French Tech Rise: a government initiative to support the financing of start-ups in the region

While the French Tech Tremplinprogram will receive ten million euros in additional investment, the Secretary of State for Digital Transition and Electronic Communications, Cedric O, announced the launch of French Tech Rise.In partnership with Bpifrance,this initiative aims to support the financing of regional start-ups. The government thus intends to boost territorial ecosystems.

A French government initiative to help start-ups get financed

In order to promote the dynamism of territorial ecosystems and to allow start-ups from all regions of France to benefit from potential financing from one of the largest venture capital funds in France, the French government is launching the French Tech Rise project.

It was the Secretary of State for Digital Transition and Electronic Communications, Cedric O, who announced its launch, mentioning in his remarks, all the interest of the French Tech project for the French economy:

“French Tech is going to be a pillar of the French economic recovery. Not only do our start-ups contribute to making us more competitive technologically, but they also strengthen our economic sovereignty day after day, by creating jobs at all skill levels throughout the country. The Government has made the development of territorial tech ecosystems one of its priorities. With Bruno Le Maire, we have, for example, launched Community Fund, which has already supported nearly 130 projects from French Tech Capitals and Communities.”

Start-ups will be selected according to several criteria

With the help of Bpifrance, start-ups will be selected according to the following criteria:

  • Prospects of raising funds in the next 18 months.
  • Seeking seed, series A or B financing (from 500,000 euros to five million euros).
  • Company less than 15 years old.
  • Head office located in France.

French Tech Capitals will be able to select 5 start-ups and French Tech Communities in regions without Capitals, 3 start-ups. For overseas France, there will be 2 start-ups for the Pacific region (French Tech Communities of New Caledonia and French Polynesia), 3 start-ups for the Indian Ocean region (French Tech Communities of Reunion and Mayotte) and 3 start-ups for the French West Indies (French Tech Communities of Guadeloupe, Martinique and Guyana).

82 start-ups will be invited to an event in Paris in November where they will have the chance to present their structure to an audience of investors. In addition, several prizes will be awarded in different categories.

From French Tech to French Tech Rise, via the French Tech Trempin

The objective of French Tech since 2014: to boost the French economy in terms of growth, jobs and innovation. By 2025, the 120 startups in the FT Next40/120 ranking alone are expected to create more than 200,000 jobs, hence the interest of the French government that this positive momentum can benefit all French territories through the French Tech Rise initiative.

Cédric O states:

“There are the national programs of the Mission French Tech, such as French Tech Tremplin or French Tech Central, which are now developed in many territories. French Tech Rise will enable us to continue structuring the financing of territorial tech ecosystems by putting the spotlight on the talented entrepreneurs in our regions. We need more unicorns in the regions!”

Source: French Tech Rise: a government initiative to support the financing of start-ups in the regions - Actu IA

 

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