France wants Europe to have 10 IT company giants by 2030

  • The goals are part of a Europe-wide initiative France is trying to lead to improve funding for start-ups, especially in their later stages of growth
  • President Emmanuel Macron has pushed to make France into a "start-up nation" since coming to power in 2017

 

French President Emmanuel Macron on Tuesday outlined an ambitious push for Europe to create 10 technology giants worth 100 billion euros ($121.26 billion) each in valuation by 2030, in a bid to rival U.S. companies that dominate the sector.

The goals are part of a Europe-wide initiative France is trying to lead to improve funding for start-ups, especially in their later stages of growth, to propel them into a bigger league where they can attract more investors and top staff.

 

Macron has pushed to make France into a "start-up nation" since coming to power in 2017, rendering the country more attractive to foreign investors through labour reforms for example.

French efforts to create "unicorns", or companies worth at least $1 billion, are still overshadowed by U.S. equivalents, however. Macron said last year he expected France to have 25 "unicorns" by 2025.

 

Source: France wants Europe to have 10 IT company giants by 2030 (livemint.com)

 

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