A BOOMING STARTUP
ECOSYSTEM
Contents
Come and meet French Tech!
A startup ecosystem on the move
Sectors where French Tech is leading the pack
Success – it’s about people
p 3-5
Asset #1: Talent
Asset #2: Venture capital
Asset #3: A fertile ecosystem
Paris, a world-class venue for startups
Asset #4: Government support for entrepreneurship
p 11-12
What is La French Tech?
French Tech Hubs around the world
French Tech Ticket: launch your startup in Paris
p 19
p 6-7
p 8-9
p 10
p 13
p 14-15
p 16-17
p 18
p 20-21
p 22
Welcome to France !
From high-speed trains to luxury goods to vaccines, France has a longstanding reputation for creativity and innovation. The French are early and
strong adopters of new technologies, and today they are strongly committed
to the new digital age.
Recent years have witnessed a growing trend – the majority of young French
people now aspire to be entrepreneurs.
They have been inspired by a generation of successful entrepreneurs who
have propelled the French Tech ecosystem forward.
The entire French economy is now following suit, and regulations are being
adapted to stay in step with the new reality. As an example, in terms of cost,
time and red tape, it is now much easier to start a business in France than in
any other G20 country.
This innovative spirit is embodied by pioneering startups with disruptive
business models. Global successes like Criteo, BlaBlaCar, and DBV
Technologies have paved the way for a long list of promising startups who are
on the verge of becoming tomorrow’s international market leaders.
Let us introduce you to French Tech.
// 3
#THE PEOPLE BEHIND
FRENCH TECH
Jonathan Benhamou
Pierre-Henri Benhamou
Jeremi Berrebi
Xavier Duportet
Marie Ekeland
Jacques-Antoine Granjon
New York-based co-founder
of HR solution PeopleDoc,
raised $45m in Oct. 2015.
Co-founder and CEO of
Eligo Bioscience and Hello
Tomorrow, the international
conference franchised in 40
countries.
// 4
Co-founder of DBV Technologies, inventor of the
Peanut Allergy Patch, now
valued at $1.7bn on the
Nasdaq.
Co-founder of the Daphni
venture capital fund and copresident of France
Digitale. Early investor in
Criteo.
Established in Israel, the
world’s most active angel
investor, with 360+
startups.
Founder of vente-privee.com
in 2001, the e-commerce
company that pioneered
online flash sales.
Estimated valuation $3bn.
Roxanne Varza
Director of Station F, soon to
be the world’s largest startup
incubator. Co-founder of
Tech.eu, StartHer & Failcon
Paris
Octave Klaba
Upper-France based Founder
of OVH, N°3 internet hosting
company in the world, valued
over $1.04bn, raised $261m
in 2016.
Thibaud Lecuyer
Méryl Job
Established in Brazil, Cofounder & MD of Dafiti. that
employs +2,200 people.
Raised in the US, in 2009
founded videdressing.com
in Paris, now employs
70+ people.
Jérome Lecat
Xavier Niel
Founder of Scality, based
in Paris, the US, Japan and
Singapore. Total funding
$86m as of Jan. 2016.
Founder of Iliad/Free in1999,
now valued at $12bn.
Founder of Kima Venture,
Ecole 42 and Station F, soon
to be the world’s largest
startup campus.
Alix de Sagazan
Marie-Vorgan Le Barzic
Yann LeCun
Ludovic Le Moan
Founder of Sigfox, IoT
pioneer, is building a global
wireless network to connect
low-energy objects. Raised
$158m in 2015.
Bertin Nahum
Director of Facebook AI
Research Lab, founded in
2015 in Paris.
Frédéric Mazzella
Antoine Papiernik
Alice Zagury
Founder of BlaBlaCar,
international leader and
pioneer of car-sharing, has
raised $300m in the last 12
months. Estimated valuation
$1.6bn.
Co-founder of Liwio and its
solution Ab Tasty, with 6
offices over the world and a
40 countries market.
Managing Partner at
Sofinnov Partners, early
investor in CoreValve, sold
to Medtronic for $700m.
Founder of tech hub Numa,
hosting the internationally
renowned startup accelerator.
Now also established in Bengalore, Moscow, Casablanca
and Barcelona.
Born in Dakar, founder of
surgical robotics startup
MedTech. Ranked #4 in
the Discovery Series’ Top
10 Revolutionary High-Tech
Entrepreneurs.
Co-founder of Paris-based,
index-funded startup
accelerator The Family.
// 5
#A STARTUP
ECOSYSTEM
ON THE MOVE:
a growing number
of market leaders
DBV
TECHNOLOGIES
$100M
IPO NASDAQ
2014
VIADEO
IPO $112M
2014
ERYTECH
$32M
SARENZA
$100M
Venture Round
2014
Venture Round
2014
SUNRISE
Exit $100M
2014
PRICEMINISTER
Exit $200M
ILIAD-FREE
IPO. 2015 Market
Valuation $12B
2004
DEEZER
$112M
Venture Round
2012
OVH
$450M
2010
ILOG
Funding Round
2013
VENTE PRIVÉE
Exit $340M
2009
Market Value $3B
2011
NEOLANE
Exit $600M
2013
BUSINESS OBJECTS
Exit $6,78B
2008
COREVALVE
Exit $700M
CRITEO
$251M
2010
NASDAQ IPO
2013
DAILYMOTION
Exit $168M
2013
TALEND
$40M
Venture Round
2013
2000’S
// 6
2010’S
NETATMO
$33M
CELLECTIS
Venture Round
2015
NASDAQ IPO
$212M
PARROT
$326M
Capital Increase
2015
2015
Venture Round
2015
CARMAT
$56M
Funding Round
2015
$67M
Venture Round
2015
$50M
Venture Round
2016
Venture Round
2015
SIGFOX
$112M
SHOWROOM
PRIVÉ
CARMAT
BLABLACAR
$200M
EYE TECH CARE
TEADS
Venture Round
2016
Venture Round
2016
$27M
Funding Round
2015
SCALITY
$45M
OVH
DEVIALET
Venture Round
2016
Venture Round
2016
$105M
$261M
DEEZER
$109M
PRÊT D’UNION
$35M
$45M
Venture Round
2016
SIGFOX
$156M
Venture Round
2016
VESTIAIRE
COLLECTIVE
$36M
Venture Round
2015
Venture Round
2015
TEADS
$27M
Venture Round
2015
2016
// 7
#SECTORS WHERE
FRENCH TECH IS LEADING
THE PACK
DeepTech: AI & Data
Where France’s excellence in mathematics (13 Fields Medal recipients) meets business
model creativity.
MARKET LEADERS:
Criteo, inventor of ad
retargeting, NASDAQ
IPO in 2013, valued
at $2.7bn.
Talend, pioneer of
open-source big
data integration,
NASDAQ IPO of
$86m in 2016.
Teads, inventor of
outstream video
advertising, $111m in
venture funding since
2011.
Scality, software for
exabyte-scale data
storage, $85m venture
round in 2015.
BioTech/MedTech
64 life science startups listed on the Euronext Paris stock exchange: #2 in the World for
biotech and #1 for medtech IPOs in the last 5 years. +€10bn in market capitalisation.
MARKET LEADERS:
DBV Technologies, inventor
of the Peanut Allergy Patch,
IPO in December 2014,
$340m raised, valued at
$1.7bn.
// 8
Cellectis, innovative medicine
through genome engineering
and cell therapies, IPO March
2015, $212m raised. Valued
at $1bn.
Erytech, cancer therapies that
work by starving tumours,
$85m in funding so far.
Internet of Things
36% of all startups exhibiting in the Eureka Park
at CES 2017 were French (Financial Times)
MARKET LEADERS :
SigFox, Global Cellular
Networks for IoT,
$156m funding round
in November 2016.
Parrot, pioneer of
consumer drones,
current valuation
$400m.
Netatmo, smart home
connected devices,
$36m venture funding.
Devialet, inventor of
Phantom, the world’s
highest-quality wireless speaker. $105m
venture round in 2016.
Sharing and On-Demand Economy
Inventing unique and disruptive business models
MARKET LEADERS:
Blablacar, the global leader in long distance
ride-sharing, $300m raised in the last 12
months, valued at $1.6bn.
Drivy, Europe’s number one peer-to-peer car
rental service, $20m in venture funding.
Younited Credit (ex Pret d’Union), online
platform to facilitate financial transactions
between individual lenders and borrowers.
$34m Series D, July 2015.
La Ruche qui dit oui! (aka The Food Assembly). Network of communities buying fresh
produce directly from local producers and
farmers. $9m Series B funding round in 2015
led by Union Square Venture and Felix Capital.
// 9
#SUCCESS
IT’S ABOUT PEOPLE
In France, entrepreneurs, investors and talented individuals enjoy a startup-friendly
environment that helps them grow their business and take their place in global markets.
The French Tech ecosystem provides a fertile ground for them and their international
business partners.
The four assets of the French Tech environment:
#1
#2
YS
OS
EC
// 10
M
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#3
G
& OV
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LA E
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ON
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A
T
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E
#4
A huge pool of skilled
and affordable talent
100,000 ENGINEERS ARE
TRAINED EVERY YEAR IN
FRANCE
70,000 PHD STUDENTS
EVERY YEAR
(41% of them from outside France)
THE FRENCH TOUCH IN
MATHEMATICS
13 Fields medals (out of 55)
THANKS TO FRENCH TAX
INCENTIVES
an engineer costs 50% less than
in Silicon Valley
50% of 18-24 year olds
in France would like
to create their
own business
Source:
Survey Idinvest
Le Figaro 2015
Top graduates now launch
startups!
80% of French entrepreneurs
exhibiting at CES International 2015
graduated from France’s top
management and engineering
schools
// 11
#1
#TALENT
The French are
innovation-friendly
#1
In Europe for
e-government
PARIS: ITS TOP MARKET
FRANCE 2ND COUNTRY WHERE UBER WAS
LAUNCHED (AFTER THE US)
FRANCE HAS THE WORLD’S LARGEST
FLEET OF SELF-SERVICE CARS
& BICYCLES
// 12
#2
#VENTURE CAPITAL
A fast-growing market
FRANCE,
GERMANY,
UK
$2BN
$1BN
3 COUNTRIES HAVE
74% OF THE MARKET:
$2BN
in one year
$1BN
+27%
VC FUNDING
IN FRANCE
$1,1BN
VC FUNDING IN EUROPE
(2015): €14,4bn
Semester 1
2013 2014 2015 2016
France within Europe
#2 IN VALUE
#1 IN VOLUME
VC funding in Europe
in millions of dollars
1.490
UK
919
857
(Source: Barometre EY du capital risque
en France, H1-2016)
524
198
Germany
462
France
T4 2015
(Source: CB Insights 2016)
T3 2016
// 13
#3
#ECOSYSTEM
A booming startup ecosystem
L
A
OB
GL
N
R
BO 15
& 20
H
T VS
W
O 14
R
G 20
R
E UP
P
HY ART
ST
revenue increase
39%
29%
increase in firms
with foreign VC
investment
50%
leap in revenue
generated
abroad in 2015
27%
rise in staff
numbers in
one year
(Source: Barometre EY/France Digitale 2016 – La performance economique et sociale des start-up numeriques en France)
// 14
Global Champions
$1bn STARTUPS IN THE 2010s
RISING STARS
Technology Fast 500
The most represented
nation for the 6th
successive year
DELOITTE 2016 TOP 500 INDEX
OF EUROPE’S FASTEST GROWING
TECH FIRMS
// 15
#ECOSYSTEM:
PARIS, A WORLD-CLASS
VENUE FOR STARTUPS
#1 Business Centre in
Continental Europe
Largest GDP in Europe
World’s 3rd most attractive
city for foreign investment
(KPMG)
#1 in Europe for the growth
of its innovation market
(CB Insight 2014)
100,000 researchers in the Paris area
World leaders have set up innovation centres in Paris:
Microsoft, Google (2013), Samsung (2015),
Nokia (2015) and Facebook (2015)
A highly cosmopolitan
global city
43% of residents in the greater Paris area have
an expat background
// 16
Among the top six
tech cities in the
world
(CB Insights, «The Next Silicon
Valley», November 2014)
Number three
destination for
foreign students
(335,000 each
year)
“Paris is for lovers...
of startups” USA TODAY
Over 40 business incubators: 130,000 square
meters of coworking space, including well-established accelerators such as Partech Shakers,
Numa and The Family.
November 2015: launch of Le Cargo, a huge
15,000 square meter space, housing an innovative
business incubator, a developer school, a fab lab
and a business centre under one roof.
Early 2017: opening of the privately-funded
Station F - 1,000 startups in 33,000 square
meters – the world’s largest startup campus.
Ecole 42 is developing
a disruptive teaching
method: participatory
and project-based
learning that allows
students to unleash
their creativity.
It’s free, open 24/7,
and teaches 900
developers per year.
// 17
#4
#A GOVERNMENT
FIRMLY BEHIND
ENTREPRENEURSHIP
In 2013, the French government
launched La French Tech,
an initiative to support
and promote the French
startup ecosystem on an
international level.
R&D TAX CREDIT
$ 6bn
PROGRAM COVERING
30% OF ALL R&D
EXPENSES
$ 225m
$ 1,25bn
OF INVESTMENT
IN PRIVATE STARTUP
ACCELERATORS
R
// EGU
// 201 LA
// 201 3 L TIO
20 5 aw N
16 Ec fo :
La ono r C
w m ro
for ic wd
Di Gro fun
git w di
al th ng
Re an
pu d A
bli ct
c ivit
y
Bi
ll
FOR
INNOVATION
#3
OPEN DATA
INDEX
// 18
Bpifrance
#WHAT IS
LA FRENCH TECH?
For some years now, the French Tech ecosystem has seen
rapid growth, driven by a new generation of entrepreneurs,
investors, engineers, designers and other talented people.
France is becoming a «Startup Nation», home to vibrant tech
hubs and talent and imbued with a strong entrepreneurial
culture.
The name of this movement is «La French Tech»; it is led by
entrepreneurs and backed by the French government.
// 19
#FRENCH TECH HUBS
AROUND THE WORLD
The French Tech Hub program consists of a worldwide network of tech
entrepreneurs, investors and executives. These French Tech communities
are designed to build bridges between major innovation hubs and facilitate
the international growth of French startups.
MONTREAL
SAN FRANCISCO
LOS ANGELES
LOND
NEW YORK
BARCELO
A
SÃO PAULO
// 20
A Worldwide Network
of French Tech Entrepreneurs
LONDON
BARCELONA
BERLIN
MILAN
MOSCOW
ISRAEL
DUBAI
SÉOUL
BEIJING
TOKYO
SHANGHAI
SHENZHEN
TAIPEI (TAIWAN)
HONG KONG
VIETNAM
ABIDJAN
CAPE TOWN
// 21
#FRENCH TECH TICKET,
a program to attract international
entrepreneurs
An annual international startup competition offering one hundred non-French
entrepreneurs a «Welcome Pack» to launch their startup in France:
Welcome Pack
Residence Permit
Landing Pack
Fast-track procedure to obtain
a residence permit
“Welcome Guide” and special offers to help entrepreneurs relocate to France
Prize Money
Help Desk
€45,000 per team over the
course of a year, with no loss of
equity
An English-speaking help
desk to provide administrative assistance
Acceleration Program
Incubator
Tailored program of events
to support the startup’s growth
12 months in one of the
41 selected partner
incubators
More than 1,200 startups applied to the 2nd edition
The second batch of 70 startups will arrive in France in January 2017
www.frenchtechticket.com
// 22
Notes:
@lafrenchtech
#frenchtech
lafrenchtech.com
Mission French Tech décembre 2016 - Création: Agence L