visa is valid for four years and renewable after that. You don’t have to stay in the same company — you can work for another company and keep your visa. Your family also gets visas so they can come with you.

If your startup has raised money from a VC fund, has been part of an accelerator, has received state funding or has the JEI status, then you’re eligible.

La French Tech and the French government have created various lists of VC funds, accelerators, grants, etc. If you meet one of those conditions, you can apply to the visa program. You’ll find most VC funds and accelerators based in France (but not all of them), as well as a few foreign companies (Y Combinator, 500 Startups, Techstars, Entrepreneur First, Plug and Play, Startupbootcamp). Those lists will be updated multiple times per year.

Startups that want to take advantage of the French Tech Visa need to complete an online form first — the full list of VC funds and accelerators is embedded in the form. Future employees can then get their visa from their home country at the French Consulate.

The French tech ecosystem has been growing rapidly. And many French startups have chosen to work in English and hire foreign talent. Tech talent is becoming a global talent pool, so this visa scheme is essential for the future of the French tech ecosystem.

Emmanuel Macron meets with the French tech community

Published October 9, 2018

French President Emmanuel Macron came to France’s ginormous startup campus Station F to talk to the French tech community. The event is organized by La French Tech, the government initiative to promote and foster the startup community in France.

Station F director Roxanne Varza first took the stage to introduce the event. She announced that there will be more startups in the Fighters Program. Station F has created this program so that entrepreneurs from diverse backgrounds get a chance to relocate to Station F.

La French Tech new director Kat Borlongan then talked for a few minutes about the public initiative. “My firm belief is that La French Tech should operate just like all the startups in this room today,” she said.

According to her, it means that La French Tech should think about its users first, have a data-driven approach, and test and iterate.

Macron gave a very short speech and then held a Q&A sessions with tech entrepreneurs. This is a surprising format for Macron.

He mostly reassured entrepreneurs that things are changing and France is on the right path. He announced that the French Tech Visa would be simplified by March 2019.

Some entrepreneurs said there were paying too many taxes to hire talent in France. Macron refuted that. “I like to compare a researcher in Harvard with a researcher in France,” he said. “[In France], school is free and excellent, healthcare is free, there’s a retirement system. On the other side, there’s nothing.”

He also promised stronger antitrust rules at the European level. Tech giants sometimes dominate in Europe living no room for competition.

Macron finished by saying that tech companies also need to promote France’s system. They need to pay fair taxes, they need to think about tech’s effect on society. “I know one thing, the system will implode if you’re not responsible enough,” he said.

Things have changed in just over a year. When Macron first came to Station F for its grand opening, it was shortly after the elections. He was a popular President.

Now, most people dislike him, just like his predecessors François Hollande and Nicolas Sarkozy when they were in office. According to a source, he even thought about canceling today’s event given that he’s about to appoint some new faces in his government.

But Macron built his reputation on the so-called startup nation. He first became a public figure thanks to a grassroots approach built on top of the startup community. That’s why the startup community is still overwhelmingly in favor of Macron’s policies. And yet, there’s now a clear divide between the startup nation and the middle class at large, who think the President is out of touch and doesn’t care about them.

French startups are back again at CES

Published January 5, 2017

French Tech Las Vegas CES Somehow, I can never find a direct flight from Paris to Las Vegas. This year, even though I had to make a stop in London, my transatlantic flight was filled with French entrepreneurs going to CES, ready to show their latest and greatest products to an international audience. I already wrote that French startups were taking over CES last year, but it’s worth using this opportunity to… Read More